100 episodes

Join industry professionals and personal investors from the Roofstock team as they discuss all things remote real estate investment. From time management, deal analysis, property management, financial considerations and scaling your portfolio, to interviews with other industry experts, this is the place to be to master real estate investment.

The Remote Real Estate Investor Roofstock

    • Business
    • 4.8 • 122 Ratings

Join industry professionals and personal investors from the Roofstock team as they discuss all things remote real estate investment. From time management, deal analysis, property management, financial considerations and scaling your portfolio, to interviews with other industry experts, this is the place to be to master real estate investment.

    Our Top Tips On What You Should Do When Closing Goes Sideways

    Our Top Tips On What You Should Do When Closing Goes Sideways

    Sometimes closing on a deal is not so straightforward. Michael shares a nightmare closing scenario and we discuss how to mitigate struggles like these to stay on schedule, saving time and money.


    ---


    Transcript


     


    Emil:


    Everyone, welcome back for another weekend wisdom edition of the remote real estate investor. My name is Emil Shour. And today I've got with me,


     


    Tom:


    Tom Schneider,


     


    Michael:


    and Michael Albaum.


     


    Emil:


    And we're going to be talking about what happens when your closing goes sideways. So Michael recently had a refi on a triplex he owns and had some some challenges arise. And we're gonna just put them in the hot seat, learn what happened and learn how he deals with it. So you guys can get some tips and takeaways in case this ever happens to you down the road. So let's hop into this one.


     


    Alright, Michael said, set the stage for us. What what happened on this refi on your triplex.


     


    Michael:


    All right. Step back in time with me to December of 2020. So that's what I started this whole process. And my wife actually found this awesome lender out in the Midwest, they could land on this property that I owned inside of an LLC. And I was like, great, this is awesome. So we got the ball rolling. He got a couple different quotes. For me. He was a mortgage broker. That's what he did he so he wasn't the lender specifically. So he found a lender that was going to work. We said, Great, we got the ball rolling, we got the application process started.


     


    And then they said, Oh, you're doing some rehab work. So they went out for the appraisal, that's when they learned learned, quote, unquote, about the rehab work. And I was like, I told you about the rehab work. And they said, Oh, well, we can't we have to go back and do another appraisal once the work is done. So keep us posted. I'm like, oh my god. So that slowed things down to start, then we were supposed to close. And they said, Oh, you filled out some paperwork wrong. Yeah.


     


    Tom:


    Did you get charged for like a chip chart trip charge for the appraisal? appraisal.


     


    Michael:


    So I got a second charge for the appraisal, which they didn't tell me about until the closing statement showed it. It was only a couple 100 bucks. But I was I was still a bit frustrated, because they didn't like tell me that. And I should have assumed like, of course somebody has to travel to go do these things. But also at the same time, it seems a bit frustrating that they said oh, here's the price for the appraisal when they quoted it to me. And then the final amount being taken out at the closing is different, because they charged more for the appraisal example back second time, which they should have done because they knew about the construction. So that was a bit frustrating.


     


    Tom:


    Was the construction like really significant.


     


    Michael:


    It was a total remodel of a unit of the biggest unit in the in the triplex so fairly.


     


    Tom:


    King unit.


     


    Michael:


    Yeah. Yeah. So yeah. So then they tell me Oh, by the way, I know we're pretty close to closing, but you filled out some paperwork wrong. So on my statement of information to the Secretary of State of California, I put that the LLC was member managed. But when I initially filed and made the LLC, I put that it was manager managed. So those two documents didn't align. So they said, Oh, you got it, you got to change this. And I was like, all right. We should we're done about this earlier, but whatever. So I did that and filed an amendment with the Secretary of State, it really wasn't a big deal, like 25 bucks to do to do it all online. Good to go. Great.


     


    So now fast forward, the closing has already been delayed. They finally got through the re inspection of the property, as well. And they say, oh, by the way, this same issue happened in Alaska, where the pro

    • 17 min
    Showdown Of the Century Round 7: Direct vs Indirect Ownership

    Showdown Of the Century Round 7: Direct vs Indirect Ownership

    Should you invest in real estate directly or indirectly through a REIT? In this episode, we debate just that. Tom and Michael go head to head on this topic and halfway through, switch sides to give you their strongest arguments for both of them. 


