56 episodes

How much Money does it take to get started in a specific real estate investing niche? How much and what kind of Knowledge does it take? How much Time does it take once you're up and running? And how Location dependent is it? Tune in each week to follow our journey and learn as we interview successful investors and entrepreneurs who have achieved or are well on their way to achieving financial and location independence, with a special focus the Time, Money, Knowledge and Location dependence of their chosen investment niche.

Road to Family Freedom Neil and Brittany Henderson

    • Investing
    • 4.9, 14 Ratings

How much Money does it take to get started in a specific real estate investing niche? How much and what kind of Knowledge does it take? How much Time does it take once you're up and running? And how Location dependent is it? Tune in each week to follow our journey and learn as we interview successful investors and entrepreneurs who have achieved or are well on their way to achieving financial and location independence, with a special focus the Time, Money, Knowledge and Location dependence of their chosen investment niche.

    From No Money and No Knowledge to 7 Doors with Sunitha Rao

    From No Money and No Knowledge to 7 Doors with Sunitha Rao

    Sunitha Rao – Company Owner of Griffix Property Group, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. 10 years ago, Sunitha retired from nearly a decade of playing tennis professionally at the age of 23 with a sixth-grade education, quite literally no money and very little knowledge of how the world worked outside of her sport. Fast forward to today, she has earned a bachelor's in business and finance from Babson College, an MBA from Villanova University, has no student debt, a successful career in corporate finance, and a real estate business with seven doors in her portfolio. Her goal is to achieve financial freedom while also having a positive impact on others' lives through investing in real estate by purchasing distressed properties and repairing them to provide safer, cleaner, higher quality living environments for her long term tenants and short term vacation rental guests.
    Post-Interview Analysis 
    Key Lessons Learned: Building her team through networking. Make sure she had an understanding of what a person’s job was. Perhaps do some of these jobs on your own before hiring it out. Get a feel for how much things should cost. The number of hours you can work to generate income is limited. It’s important to start looking for ways to generate income from other sources that don’t involve your time and ongoing labor. 
    How did they acquire their knowledge or what knowledge did they need to acquire? The finance tools for purchasing real estate. Really getting to know the different tools available to purchase a piece of real estate. From seller finance to HELOCs, to private money.
    How much money did it take to get started? $37,000 to buy her first property
    How much time does it take now? 2-4 hours a day depending on whether she is in acquisition mode.
    Could they do this strategy from anywhere in the world? Pretty much yes, but she currently lives near where she invests.
    Episode Highlights: 
    Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (https://www.roadtofamilyfreedom.com/selfstoragecall/)
    How Sunitha decided to add additional streams of income to her corporate finance job using cash flowing rental properties.
    Why she decided to refrain from taking other people’s capital in the beginning.
    The key things to remember when evaluating a property on just the cash on cash return
    How analyzed various real estate markets and decided on Indianapolis to invest
    And much more…
    Books and Resources Mentioned
    The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com/)
    Website: Griffixpropertygroup.com (https://www.griffixpropertygroup.com/)
    Instagram: https://www.instagram.com/griffixpropertygroup/ (https://www.instagram.com/griffixpropertygroup/)
    Follow Us:
    facebook.com/roadtofamilyfreedom/ (https://www.facebook.com/roadtofamilyfreedom/)
    instagram.com/roadtofamilyfreedom/ (https://www.instagram.com/roadtofamilyfreedom/?hl=en)
    twitter.com/r2familyfreedom (https://twitter.com/r2familyfreedom)
    Other Stuff:
    If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.
    For show notes and past guests, please visit roadtofamilyfreedom.com/episodes/ (https://www.roadtofamilyfreedom.com/episodes/)
    Discover the tools and services we use, visit roadtofamilyfreedom.com/resources/ (https://www.roadtofamilyfreedom.com/)

