Cash Flow Guys Podcast

Productivity Guru Nick Snapp joins Tyler Sheff in this week’s episode of the Cash Flow Guys Podcast to discuss the fine art of being productive on purpose.   Nick is the host of the Make It Snappy Podcast   As we have discussed before, defining your true “why” and more importantly “THE” “Why” must be uncovered.  Once this critical piece is discovered, it needs to be broken out into a process.  The process should focus on that “One Thing” needed to accomplish what you need to.   Often, beginning real estate investors have difficulty getting their family on board with building a new business.  Fear of failure, or obscurity tends to shy many people away from the realm of investing in general.  Spouses, parents, ect develop financial concerns that are tied to potential failure, and often wind up contributing to failure at the same time, often unbeknownst to them.   In general, people often fear what they do not understand.  By involving your immediate family or influencers in the learning process the beginning investor can often have a better experience when others are learning along with them.   Time Communication is also an important element that leads to a far better overall experience.  By sharing your calendar with your spouse or accountability partner, transparency is created as is more productive use of available time.   Nick plans 5 to 6 hours of blocked out time, leaving the rest of the day for variation allowances.  This method makes scheduling far more manageable and allows for more completed projects.   Nick and Tyler both use ToDoist as a task manager application.  Nick then uses it to fill up those blocked out sections of time with specific tasks.   To learn more about Nick’s Ninja Productivity Secrets take a listen to this episode and then visit his website at http://www.makeitsnappyshow.com/   Stuck on how to get started in real estate investing?  Get a free 30 minute consultation at CashFlowGuys.com/AskTyler  

In this episode Tyler Sheff answers several questions from the CashFlowGuys.com Podcast audience.     We begin with seller financing where a listener asks “How can I convince the seller to accept owner financing”.  Tyler explains several ways that owner financing aka Seller Financing or Purchase Money Mortgages can be explained to a seller to where it makes sense to them.     An old saying says “A man convinced against his will is of the same opinion still”  This means that you cannot force your opinions and ideas on others, instead you have to explain it in a way that brings the other person to a point to where your idea becomes their idea.  By taking the time to explain the features and benefits of your idea to them, they can begin to discover what is “in it for them”   There are numerous benefits to seller financing that homeowners need to be made aware of.  This is one of the most used strategies that Tyler teaches his coaching students.  When structured properly, it can create a true win / win relationship.  Tyler goes on to provide some real world examples that can be used to assist you in obtaining terms on your next real estate purchase.   Tax advantages are a popular benefit of seller financing.  By explaining the basics of these advantages, you may be able to pique the interest of the seller.  Publication 537 if the IRS code discusses the tax advantages if installment sale agreements (seller financing).  An investor should become very familiar with this publication and Section 121 of IRS code.   By learning to negotiate terms as a wholesaler or rehabber you will able to acquire and flip far more property.  When you make the property you are offering “easier to buy” far more buyers are attracted.  What happens when you open your property up to a larger audience?  The price goes up...WAY UP.   Take the time to truly discover the needs of the seller.  This one point is the most often overlooked thing that Realtors miss.  Ask a listing agent “why are they selling”, most will not be able to tell you why the seller is really selling.  If you listen to the answers to the questions you ask, often you will learn, how much money the seller really needs.  Sometimes….they don’t really need money at all (yes that is true).   Do you feel that mastering the mindset for seller financing is important for you?  Do you feel you could buy much more real estate if you had the training on how to master this mindset?  To talk to Tyler about becoming a Cash Flow Guys Coaching Client, book some time on his schedule at CashFlowGuys.com/coach To read discussions on our private Facebook group on this subject or watch Tyler’s videos on it go to CashFlowGuys.com/Group to join our free Facebook Group.