    ---


    Transcript


    Pierre:


    Hey there, everyone. Welcome to the remote real estate investor. Today we're sharing an episode that we did a couple of weeks back on the pod bean finance week, you can catch all of the episodes that were a part of that at pod bean.com/podcastweek/finance or simply search pod bean finance week on your search engine. And this episode is a showdown debate like we've done in previous episodes.


     


    This debate is between investing in real estate directly or investing in real estate indirectly through a real estate investment trust, also known as a REIT.


     


    Tom and Michael will be debating it out with email mediating and halfway through, they'll switch sides. So I hope you enjoy the episode.


     


    Norma-Jean


    And now we'll hand it off to our host of the live stream and the remote real estate investor podcast, Michael Tom and Emil, welcome.


     


    Tom:


    Thank you.


     


    Michael:


    Thanks so much.


     


    Emil:


    We're the we're the last show today, guys. So we got to get everyone hyped up I'm sure people are kind of, you know, like ready to end their day ready to enter the weekends. We got to


     


    Michael:


    It’s five o'clock on Friday. Let's bring bring the energy.


     


    Emil:


    Alright, so thanks, everyone, for joining us today. My name is Emil shore. And my co host here, as mentioned are Michael album and Tom Schneider. Say hi, guys. Hey, everybody. So we're gonna get into some quick intros on us in a second. But before we do that, wanting to give you all some background on the show, for those who are new listeners. So our podcast is called the remote real estate investor. And as you can imagine, there are tons of real estate investing podcasts out there, why did we decide to create a new one.


     


    So there's this growing segment of investors who are bucking the trend of only investing in their backyard and finding ways to invest outside of their local market, either from hundreds of miles away. So think, living in Los Angeles, investing in Fresno, or investing across the country, so investing in the Midwest or the south east, or even in Michaels case, which we'll get into across the world.


     


    So they're doing this because it's either too expensive to invest close to home. So think LA and New York, San Francisco, Seattle, any high cost of living area, or they're looking to diversify their portfolio across markets. And for anyone who's invested remotely, you know, it's a completely different ballgame with its own set of unique challenges, then if you're just investing locally, so we wanted to create this podcast and raise awareness and give our personal experience as remote investors. And we all invest that estate in different sizes of residential real estate. And we want to start this podcast again, just to educate people on on what that experience is like, and for people who are interested in potentially doing the same.


     


    Besides us hosting a podcast where the three of us will will talk about our experiences. We also invite authors and industry experts to pick their brain as well on the show. So with all that out of the way, we'll we'll kick off some intros.


     


    My name, again is Emil Shour. I'm a self employed marketing consultant living in the greater LA area. I started investing back in 2017. I picked up my first single family rental property in Jacksonville, Florida. I was hooked after I got my first quote unquote mailbox money, and have been growing ever since I've bought in Indianapolis, Memphis, St. Louis. And I'm up to six rental units of both single family rentals and small multifamily. Tom, you want to go next?


     

    • 46 min
    3 Effective Fund Flow Systems For Continual Growth

    3 Effective Fund Flow Systems For Continual Growth

    Managing your money upfront is a smart way to make sure you are hitting your financial targets. In this episode, Tom, Michael, and Emil share their strategies for managing money as it comes in, to efficiently allocate it to their investment projects and work towards financial freedom.


    ---


    Transcript


     


    Emil:


    Hey everybody. Welcome back for another episode of the remote real estate investor. My name is Emil Shour, and my co hosts today are the lovely,


     


    Tom:


    Tom Schneider


     


    Michael:


    And Michael Albaum.


     


    Emil:


    And on today's episode, we're going to be doing a little bit of personal finance. And particularly, we're going to be talking about how we set up our systems and bank accounts and everything to set us up for investing. So money comes in, where do we put it? How do we make sure somebody gets allocated for investing? All the nuts and bolts and juicy details? So let's hop into this one.


     


    What amazing thing happened to you guys this past weekend?


     


    Michael:


    Easy question. With an easy answer. I celebrated my two year wedding anniversary. This weekend. That was a lovely thing to do. My wife took me to a very fun little resort. It was very COVID safe. We had a room to ourselves and enjoy the pool and did like nothing. So we were able to just sit and relax and be and get a little bit sunburned.