    • 49 min
    The Six Departments of a Self-Storage Business with Stacy Rossetti

    The Six Departments of a Self-Storage Business with Stacy Rossetti

    Stacy Rossetti – a self-storage investor and teacher at the Super Secret Investors Society, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Stacy has spent the last several years systematizing and automating her storage facilities so that she can easily run them from her phone or tablet and only spend a few hours each week working on them. She teaches others not only how to find abandoned storage facilities, but how to buy them with little money down and no banks. Plus, she focuses on your six departments and teaches you how to manage them: office, marketing, acquisitions, finance, management, and liquidations.
    Post-Interview Analysis 
    Key Lessons Learned: So much of acquiring a self-storage facility in a tertiary market is simply about building rapport with the owner. Get on Google Maps and start looking for the unmistakable footprint of storage facilities, find a way to contact the owners, and just call them.
    How did they acquire their knowledge or what knowledge did they need to acquire? Systematizing and Automation are the key. You don’t want to end up buying yourself a job, your goal is to buy yourself an investment or a business. 
    How much money did it take to get started? She was able to get into her first facility without any of her own money. The deal was financed 100% by a private lender.
    How much time does it take now? Once a facility is up and running, it takes her husband about 8 hours per week to manage their multiple facilities.
    Could they do this strategy from anywhere in the world? Yes, when we spoke to Stacy she and her family were on an extended vacation in South Dakota, while most of their portfolio is in Georgia.
    Episode Highlights: 
    Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (https://www.roadtofamilyfreedom.com/selfstoragecall/)
    Buying self-storage facilities with no money down using private lenders.
    Finding abandoned or run down self-storage facilities on satellite imagery on Google Maps.
    The six departments of running a self-storage business.
    The keys to running a self-storage business remotely from a smartphone or a tablet.
    And much more…
    Books and Resources Mentioned
    The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com/)
    Facebook: Stacy Teaches (https://www.facebook.com/stacyteaches/?modal=admin_todo_tour)
    www.stacyrossetti.com (http://www.stacyrossetti.com)
    Self-Storage Courses from Stacy Rossetti (https://stacyrossetti.com/online-courses/)
    StorEdge (https://www.storedge.com/)
    Easy Storage Solutions (http://www.easystoragesolutions.net/)
    Follow Us:
    facebook.com/roadtofamilyfreedom/ (https://www.facebook.com/roadtofamilyfreedom/)
    instagram.com/roadtofamilyfreedom/ (https://www.instagram.com/roadtofamilyfreedom/?hl=en)
    twitter.com/r2familyfreedom (https://twitter.com/r2familyfreedom)
    Other Stuff:
    If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.
    For show notes and past guests, please visit roadtofamilyfreedom.com/episodes/ (https://www.roadtofamilyfreedom.com/episodes/)
    Discover the tools and services we use, visit roadtofamilyfreedom.com/resources/ (https://www.roadtofamilyfreedom.com/)

    • 1 hr 4 min
    12 Months To Financial Freedom Using Self Storage With Jon Farling

