Cash Flow Guys Podcast

In this week’s episode, Tyler calls on a For Sale By Owner Duplex to learn more about the situation to determine if creative acquisition was possible. Last week, Tyler heard of this opportunity from a member of the mentoring group he belongs to when a member stated the seller refused to consider any creative alternatives.  In the Craigslist ad, the seller stated a cash sale was the only option.  The Seller also stated a 7% Cap Rate which seems inaccurate based on the listed purchase price of $245,000 and income of $1,690 a month. Listen in as you hear Tyler set the stage for a fact finding conversation where he uses positioning techniques to help the seller feel “in charge” or in control of the conversation.  Many of the tactics Tyler uses are found in the famous book “How to Win Friends and Influence People” by Dale Carnegie. When dealing with a seller or Real Estate agent, you will often find them to be close minded when it comes to creative acquisition. You see, people fear what they don’t understand, and all too often they make assumptions on how things are, or will be, inaccurately. Tyler being a student of Real Estate Legend Larry Harbolt, and others, has learned how to navigate these sometimes treacherous waters ending up with a great conversation and a little to no money down deal in many cases.  If you want to learn more about the bootcamp Tyler attends twice a year, go to http://cashflowguys.com/NoBanks As a student of Larry Harbolt, you only pay once, and then get to repeat the course twice a year at no additional cost.  This is something that Tyler does to keep sharp on his negotiating skills which has allowed him to build a large portfolio of rental properties. To gain more negotiation skills examples, consider joining our free Facebook group at http://cashflowguys.com/group

So I motivated you to buy your first rental property, and now comes the reasons why you cannot buy one.   No Money:  Sell junk you don’t need, sell others stuff they don’t need, get a part time job, find someone with an IRA sitting idle, stop overspending, quit smoking, quit drinking.  No money is a lame excuse, recently in my mentoring club it took the members a matter of MINUTES to list 100 ways to earn $97.00 to join the mentoring club and be held accountable while you learn.  Unlock equity from your other properties (responsibly)  Equity is overrated, focus on income versus expenses.   CashFlowGuys.com/Mentor   No Credit / Bad credit: Contact a reputable credit repair company, do exactly what they tell you to do, when they tell you.  Yes, it will take work and repetition, but in the end it is worth it.  Anyone can clean up their credit if time and discipline are applied to the problem.   No Time to Learn: In a week there are 168 hours, 56 for sleeping, 40 hours to work a job, 35 hours for eating, showering, driving, ect….37 hours left over to pursue your dreams.  Can’t concentrate when reading?  Open an audible account and listen to audiobooks, listen to podcasts.  Cannot afford books? They are free at the library (including audio books)  Podcasts are free also.   Prices to High: Cash Flow Buyers should not care as much about price as they do terms.  Paying cash for a property is only to be used as a last resort.  Learn to find problems not properties.  People with problems are motivated to sell for a reduced price or on terms.  Write offers that solve their problems.  DO NOT WAIT for market corrections and then plan to use leverage with bank loans...when the market tanks, the banks tighten the purse strings.  Timing the market always leads to disappointment because real estate market cycles adjust slowly unlike the stock market.   I am afraid of too much debt: As compared to what?  Do you honestly think you can multiply the cash you have on hand right now enough to retire from?  Can you honestly say that with a straight face?  How exactly are you going to grow the actual cash you have right now to an amount large enough to retire from with a better quality of life?  How about your child’s college tuition?  Will your FEAR of good debt result in your child going to community college instead of having the best education possible?  Denise Fleming, are you listening to me?  What if you lost that high paying job tomorrow, then how will you provide for your family?  It takes good debt, aka leverage to grow financially.  That is because your returns are then based on much larger amounts than what you have personally invested. Are you allowing the irresponsible acts of yesterday control tomorrow?  Are you going to blame the past, your family, the market and the weather on your lack of wealth?  I advocate good debt, not bad debt.  That means whatever is leveraged MUST be able to support the amount of debt assigned to it with a healthy profit built in.  You can be conservative AND apply leverage to your advantage.   I am afraid: What are you afraid of?  