     


    Tom:


    You're in North North California right now not not overly north, but at least north of San Francisco.


     


    Michael:


    Right. We're just north just north of you guys.


     


    Tom:


    Congratulations, by the way.


     


    Michael:


    Thanks, man. This was over in Glen Ellen which is outside of Santa Rosa. And it was really secluded, really quiet. It was just really a nice weekend to get a little bit of r&r because my wife and I always joke that we don't ever stop. So we will sit down for a day of relaxing be like yeah, I'm bored. Time to do something. So this weekend, we really force ourselves to really just sit and be and read and relax. And it was lovely. So that was definitely my highlight. What about you Tom?


     


    Tom:


    I have a one and a half year old and we go on campus tours. So we go tour the local elementary schools and we went on a lovely campus tour over the weekend. So it was really big. I don't remember elementary schools being that big it was it was a particularly big one. It was one called Burn Valley over in Lafayette. But it was really nice. There was a little league practice we scouted out future potential teams. So just a lot of a lot of scouting. I really want to live by an elementary school like for like weekends like play games and stuff. It's like the giant backyard of like, you know, basketball hoops big grass fields. Anyways.


     


    Michael:


    That's really great for like Ultimate Frisbee games in college I lived across an elementary across your elementary school we play frisbee there all the time playing the baseball diamond. It's lovely.


     


    Tom:


    Totally I think there was some random you know, college kids or whatever bringing what's that game or you like hit the ball into the net and it like bounces up and anyways there was some folks that…


     


    Michael:


    Spike ball.


     


    Tom:


    Spike ball yeah, it was a big spike ball game going on. So that was my campus tours with with baby. So we're on our way through the of the elementary schools, yourself Emil?


     


    Emil:


    So last week was my birthday.


     


    Michael:


    Happy belated.


     


    Emil:


    Thanks, guys. And so that the family together on Sunday, just immediate family, my wife's parents, my parents, my brother, had a nice lunch, we hung out, they got to hang out with our daughter just a good time, I also got to go surfing that morning. It was like a nice warm day. So even though the water still a little bit cold in Southern California, was warm out. So it's like this nice balance. And just a n

    • 35 min
    What Gives Better Returns, Cash or Leverage? Well, That Depends...

    What Gives Better Returns, Cash or Leverage? Well, That Depends...

    All-cash or debt? The answer to this depends on what return metrics you are looking for and the specifics of the property being considered.


    In this video, Michael shows you exactly how to analyze a property and establish what financing strategy works best for different deals.


    ---


    Transcript


     


    Michael:


    Hey, everybody, welcome to the remote real estate investor. My name is Michael Albaum and today I'm joined by


     


    Tom:


    Tom Schneider.


     


    Emil:


    Emil Shour.


     


    Michael:


    And on today's episode, we're going to be talking about some of the different ways to evaluate properties and determine whether or not it makes sense to purchase them with debt or with all cash. So let's get into it.


     


    Alright guys, so Pierre and I were chatting last night, and we were doing some evaluation on different types of properties. And what we were noticing is that some properties are better purchased with debt, and others all cash, have you come across the same thing?


     


    Emil:


    I have, when you, you actually pointed that out? When we were I think doing some type of video, like how to analyze a property, and we're looking at different properties. And that came up where I didn't even realize that that was a thing, really. But you're right, in that some properties, the cash on cash, debt won't always juice the cash on cash return.


     


    Tom:


    Yeah, I mean, just the return profile can can shift quite a bit with leverage leverage. So you know, obviously, increasing your loan to value ratio is going to would be a like, more aggressive thing to do. So if there's like changes in the value of the home, you know, by having a you know, by getting as much debt as possible, there's, you know, risk of the value of the home getting to the other side, which would be like, deemed underwater.


     


    And then on the actual yield side. You know, depending on how much cash flow you want to make in a month, if you're using all cash to buy, you're going to have much more cash flow, but it's, you know, obviously, a higher upfront costs, gosh, I don't like him using the word obviously, all the time. It's a good good feedback from from Pierre because…


     


    Michael:


    It's not obvious Tom.