    12 Months To Financial Freedom Using Self Storage With Jon Farling

    Jon Farling – is a self-storage investor from Ohio. He started buying single-family rentals in 2015. In 2019, he pivoted to self-storage and has purchased two facilities in just six short months plus one or two more by the time this episode airs.
    Post-Interview Analysis
    Key Lessons Learned: Find a way to take action. So many real estate investors, myself included, get bogged down in analysis paralysis and fear of getting started. If you can find a way to tackle a smaller deal, like a single-family home, rather than trying to go out and buy a $500,000 Self Storage Facility. When you've never run a self-storage facility, that is a daunting task. It is okay to start with a single-family home, or two, or three to help you get used to this game and all the moving parts that go into buying an investment property.
    How did they acquire their knowledge or what knowledge did they need to acquire? He hired a mentor. He hired Mike Wagner to mentor him through the process of self-storage investing. Jon’s most important and successful lesson from Mike was understanding how to operate a self-storage facility. Especially when it comes to the small unmanned facilities that he's buying. The operations and business model for these smaller facilities are very different from the larger facilities with onsite or third party managers.
    How much money did it take to get started? For a $375,000 facility, It took him about $60,000 of his own capital and an SBA loan which included about $30,000 towards renovations for a fence, electrical, and a security system.
    How much time does it take now? When he is not in an acquisition phase, he spends about two hours a week on it because of the benefit of the systems and operations he utilizes. When in acquisition it involves significantly more time, especially with a more complicated SBA loan.
    Could they do this strategy from anywhere in the world? Yes! With the facilities he has and the way he operates them, he could go and live anywhere he wants while running a successful storage facility.
    Episode Highlights:
    Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (http://www.roadtofamilyfreedom.com/selfstoragecall/)
    Neil Henderson introduces Jon Farling
    Neil and Jon discuss Jon’s current storage acquisitions and when they will close, as well as the intricacies of an SBA loan.
    Jon talks about why he transitioned from single-family homes to self-storage and how SBA loans and investing in smaller towns and storage facilities made sense for him. And why he wouldn’t have skipped his single-family home experience if he could do it all again.
    What were the numbers on that first storage deal? How big was it?
    What is economic occupancy?
    What are the community/population details?
    How is he managing his facilities, what systems is he using?
    How did the numbers work out in his favor even though this deal didn’t fit conventional wisdom?
    Has self-storage met Jon’s expectations?
    Any unexpected frustrations?
    What mistakes were made?
    How did he find the right mentor?
    What were the main things Jon needed to learn about operations?
    What kind of “boots on the ground” people does he need to operate?
    Was there a book that helped get him started?
    How are his deals funded for his current facilities and those he is acquiring?
    What does a typical day as a self-storage investor look like for Jon?
    Jon gives us details on the call center company he works with to run his facilities.
    How does he find his deals?
    What is the most critical skill he’s needed to learn for success?
    How much time does he spend on his business?
    Can he/will he run his business from anywhere in the world?
    Follow Us:
    facebook.com/roadtofamilyfreedom/ (https://www.facebook.com/roadtofamilyfreedom/)
    instagram.com/roadtofamilyfreedom/ (https://www.instagram.com/roadtofamilyfreedom/)
    twitter.com/r2familyfreedom (https://twi

    • 49 min
    How to Invest Without Banks Using Lease Purchases with Chris Prefontaine

    How to Invest Without Banks Using Lease Purchases with Chris Prefontaine

    Chris Prefontaine – 3-time best-selling author and CEO of Smart Real Estate Coach talks to Neil and Brittany Henderson, hosts of The Road to Family Freedom podcast. Chris talks about how the 2008 real estate crash shaped his real estate investing strategy so that he now buys and sells investment properties with no banks. He now uses, and teaches others to use, a strategy called Lease Purchase, to control an asset, and then either hold it as a long term rental, or sell it using another lease purchase agreement. 