Mindset shift.....Your tenants are your customers.  In this episode, Tyler Sheff discusses several topics related to being a good landlord while still maintaining profits.   When you have convinced yourself that it IS your responsibility to provide clean, safe, affordable housing, you will find out that your chances of success will be far greater. Mindset is a big part of our success at CashFlowGuys.com.  Tyler Sheff and Jill Sheff spend a great deal of time learning and continuing to self improve.  When working with their coaching students, mindset and the psychology of learning how to work with people is a big part of what they teach. If you are in a place where you are ready to take your investing career to the next level, then book a coaching consultation with Tyler by visiting CashFlowGuys.com/Coach During that free one hour consultation, Tyler will provide you an in depth look at the strategies he uses and will teach you to help you achieve your investing goals in the shortest amount of time possible.

Sometimes it takes learning the same thing more than once….or twice….. to sink in.   Recently I was provided an opportunity to travel to Puerto Rico with the crew of “The Messengers” documentary to film John Lee Dumas of Entrepreneur on Fire and Kate Ericson of the “Kate’s Take” audio blog.  The crew and I had a great time and learned quite a bit from two legendary podcasters.  What I did not expect is what else I learned….again…..   Keep it simple - JLD was asked how he responds to people’s judgement and negativity of him making profits.  John looked at the interviewer and simply responded “I don’t”.  This is a very simple lesson, just ignore “naysayers”, ignore negative people and negative things, ignore doubt.     John and Kate’s studios are shockingly simple, a desk, computer and a microphone, yet these simple, affordable tools, yield them millions of dollars a year.  Their simple genius employs a series of virtual assistance to assist them in running their business.   In real estate (amongst other things), fear can be an overwhelming feeling.  We try (and succeed) in making things more difficult than they need to be.  If you want to succeed, simply decide to and then take the appropriate action to see it through to the finish line.   We do not need to complicate our lives or our vocation with many tools to accomplish simple tasks.  John and Kate built their business by simply doing things that others were unwilling to do.   Go Bigger - Why limit ourselves to barely making it?  Why settle for average results?  Can anyone really over perform?  If all you can focus on is getting the first rental house, how about buying the whole subdivision?  What can it hurt by going big?  Grant Cardone discusses the 10X principle in his book….why not 20x?   Don’t limit yourself based on your lack of experience, it takes action to gain experience.  By taking action you will make mistakes, making mistakes is a great way to learn.  Having a coach or a mentor will help you avoid many of the costly mistakes.   Your “why” determines how big you can take your goals…..the stronger the “why” the bigger your goals and actions should be.   Never Assume - If you guess what someone else is thinking, or how they will react, you will be wrong often.  If you want to know how someone will react, simply communicate with them.  If you want to know the answer, ask the question.   I have had numerous requests from listeners for coaching.  I have decided to expand my coaching program by opening up the books again.  If you have EVER considered getting involved in Real Estate Investing then perhaps you should take action NOW to contact me for more information.  You can book a One Hour consultation with me by going to CashFlowGuys.com/Coach

Working smarter not harder is the focus of this episode as Paige Panzarello of CashFlowChick.com and Tyler Sheff of CashFlowGuys.com discuss putting our money to work for us, instead of us working for it.  Paige and Tyler have spent the last year or so building a team to acquire non performing notes and service them effectively for our investors.   We take this opportunity to discuss a general overview of what exactly “notes” are, the ups and downs of the note investing business and how we can profit from “paper”.   We buy notes at a significant discount….these are notes that are “non”performing” which means the borrower has stopped paying.  The banks desire to sell these non paying notes at a discount to “clear their books”.  Often we find that the banks have not even bothered to reach out to the borrower to find out why they are not paying.   When we buy these notes, our team is able to reach out to the homeowners and often make arrangements to lower their loan costs or terms to allow them to start paying again.  More often than not we can make arrangements with them that allow them to get their life on track and often remain in their home.   The #1 most important element of investing in notes is the Due Diligence element.  We have invested a great amount of time and focus on building the right combination of people needed to be sure our due diligence is effective and protects us from unnecessary loss.  When working with investors, it is critical to be sure that we are extremely thorough in our research to protect our investor’s capital investment and future profits.   In future episodes we will be digging deeper into the note investing arena and providing further insight into this mysterious yet highly profitable venture.   Are you stuck as an investor and not sure what to invest in or what a good deal is?  Are you overwhelmed at the educational options available to you in the marketplace?  Would it help you to spend 30 minutes on the phone with Tyler in order for him to help you get “un-stuck”  if so head on over to CashFlowGuys.com/AskTyler to book a free strategy session with Tyler to get on track today.   Are you in the Tampa Bay Area?  If so go to CashFlowGuys.com/events to register for our next free event.