Looking stupid?  You cannot learn and look good at the same time, not possible, get over it.  Anyway, who are you going to impress when you are flipping burgers at 70 years old?  Fear Stands for: False Evidence Appearing Real, fear is a liar….don’t believe in it.  I understand fear of success to be a real thing, many suffer from it but you should not.   Don’t want to deal with tenants and toilets: Here is the good news, they make property managers to handle that.  Also? don’t rent to scumbags, unless you are a slumlord….. then scumbags are all you deserve to have in your properties.  Provide a quality product and quality experience and you will receive the same in return.  Be smart about who you rent to, never be desperate to rent your property to just anyone.  Making money will hurt sometime, not all the time but sometime.  If it were easy, then everyone would be rich.  Is dealing with property management or tenants better or worse than retiring poor?  Only you can decide.  Know this, if you think your Government, or Wall Street is going to help you retire you better think again.  Wall Street is about fees, I frankly have no earthly idea what Government is about.   No experience: You can get experience starting tomorrow.  You can build a team without spending a dime, that is just an investment of time. (OH look I made a rhyme)  Educate yourself, find a mentor, hire a coach, get an accountability partner, join a mastermind, go to an investor’s meeting. Lack of experience is nothing more than a lame excuse, the only thing stopping you from learning is your lack of action, so simply take action. My next group coaching is specifically designed to overcome the “I don’t have any experience” excuse.  We are also going to tackle the “I am afraid excuse”.  My students come out of my program ready to take massive action.  During my coaching sessions my students learn negotiation skills and adapt a mindset that puts them on the fast track to success.  To apply to my next group coaching session visit CashFlowGuys.com/coach.

January 1st has come and gone….what are you going to do different this year than ever before?   The Past: Why look back?  What good comes from living in the past?  If you Walk, Run, Drive or Fly while looking behind you what is likely to happen?  Do you really learn by your mistakes?  Does that mean you must live in the past? We cannot change what is done, yet we can have total control over the future.   Past Beliefs: Go to school, get a degree: Does this really make sense anymore?  The US Department of Education Stats show that the National Average cost to obtain a year degree at a Public University is $8,000 per year, that’s $32,000 for Bachelors, $64,000 for Masters.  That’s an AVERAGE.  The average cost is DOUBLE at a private university...that’s $128,000 for a Master’s degree. So...you become a Nurse...National average salary of $67,000 per year.  Your take home pay after taxes is around 48k or $4,000 a month.    Deductions: $350 Student Loans $125 Cable / Internet $100 Phone $350 Car Payment $400 Food $1000 Rent $125 Car Insurance $467 Health Insurance $200 Fuel $200 Entertainment (doodads) Net $683 Per MONTH 583 net after power   The New Truths: The average salesperson makes $63,000 per year with no college degree.  And has an opportunity to make much more. Millennials are more educated than their predecessors, often become self employed early on on their careers and tend to do a better job at avoiding student loan debt. If you bought one little house using an FHA mortgage priced at $70,000 and moved in for one year.  You would have $3,150 invested roughly.  The monthly cost to own that house would run you $466 per month, including the mortgage payment, taxes and insurance.  Therefore putting $600 per month additional in your pocket every month.  In 12 months that adds up to $7,200 a year! Next year you do the same thing again, this time using part of the $7,200 a month you saved up from last year.  You now rent the first house and move into the second house.  Now you have $600 savings from the current house and $344 net cashflow from renting the previous house.  That $944 per month adds up to $11,328 in your pocket in savings. Rinse….repeat. In five years it is quite possible to liquidate all the houses, and profit $42,338 EACH or $211,690 which includes the cumulative cash flow and appreciation.  Or you can just keep them and also keep the cash flow. Learn to Sell, Learn to Negotiate by listening, reading, practicing.  Join a mastermind, hire a coach, educate yourself.  Want to learn more about coaching opportunities?  Go to CashFlowGuys.com/coach. Lastly, its that time of year again to learn how to acquire property with little to none of your own money.  Larry Harbolt is offering his famous “Never Step Into a Bank Again” seminar in Tampa, FL Feb 16th -19th 2017 go to CashFlowGuys.com/NoBanks to learn more and register.    