    Post-Interview Analysis 
    Key Lessons Learned: Manage your expectations on your first few deals. So many people want or expect to hit a home run with their first deal, but what they should be trying to do is just get in a deal and learn.
    How did they acquire their knowledge or what knowledge did they need to acquire? Mindset is such an important aspect of the real estate investing business. Getting over your limiting beliefs around how much money you can make, and whether you can successfully negotiate a sale with a seller. 
    How much money did it take to get started? It varies greatly, but the biggest cost is typically going to be marketing and closing costs to set up the Lease Purchase agreement. On average, probably about $4,000 to $10,000.
    How much time does it take now? About 20 hours a week for minimal results.
    Could they do this strategy from anywhere in the world? Maybe, but you would definitely need a partner of some sort to act as boots on the ground.
    Episode Highlights:
    Schedule a free video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (http://www.roadtofamilyfreedom.com/selfstoragecall/)
    Neil Henderson introduces Chris Prefontaine
    [02:55] Chris talks about how the 2008 real estate crash shaped his future strategy. 
    [04:30] How the COVID-19 pandemic and related economic crisis compares to the 2008 financial crisis.
    [07:09] How does a Lease Purchase work in real estate investing?
    [10:06] Chris Prefontaine walks us through a recent example of an investor using a lease-purchase to acquire an investment property.
    [15:07] The Law of the First Deal in real estate investing.
    [16:22] How do they structure partnerships with their student investors?
    [22:24] How to find sellers who are open to a lease-purchase.
    [24:07] What sorts of systems have they set up to keep their deal funnel full?
    [25:51] How to use virtual assistants to help you contact motivated sellers.
    [27:25] How Chris got himself educated on using the lease-purchase strategy.
    [29:54] What are the costs associated with using the lease-purchase strategy to acquire investment property?
    [31:18] What does the Smart Real Estate Coach mentorship look like for a student?
    [34:34] Are investors investing out of state or just in their immediate area?
    [36:43] Are lease purchases the kind of investment strategy that someone could execute long distance? From anywhere in the world?
    [38:03] What are Chris Prefontaine’s predictions for the real estate market over the next 12 months?
    Books and Resources Mentioned:
    The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com)
    Free Book: FreeSRECBook.com (http://freesrecbook.com)
    Free Webinar: www.smartrealestatecoach.com/webinar/ (http://www.smartrealestatecoach.com/webinar/)
    Chris Prefontaine’s Website: www.smartrealestatecoach.com (http://www.smartrealestatecoach.com)
    Twitter: https://twitter.com/smartrecoach (https://twitter.com/smartrecoach)
    Facebook: https://www.facebook.com/smartrealestatecoach/ (https://www.facebook.com/smartrealestatecoach/)
    Follow Us:
    facebook.com/roadtofamilyfreedom/ (https://www.facebook.com/roadtofamilyfreedom/)
    instagram.com/roadtofamilyfreedom/ (https://www.instagram.com/roadtofamilyfreedom/)
    twitter.com/r2familyfreedom (https://twitter.com/r2familyfreedom)
    Other Stuff:
    If you enjoy the podcast, would you please consider leaving a sh

    • 49 min
    Getting Started Raising Private Capital with Jake Marmulstein

    Getting Started Raising Private Capital with Jake Marmulstein

    Jake Marmelstein – founder of Groundbreaker.co talks to Neil Henderson , host of The Road to Family Freedom podcast. Jake founded Groundbreaker after working for an institutional real estate investment firm focused on distressed hotels. He found that the process of raising money and managing the data related to investor communications was cumbersome and inefficient, so he set out to provide a better solution. Groundbreaker, which is headquartered in Chicago, offers modern investment management to professional real estate deal sponsors and their investors.


    Post-Interview Analysis 
    Key Lessons Learned: If you are looking to fund deals with other people's money, start with friends and family. Your credibility and relationship with an investor is key when taking other people’s money. If you're working with friends and family, that's going to be a lot easier to establish than with a total stranger that you meet on the internet. 
    Keep your investment structure simple. A lot of new investors will do a lot of different things to try to bring in money, so they'll have 10 different investors on the same deal with 10 different investment structures. That's just a recipe for disaster. So keep it simple. You may lose investors, and that’s ok. You’d rather have a happy investor than one who is upset about the other investor’s arrangements.
    Episode Highlights:
    Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/selfstoragecall (http://www.roadtofamilyfreedom.com/selfstoragecall/)
    Neil Henderson introduces Jake Marmelstein
    Jake talks about the origins of the name Groundbreaker for software company, as well as the origins of the company itself. 
    Jake talks about his real estate journey.
    Jake and Neil explain the difference between a REIT and a syndication
    What mistakes made as a new syndicator looking for investors?
    How is being a syndicator a customer service job?
    Jake discusses what challenges led to the creation of Groundbreaker
    How does Groundbreaker help a syndicator and an investor?
    Jake talks about how he currently invests.
    What asset classes are working well right now?
    Books and Resources Mentioned:
    The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com)
    Groundbreaker: groundbreaker.co (http://www.groundbreaker.co) 