     


    Tom:


    It's not obvious. So anyways, it's a different return profile. And it depends on your risk tolerance, and where you are in your kind of time horizon of if you're planning to, you know, need to live off the cash flow, or all that kind of good stuff. So go ahead, Michael.


     


    Michael:


    Depending on your strategy for investing is often going to dictate what types of properties you want to be looking at, and then also how you want to be purchasing those properties. So for anybody listening to this podcast, we're actually going to be doing on the doing a screen share here in a minute, and showing some visuals about how I go through the property analysis section, and determine whether or not this property is best fit for an all cash purchase, or a finance purchase.


     


    So for those of you listening at home, or listening on the road, or not watching the YouTube version of this, the list price is 75,000. The current rent on it is $975 a month. And what I'm gonna be doing is walking through just how to evaluate this property, but also how to look at some of the different ways to purchase the property.


     


    And what I mean by that is Tom, Emil, and I could all be looking the exact same property. And depending on how we purchased it, Tom could use all debt, Emil could use 50% financing, and I could use 20, or rather 80% financing with a 20% down payment, the performance of that exact same property with the same income and expenses could look vastly different for the three of us.


     


    And so what I'm gonna do is I'm going to scroll down the page and click on financials. And then I'm going to start playing around with some of the assumptio

    • 14 min
    Here's What Roofstock Academy Mastermind Sessions Look Like

    Here's What Roofstock Academy Mastermind Sessions Look Like

    This episode is an example of what the Roofstock Academy Mastermind sessions look like. Mastermind groups have long been a powerful tool that successful people use to support each other and advance their goals. Gathering a group of motivated individuals with a diverse range of skillsets to focus on one person at a time helps shine fresh light on challenges, uncover new solutions and provide accountability.


    The Mastermind group is just one of the many benefits we offer inside the Roofstock Academy.


    ---


    Transcript


    Tom:


    Greetings, and welcome to Roofstock Academy. My name is Tom Schneider. And I'm joined by Michael Albaum, Ryan Minekime and Dean West, and today we're going to be walking through a template of a mastermind group.


     


    So this is a mastermind session that lasts about an hour. And we're going to be going through the regular activities where everyone is going to provide an update on their successes, their challenges. We're going to go into specific action items. And then we're going to put Ryan on the hot seat and talk about what he's working on. We're going to grill them, we're going to give them some feedback, all that good stuff. All right.


     


    Dean:


    All right. Hi, everyone. My name is Dean West, a Roofstock Academy coach. And I have been investing in a couple markets now. Primarily Atlanta and Indianapolis. I believe I'm the the remotest real estate investor. I'm currently in Cape Town, South Africa, while investing in the US.


     


    Ryan:


    Hello everyone, I'm Ryan Minekime. I'm also coach at the Roofstock Academy. I've been investing for about seven or eight years, I started out investing in California. And now I'm doing bur investing in the Indianapolis market as well. And I live in the Bay Area, California.


     


    Tom:


    Hey, my name is Tom Schneider. I'm also a coach at Roofstock Academy. I have been investing for about 10 years, and I invest remotely in the southeast of the United States as well as the North East.


     


    Michael:


    Hey, everybody, I'm Michael album, I'm also a coach at the Roofstock Academy. I like Ryan got my start investing in Southern California about a decade ago and do value add multifamily investing all over the country with a emphasis and focus on the Midwest on some of those Midwest markets.


     


    Dean:


    Alright. So I'm really excited today to on behalf of rootstock Academy to be introducing mastermind groups. And a mastermind group is something that's actually quite near and dear to my heart. It's It's when I first started out several years back, I was in my own mastermind group with three other people. And that's the one thing that really spurred me to take action on my real estate investing and pushed me both professionally and personally.


     


    So the mastermind group what it is, it's a accountability group of like minded people. So groups typically consist of three to five people. And there's certain roles within the group. And how it's broken down is it's broken into four major sections. And the sections talk about kind of the week overview, talking about, you know, some of the challenges and successes that you've had during the week goes then into talking about, you know, what, what your major or epic goal is that you're trying to achieve. And it doesn't just have to be in real estate, I actually I encourage people to talk about not just real estate, but also kind of personal if you're looking to lose 10 pounds or something like that, as well as invest in a property in Dallas, Texas. Great, put it out there. And I think it's something that's, that's really helpful for people to grow.