This week on the CashFlowGuys Podcast Tyler Sheff answers questions sent in from our listeners.  We appreciate you taking the time to ask questions and love to provide more value to our listeners by answering them on the show in order for everyone listening to benefit from the answers. A bit of housekeeping:  I am happy to announce “Coffee with The CashFlowGuys” is my new live video program available via the Zoom video platform.  I will be hosting this live event on Friday Mornings at 9am eastern time.  You can register for free access at CashFlowGuys.com/Coffee  Many of our listeners have expressed an interest in coaching however have limited funds to hire a coach at this time.  Because of this need; I am now offering access to a mentoring club I am part of which can be accessed at CashFlowGuys.com/Mentor The group is made up of five mentors who can help you stay gain basic skills and practices as well as keep you focused on learning and self improvement.  Additionally, the mentors can help you via daily video calls where you can ask questions live and receive answers on things you need to know.  Note, this is not a “group coaching” platform, however is still a powerful resource to help you get started.  The cost is a nominal $97.00 per month. This week’s first question is from Jerome: I am getting started and have found that there are multiple things, life, that get in the way to getting started in real estate investing.   My Response: First, I need you think about what you will lose if you don’t take the steps to manage your time in order to accomplish your goals.  Episode 53 discusses the book “The One Thing” and should help you get more focused and block your time efficiently.  By allowing “life to get in the way” you are failing yourself and your family...sorry to be harsh, but I don’t want to hear someday that you never got started, and that you are 70 and still punching a clock somewhere.  I am here to help you on work through this issue. These things aside, I've been looking more for owner carry financing and lease purchase option opportunities in TN and FL where my wife and I are from, respectively. When I look at the properties available and running my numbers on potential properties the cash flow isn't as enticing as say my friends investments in a market that I currently live in. How do I know what the average ROI for a specific marketplace is or do I just look at the numbers and stick with what I "feel" is the percentage I want to invest in, no less than **%?   My Response: Try not to compare what you are doing to that of your friends.  I would imagine their investor identity is not exactly the same as yours.  In addition to that; I bet you are running numbers based on “what’s for sale” a/k/a “buying off the shelf”.  This means you are running numbers based on retail prices.  To get a good handle on what the marketplace is offering consider building your network and talk to more people.  Building a database is a critical part of the process.  Also, talk to an experience property manager in your area who has a good handle on the marketplace. One thought that may help you is to focus on finding problems, not properties.  By this I mean, that properties that have issues or property owners that have issues are often more inclined to be open to creative acquisition strategies or reduced purchase prices. My best advice is for you to think, plan and dream bigger than you might currently be.  Starting slow is fine, fear is understandable, however if you take bigger bites you will be glad you did later.   From Jose Good evening guys, I recently started listening to your podcast and have really enjoyed your insights and points of views it is truly refreshing and what I've been looking for. I've always been interested in Real Estate investing but didn't know how to get started, I've read several books but they have not really appealed to me because they all included some form of slum lording. I do have a full time job but I also have a lot of free time and I would really appreciate it if you could point me in the right direction, what books should I be reading? I'd really like to start researching. Thanks in advance for your help and for your great podcast. Jose   Jose begin with the following books: Rich Dad Poor Dad by Robert Kiyosaki CashFlow Quadrant by Robert Kiyosaki The ABC's of Real Estate Investing by Ken McElroy The Advanced Guide to Real Estate Investing by Ken McElroy Equity Happens from Robert Helms and Russ Grey Building Wealth One House at a Time John Schaub (Updated Edition) When you finish these books, go to CashFlowGuys.com/AskTyler and lets help you develop a strategy that fits your needs to help get you started.