    • 39 min
    Scaling from 8 Single Family BRRRRs to a 24 Unit Apartment Building with Alex Felice

    Scaling from 8 Single Family BRRRRs to a 24 Unit Apartment Building with Alex Felice

    Alex Felice – of BrokeIsAChoice.com, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Alex is the first repeat guest on The Road to Family Freedom. He talks about his journey from buying 8 single family rentals using the BRRRR strategy, to buying a 24 unit apartment building with 5 other partners.
    Post-Interview Analysis
    Key Lessons Learned: Real Estate is hyper-regional, there is no “national real estate market”. The market in Las Vegas, Nevada is very different from the market in Reno, Nevada, and there are also submarkets within those regional markets. It’s important to understand what is driving and affecting housing demand on a regional and sub-market
    Episode Highlights
    Alex recounts his journey from buying 8 single family rental properties using the Buy, Rehab, Rent, Refinance, Repeat strategy, and why he sold his primary residence in Las Vegas, Nevada.
    Why he stopped buying single-family income properties to focus on buying a 24-unit apartment building and doing flips.
    What was the purchase price on the 24-unit apartment building?
    How he found the deal.
    The importance of networking in real estate
    How he purchased the 24-unit apartment building with five other partners.
    How much capital he put into the deal 
    What’s the business plan to turn around the 24-unit?
    How is he creating extra income for his partners? 
    How real estate investors who self-manage often step over dollars to pick up dimes
    The importance of starting with small, manageable deals before you try and tackle the larger deals
    Why he doesn’t want to own 5,000 units
    What is the long-term plan for the disposition of the 24-unit apartment building?
    The power of commercial real estate to create wealth and income using the combination of Net Operating Income and Cap Rate.
    The most frustrating aspects of tackling the 24-unit
    The importance of not coming into a deal undercapitalized.
    How and why he has adding flipping houses to his investment repertoire.
    How is the COVID-19 pandemic affecting the economy and the real estate market?
    The difference between the pandemic and the Great Recession.
    The effect of the pandemic on the short term rental market
    The importance of having reserves to deal with unexpected market conditions
    Books and Resources Mentioned
    The Road to Family Freedom: roadtofamilyfreedom.com (https://www.roadtofamilyfreedom.com)
    Incerto: Fooled by Randomness, The Black Swan, The Bed of Procrustes, Antifragile (https://amzn.to/3ePiwX1) by Nassim Nicholas Taleb
    BrokeIsAChoice.com (https://www.brokeisachoice.com/)
    YouTube: Alex Felice (https://www.youtube.com/user/alexfelice)

    • 59 min

Customer Reviews

4.9 out of 5
14 Ratings

14 Ratings

rlestateguy ,

Great supplement to Bigger Pockets

As a long time listener to the bigger pockets podcast, I’ve begun to grow tired of the bravado of the hosts and the repetition of content on that show, as valuable as it has been to me. What I like about Neil and Brittany is that they really let their guests be the experts. They approach topics with curiosity and humility and never overshadow the people they have on the show, which is refreshing. They also regularly focus on short term rentals, which I love! Keep it up!

Randaluch ,

Road to Family Freedom…AWESOME Podcast!

Educational, informative, entertaining, lively, humorous….a listening pleasure! If you’ve ever thought about trying to become “self-made” and not tied down to your current location, this is the podcast for you! Brittany and Neil ask intriguing questions of knowledgable, self-made people who can help you on your journey to becoming financially independent through real estate adventures. HIGHLY RECOMMENDED!

Barri Griffiths ,

Great podcast!!!

I love listening to this podcast, I’ve learnt a lot from the great guests they’ve had. And the hosts do an excellent job of interviewing and making the podcast fun. I always look forward to the next interview. Keep up the good work!!!

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