     


    One of the big things we do in a mastermind group is what's called the hot seat, the hot seat is kind of a deep dive. So every week on a rotating basis, and the hot seat is chosen for one person and and that person talks about any challenge that they're having that they

    • 58 min
    2 Tips On Intelligently Navigating the Current Real Estate Market

    2 Tips On Intelligently Navigating the Current Real Estate Market

    As you may have noticed, the market is crazy right now, and knowing what to do can be a challenge.  Today we give a couple of quick tips on how you can make the most out of the current state of the real estate environment. 


    ---


    Transcription


    Michael:


    Hey everybody, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by my co hosts,


     


    Tom:


    Tom Schneider,


     


    Emil:


    And Emil Shour


     


    Michael:


    And today we're gonna be tackling what should you be doing right now given the current state of the market with interest rates, where they are and values doing what they're doing.


     


    Alright guys, before we get into it, I just want to give a call out to all of our listeners, all of our watchers, we just launched our YouTube channel, we would love, love, love. If you came over and liked and subscribed to the channel, we've got tons of new content coming out regularly, I want to make sure everyone stays up to date. So that's a big help for us.


     


    And as always, if there are content ideas that you want to hear an episode about, let us know drop us a line in the comment section. Wherever it is listen to your podcast. Alright guys, before we jump in today's episode, where are we at? How are things coming? Tom, you got your insurance all squared away, right?


     


    Tom:


    Yes, yeah. So what I did recently was a long story short, I guess short story long. My insurance is a bit of a mess on my rental properties. I was using this third party company and they kind of dropped the ball where I paid to renew but they like sent me a refund. I mean, this I'm probably it's probably my fault. But anyways, short story long, I ended up getting lender placed insurance for like a few months. And wouldn't lender place insurance. It's not necessarily what you want, you're maybe not getting the coverage you want, you're probably paying way more than you should. So what I did through the the prodding and poking of a meal and Michael to keep me going is I did some bundling, I went to my home insurance, the company that does my house and my cars. And I added my rental properties all on on one gigantic policy, I would say you know, when it's all said and done, my costs on my insurance are probably pretty comparable to what they were but the coverages was way more expansive, with a little bit lower deductibles and just a little more, those blankets at night are a little bit warmer, the pillows a little bit softer of comfortable.


     


    So did that finishing up refining, seeing a couple of rentals, getting them all refinance, actually under the same lender that ended up buying a bunch of my other loans. So it's there's some convenience there of having it all through the same lender first a bunch of the rentals that I have. So that's my…


     


    Michael:


    Nice, Emil, what's good in your world?


    Emil:


    Tom, I just want to first say how proud I am of you that you did it, man. like six months, but you did it to there.


     


    Tom:


    Yeah. There are things in this world that you know, like wouldn't take a lot of effort. But for whatever reason, it was in this like rebellious little part of you, like just doesn't want to do it. And like the moment you do it, it's like, gosh, why did I do that like a long time ago. And that kind of stuff like pops up all over the place? You just need to get through the fog and just, you know, just do I don't know. But thank you. No, thank you that positive reinforcement has me geared up to continue to do things that I for whatever reason, like the rebelliously like have a hard time finishing through on so thanks, man.


     


    Michael:


    Yeah, Tom. I'm also proud of you. Nice work, man.


     


    Tom:


    Michael, that sounds fake. Thanks, Emil.


     


    Michael:


    Just kidding.


     


    Emil:


    I'm actually proud of you. Michael is patronizing you.


     


    Michael:

    • 20 min

Customer Reviews

4.8 out of 5
122 Ratings

122 Ratings

Btothek2237 ,

The best real estate pod!

These guys are great! They break things down in a simple manner and I appreciate the various experiences they share. I look forward to every episode as my wife and I are close to obtaining our first investment property.

Pavan Sandhu ,

Real estate views

Great insights and prospective from people all over the real estate world. Enjoying the show

long time first time in a car ,

Love this pod

Found this by following Michael on Twitter and love listening and am learning a lot. The hosts are also very friendly and engaging on Twitter answering Qs and suggesting pod Eps for subjects. Great guys and just overall helpful for learning about real estate investing.

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