Transitioning from Earned income to Passive income and from little money to big money This episode is dedicated to Marv McFly who is a member of a private members only real estate education group where I provide mentorship to group of new investors who are learning how to take action in real estate.  Learn more at cashflowguys.com/mentor The group has five mentors that hosts several video calls per week covering a wide variety of topics and provides a low cost educational opportunities to those who cannot fit traditional coaching into their budget.  This group is a great way to get your feet wet in the investing community and is available at a cost of only $97.00 per month.  For more info on that catch my video at cashflowguys.com/mentor Many Real Estate Investors / wholesalers and rehabbers who escape their 9 to 5 often spend themselves right back into the job again which is the topic of this week’s episode of the cash flow guys podcast. Everyone I meet lately seems to want to begin their investing future with wholesaling.  Frankly, there is nothing wrong with that, provided it is thought of as a means to an end.  Wholesaling a great tool to help an investor learn valuable negotiation skills which will help them later.  The problem is for many, wholesaling becomes a trap. A vicious cycle if you will…. You spend a bunch of money on bandit signs that say “we buy houses cash”, you spend tons of money on direct mail using the trial and error method and obtain a few leads.  Hopefully you get something under contract that you already have a buyer for.  If you fell for the common trap of first “getting a deal” you have even more work ahead of you. Closing happens, you collect your payday and then reinvest most of it (or all) into marketing, taxes and much more to get the next deal.  Worse, you forget all about paying your taxes...or simply try to avoid doing so and wind up with a big tax bill with interest and penalties due. Systems are critical as an investor, one of the most important is the system of how to adapt a marketing budget, a written business plan outlining the expenses forecasted and the expected returns from the expenses.  From there is is track, measure, verify, then adjust, tweak, measure, track verify until you are confident your operating budget is correct and realistic….that it will allow for future growth. If you came from a place where you made little money in your job, there is a good chance you will get easily sucked in by doodads, or those things that take money out of your pocket but never put it back in.  You might be tempted to slack off a little when a payday comes.  The problem is that slacking off only serves to delay the arrival of the next payday. You must pay yourself first as Robert Kiyosaki teaches...instead of spending your earnings on junk, take a portion of those earnings and pay yourself by investing that cash into something that will yield a return.  That comes BEFORE paying bills, BEFORE having fun BEFORE the Bling or doodads… In a short period of time a few hundred dollars easily can be turned into a few thousand by practicing the art of arbitrage.  That is... buy something low and resell it for more, or put your money to work making you more money by investing in a promissory note. And earn a yield on your investment over time. The cashflow quadrant teaches us that we can be separated into four quadrants, E for employee (Has a Job) S for Self Employed (Owns a Job) (Wholesaler) B for Business Owner (Owns a Business that provides jobs to others) I for Investor   Instead...wholesale a few houses if you must….but what if you just dove in to buy and hold as a strategy….what if you served only buy and hold buyers in your wholesaling activities…..then learned to manage the rentals...then partner with those buyers and eventually buy your own...how would that change your outcome?? Just about anyone can fix their credit these days with some self discipline in a year or less, sometimes maybe a little longer but the point is it can be done.  You could then buy a duplex with a low down payment...3.5% and move in one side for a year….then move out and do it all over again.  That means a $100,000 duplex requires you to come up with $3,500 down and some closing costs (get seller to pay them) Buy one per year at $400 cashflow each duplex, in ten years by doing nothing else you are making $48,000 a year passively.  That income will last a lifetime if you want it to.  Want more? Acquire more assets. Want to learn more? Need help getting unstuck?  Head on over to CashFlowGuys.com/AskTyler to book some time to get on the phone with Tyler and get pointed in the right direction.  

