Cash Flow Guys Podcast

Today I am joined by one of the "Old Dawgs" of real estate, Bill Manaserro. Bill is the host and "Top Dawg" of The Old Dawg’s REI Network podcast, which focuses on helping investors 50 years and older to build their retirement and leave a legacy for their children. His goal is to build a portfolio of 1,000 doors in just six years.

If you’re an investor in today’s market and you don’t have cash in your pocket to burn, then you’ve got to be communicating directly with the decision maker. We think that working with the listing agent instead of talking with the seller themselves will net us a better deal in the long term, but that is FAR from true.

In this episode, I want to talk specifically about leveraging your way into financial freedom. In addition to that, I want to revisit fear and discuss how fear keeps us in financial jail. I heard a quote recently in a book, it said: "When you succumb to fear you are under the illusion that you can predict the future".

Today I have got a fantastic guest for you! He is the host of the "Real Estate Mogul" podcast and owns Ocean City Development, a real estate investment company based out of Boston. He’s purchased over 500 properties to fix ‘n flip, wholesale, and buy and hold in the past 5 years. Tom is considered one of the "masters of marketing" in the real estate investing space, and that’s what we’re going to talk about with him today.

Today I want to talk to you about wholesaling, and why so many fail at it as an exit strategy. Now I’m not trying to get down on you wholesalers out there, but there are ways to improve and do better in the marketplace. This isn’t meant to be a negative episode, it’s meant to be CONSTRUCTIVE and help you solve more problems in your area. What is a wholesaler’s job? Most people, even wholesalers themselves, don’t know. Many think they have to begin as a wholesaler in order to start making money in real estate. That’s simply not true; wholesaling is an EXIT STRATEGY, not an identity. You are a real estate investor who found a problem property that doesn’t meet your criteria. A wholesaler’s job is to negotiate discounted real estate purchases for buyers from MOTIVATED sellers. Your job is not to manhandle the property from a seller or try to finagle a steep discount on a MLS property. A wholesaler MUST be seller-direct, otherwise you’re wasting everyone’s time. You have to be direct. Working through a realtor is NOT direct. You can’t work directly with a seller if you’re having to talk through multiple channels. In short, don’t bother with realtors if you’re looking to wholesale a property. Bottom line: You should be finding properties for buyers, NOT the other way around. Solve problems, don't create new ones. Don’t forget to join our Facebook community at CashFlowGuys.com/Community. If you want to subscribe to our Youtube channel, then make sure you visit CashFlow Guys.com/tv If you want specific videos on a topic, visit CashFlowGuys.com or email us at info@CashFlowGuys.com.

"TMI" has always stood as an acronym to mean "Too Much Information," but more specifically related to information of a personal nature. We can all agree that today’s "technology age" tends to serve us far more information that any one person could be able to consume.  In today's society more than any other time in history, man is working overtime to compete for our attention. The recent cryptocurrency craze proves this very point. In this example, lots of people with no prior experience or credentials in economics became "overnight experts" in the crypto space. These "experts" began dolling out investment advice that lacked any credibility whatsoever.

I get a LOT of emails from all of you at home, asking about my good friend and investing partner, Paige Panzarello. "Tyler, where’s Paige? Why hasn’t Paige been on in a while? We love Paige more than you!" Ok, the last one didn’t happen, but that’s how it feels sometimes! I know you all love it when I have Paige on the show, and I’ve brought her back today. We have some STELLAR news to share with all of you at the end of the episode, especially those of you in the Tampa Bay market!

Fear of Missing Out FoMO stands for "Fear Of Missing Out", and is defined by Wikipedia as: "A pervasive apprehension that others might be having rewarding experiences from which one is absent". This social anxiety is characterized by "a desire to stay continually connected with what others are doing". FoMO is also defined as a fear of regret, which may lead to a compulsive concern that one might miss an opportunity for social interaction, a novel experience, profitable investment, or other satisfying events. In other words, FoMO perpetuates the fear of having made the wrong decision on how to spend time, as "you can imagine how things could be different".

As the time of this recording, the students in the MailBox Money Mastermind are on a journey of self-discovery. They are learning right from the beginning how to effectively overcome objection and to become highly skilled negotiators. As I guide them through this process of learning, I really enjoy watching them win, and creating win / win solutions. I have them undertaking specific tasks which are designed to help them learn how to deal with rejection and how to lessen the likelihood of it occurring.

Recently a colleague asked a question on a Facebook group of which I am a member. The question pertained to a "contract for deed". Specifically, the "investor" was requesting to acquire a property via a "contract for deed subject to". This is a classic case of a tongue-twisted newbie investor, using language that they don’t fully understand. Let me explain on this episode.