Before we begin don’t forget to join our Facebook group at CashFlowGuys.com/group which leads directly to site.  Recently we did our first live video Q and A which was a big hit.  We received great feedback from those of you that attended. The beauty of the Zoom video platform we use is that you can still join a call while having your side’s video and audio turned off.  You can literally be a fly on the wall if you want to learn without engagement. People always say they are looking for good deals….but when I ask them what a good deal to them is, they are often unable to answer.  In this episode we will discuss what a good deal may or may not look like to you. Regardless of the investment opportunity, there are usually many factors that determine if a deal is good or bad.  The problem is that many investors (and their Realtors) don’t spend enough time in the discovery of identifying what a good deal means to them (or their client if they are Realtors.) How are we paying for it?  The terms of the deal (for our team) is the “maker or breaker” of the deal.  We don’t believe in paying cash for properties if it can be avoided.  Each and every offer we present for investment property includes an offer of terms for the seller to consider.  For us to make such an offer we must first understand why a seller is selling and what they plan to use the proceeds for.  (more of this to follow on future episodes) Below are a few of the benefits that a buyer and seller can receive from structuring terms for a real estate purchase (payments for equity over time)   Buyer Benefit: Greatly diminished closing costs for the buyer No Appraisal Fees No Origination Fees No Points No Flood Insurance Required   Seller Benefit: Reduced Capital Gains Tax Faster Closing Predictable Stream of Income For The Future Higher Sales Price Higher Overall Return From The Sale Hedge Against Inflation   A HUGE mistake that I see investors make often is paying based on the future performance of an asset versus its current performance.  We as investors cannot reward a seller for poor performance of an asset by compensating them based on future performance. Speaking of performance, when underwriting an investment opportunity, we must identify the reason the property is not performing as it should.  If we are unable to identify that we should not be proceeding with the purchase until such time the issue is found and a solution is decided upon. An example would be poor financial management practices, caused by a weak and ineffective property manager who did not keep good records.  A solution would be to request all bank records for the property and management company to audit the situation and discover the amounts of deposits made and identify any shortcomings.  Additionally, a new manager must be identified and briefed before closing in order to take over immediately after transfer of the deed.  As an extra measure, the trailing 12 months or 24 months reports should be scrutinized along with the last 24 months of tax returns. When analyzing an opportunity, the investor should consider how much cash they have in the deal, and what their cash on cash return is.  Then decide what an acceptable return should be to make it worth your time.  One method of determining that is to factor your time spent in the deal and assign an hourly value to that.  Once you have determined the hourly rate, multiply it by the number of hours you feel you will spend working on this deal throughout the year. Cap Rate...I dislike this term! it provides false assurance of a solid investment.  Capitalization  Rate is carelessly used in the industry as a baseline and sometimes a deciding factor when making a purchase decision.  It is best defined as the ratio of the net operating income to the purchase price.  This metric does not factor in repairs or debt service, and these two items on their own can make or break a deal. Debt Coverage Ratio / DCR / DSCR is best defined as the ratio of cash available to service the debt (principal and Interest) of an asset.  Acceptable ratios fall between 1.25 and 2.0 or higher depending on who you ask.  By nature, I am conservative thus a DCR around 2.0 is my ideal metric. When working with a real estate professional buying multi family property be sure your agent owns or has owned or controlled such assets.  This is a critical qualifier to be assured they fully understand the ownership aspect of this type of investment. More often than not inexperienced Realtors use “comps” or comparable cales as a means to price or value multi family properties.  This usually leads to inaccurate and often over inflated values.  The true value of a rental property is derived from the income it produces.  

“Shiny object” is a phrase that at one time was simply a humorous reference to someone who was not paying attention.  Over the years it has grown into a big problem for many people, both children and adults. Lack of productivity has also been a curse in the lives of many until that one day the One Thing became a book and then a culture. In this episode of the Cash Flow Guys Podcast, Tyler is lucky enough to have the chance to speak directly to Jay Papasan the co author of this incredible book, known as the One Thing. This interview will prove to be a game changer for many, as I assure you it has been for our host.  Listening to Jay discuss how to overcome life’s challenges is a treat that all will enjoy. As a bonus offer to our listeners, you can receive a transcription of this episode which includes tips and ideas that were not originally included in the book when it went to print.   Jay’s Bio: Jay Papasan is a bestselling author that serves as vice president and executive editor at Keller Williams Realty International, the world's largest real estate company. He is also VP of KellerINK, co-owner of Keller Capital, and co-owner of Papasan Properties Group with Keller Williams Realty in Austin, Texas. Jay is best known for his most recent work with Gary Keller on The ONE Thing which has sold over half a million copies worldwide and garnered more than 250 appearances on national bestseller lists, including #1 on The Wall Street Journal’s hardcover business list.   Tyler’s Bio: Tyler Sheff is the Founder of CashFlowGuys.com is also a licensed commercial real estate agent with a focus in multi-family apartment buildings and mobile home parks. Tyler has been involved in Real Estate for over 17 years and now maintains a 100% focus on investing for Cashflow and helping others do the same. As a Master Facilitator of Robert Kiyosaki’s CashFlow101 Game; Tyler hosts workshops in the Tampa Bay area to teach the busy people how to escape the rat race by acquiring cash flowing assets.  He and his team teach busy individuals how to leverage the resources they have to build a financial future for themselves. Tyler and his team acquire, stabilize, and then provide clean, safe affordable housing to those in need when it matters most. As the host of the Cash Flow Guys Podcast, Tyler teaches the public how to avoid common pitfalls found in real estate investing and inspires others to take massive action towards their goals.   Services / Resources Sourcing, Acquisition, Funding and Stabilization Assistance of cash flowing real estate and notes One on one private coaching to help busy investors address specific concerns, fears or areas of concentration. Group coaching intended to prepare beginning investors for success in the real estate investing arena covering virtually all aspects of investment real estate. Individual Investment Opportunity Review / Underwriting and Analysis to help you decide if an investment is right for you

In this episode we welcome Jimmy Fallon and Bob Scott; they are the owners of Joint Ops Properties out of St. Louis and they are investors that specialize in lease option strategies of single-family homes. Bob and Jimmy are veterans of the US Armed Forces which is where they learned to lead themselves to success in the private sector.  Having a military mindset prepares them to work effectively with in teams in a management capacity. It's that military background that automatically thrusts them into the position of being natural leaders in the marketplace. When they started their business they discovered a need in the marketplace for clean, safe, affordable housing that was easily financeable by those with credit challenges.  They discovered for a majority of Americans; home ownership is nearly impossible which is what inspired them to focus their energy on the strategy of lease options. Typically they will buy a home and do the necessary renovations to make it financeable, clean and safe.  At that time, they secure a tenant buyer that they feel is qualified to enter into their program.  Once the buyer enters the program they are paired with a lender and credit repair company that helps prepare them to be able to refinance and purchase the property at a later time. Bob and Jimmy believe in creating win-win solutions for all who they deal with on a day-to-day basis; much of that as possible by proper screening of the potential tenants.  During the episode Bob mentioned rently.com which is a self-service lockbox.  Basically how it works is that you buy a special lock box from the website and that's in coded with a special code that allows the manager or landlord to give the prospective tenant buyers the ability to open the door with a special one time use code.  It also tracks their whereabouts and times of entry in the event of trouble.      

Today we are talking with Tiffanie Kellog who is the author of the book 4½ Networking Mistakes Over the past decade, Tiffanie Kellog has helped thousands of entrepreneurs make more money while saving time so they can have more fun by creating referrals for life. Tiffanie is in demand as a professional keynote speaker, coach and trainer with the Referral Institute, and is co-owner of a business with her husband Rob. I met her at a local networking event put on annually by the Tampa Bay Business Owners (TBBO).  Before we go any further, I want to invite any of my listeners that are considering an investing business to join me at Podfest 2017 Multimedia Expo.  Podfest is the annual event that convinced me to start the CashFlowGuys podcast and has introduced me to many notable people that have changed my life in many ways.  No matter if you want to start a youtube channel, podcast or any other digital type blog this event will certainly help you launch and provide you with solid information to take the next steps. Tiffanie started a business several years ago and by doing so was forced to cold call in order to gain business.  After a short time, she discovered there had to be a better way and begun mastering the fine art of person to person networking.  Mastering networking was certainly a challenge, however she rose to the challenge which eventually led her to write a book on the subject. During our conversation she mentions that we should take the opportunity to share “why” we are doing our chosen profession which tends to make the conversation more memorable. Business cards are often misused in a networking environment although they certainly have their place in the event when deployed properly.  First, make introductions and have a good conversation.  If you are interested in what the other person may have to offer you at some future point, ask for their card at that time.  If the feeling is mutual, they will ask for yours. The bottom line is to not provide the card until asked for it to avoid “in-person spamming” More often than not; people make this critical networking mistake by forcing a business card on someone before they're ready to receive it.  In today’s society we find people not taking the time to really focus on what the other party does for a living.  I have found this to be the case on several occasions while at networking events. A very effective means of follow-up includes sending a personalized handwritten note to the person that you meet at the networking event.  It's the little things like this that make you stand out in this busy world we live in today. In order to network effectively be careful of spamming your prospect unknowingly. Constant contact that is unwelcome or unsolicited could be misconstrued as spam. Name tags are an important part of networking; it puts people at ease when they meet you especially for a second time when they may have forgotten your name. When using a name tag; keep it simple.  A company logo is appropriate as is a first name, last name and be sure skip the titles.  A catchy tagline would help people make you more memorable Networking isn't about building a huge database of people that you're never going to talk to. Instead, it's about building a refined core group of people that will refer you on a regular basis over and over again.  Its methodology is likened to speed dating; it's getting in front of several people meeting them and then refining the list of people that are most likely to refer you on a regular basis. You can pickup your copy of Tiffanie’s book by using the following affiliate link: http://amzn.to/2eQSDth Lastly, if you want to get together to have a conversation over the phone with me help you get unstuck, get motivated or get more information about how you can get to the next level in your real estate investing and go to CashfFlowGuys.com/AskTyler If you have not yet joined our Facebook group, head on over to CashFlowGuys.com/Group to become a member and take part in our video Q and A’s and tutorials.    

John Carney is a third generation property investor and developer.  He has invested in the US, Australia, and Indonesia A published author and sought-after international keynote speaker, John’s attractive presentation, and book, Real Estate is a Team Sport. The Nine Players You Need to Profit, outlines the steps to become a smarter, more successful property investor. Born in Cleveland, Ohio, yet moved to Melbourne with his Australian wife in 2009 following the aftermath of The Global Financial Crisis. Although John was working in real estate while being enticed by top tier international commercial real estate firms, he decided to start his own business with local Australian partners and his US-based real estate network. America Property Source was born in 2010 and continues to flourish and evolve today. In this episode, we learned that America Property Source was built as a turnkey provider that allows the overseas investor to “pick from the menu” of real estate service providers.  Due to soaring property prices in Australia, it is difficult if not almost impossible to invest for cash flow.  Situations such as this often cause the investing community to look elsewhere for opportunity. This book serves well as a desk reference for me (Tyler) in keeping me on point with strategies to build my team and improve my resources for my clients.  The book is a step by step blueprint to finding, screening and then making selections based on the person who is the “right fit” for your team.  The good fit is someone who you get to be stuck on a plane ride with for a long time that only felt like a short trip upon reaching your destination. In the book, John discusses the value (and mindset) in hiring skilled professionals to help you build your portfolio.  He goes on to say how shopping by price should not matter initially, instead find someone whose personality is compatible with yours. An example is used regarding the author using an attorney to help structure a deal and to help avoid pitfalls even during the negotiation process.  The mindset shift was an eye-opening way of thinking for me. You can reach John via his website at JohnCarneyOnline.com where links to his social media can are located.