In this episode CashFlowGuy Tyler Sheff interviews another critical member of the Cash Flow Guys Team...introducing Kevin Overstreet of Insured Title Agency.     Kevin and his team have been instrumental in helping Tyler and his team close countless transactions across the country of all shapes and sizes.  One of the huge benefits of Insured Title team is that we don’t have to worry about the common pitfalls that other worry about because we are well protected by Insured Title when we close on real estate transactions.   Investors and home buyers of all kinds often rush to buy foreclosure properties in hopes of getting a great deal by buying from the banks.  In recent years, “HOA Foreclosures” have become popular due to buyers thinking they are getting a great deal.  The problem is that in many cases these buyers do not take the time to perform a title search to uncover all liens or encumbrances against the title of a property.   What we discovered is that when a homeowner gets behind on their bills, and the mortgage stops getting paid, the homeowner also stops paying the Homeowners Association Fees.  The HOA’s (being more proactive than big banks) file foreclosure paperwork faster than banks and can ensure the get themselves paid before the main home loan foreclosures.   To prevent being crushed by title issues on your next real estate purchase (anywhere in the United States….call Insured Title and tell them that the “CashFlowGuys” sent you.  They can answer any title related questions you may have and solve virtually any title related problems you will encounter.     Kevin and his team can be reached at (813) 855-3585 or visit their website at www.insured-title.com  The educational events that Kevin spoke of can be found at BABAevent.com

John Fedro is the Host of the Mobile Home Investing Lessons podcast and known as an expert in the mobile home space.     John is also the owner of MobileHomeInvesting.net which I have found to be a great resource and learning tool to get started in mobile home investing.  Have you ever considered mobile homes as an investment opportunity?   Prior to recording this episode Tyler Sheff discovered that John Fedro is a student of the great Larry Harbolt.  During this episodes, we discuss the basics of mobile home investing along with the stigmas that are attached to them.   Your host was blown away while talking to John about this niche investment space, little did he know there was such little competition.  People generally fear what they don’t understand, mobile home investing is no different.   When considering a niche area of investing, perhaps the less saturated areas are worth paying attention to.   Mobile home parks seem to carry less of a stigma and are generally found to be more attractive by the general investing community.  John feels much of this comes from the media attention that park investing brings.  Many national publications such as the NY Times, Huffington Post, ect tend to draw additional attention to the park niche.   John feels that taking the time to first own a few homes in a park helps the investor gain that experience to move into the park investing space.  A big part of the investment is the culture, and it is important for the investor to adapt to that culture by learning the customer they intend on serving.   When reselling a mobile home in a park, John Fedro recommends collecting the lot rent from the buyer to be sure that lot rent gets paid on time.  Speaking of time, when dealing with homes in parks, time is of the essence….that lot rent needs to be paid on time with no excuses.   When dealing with traditional homes, there are buyer’s markets and seller’s markets.  In the mobile home space that is not always true.  More often than not, the mobile home space remains a Buyer’s market because most sellers are looking for cash buyers due to it being tough to finance mobile homes.   To learn more about John’s niche marketplace, head on over to MobileHomeInvesting.net   Have you joined our facebook group yet?  If not head over to CashFlowGuys.com/Group   Ready to take your investing to the next level but need help getting there?  Spend 30 minutes on the phone getting “un stuck” with Tyler by visiting CashFlowGuys.com/asktyler

Introducing Jordan Stanley Payne, a young, energetic investor who refuses to accept being forced to live a life stuck in the rat race.  Jordan is the type of guy that will not settle for the “status quo” and when he discovers opportunity, he seizes it.   Beginning as a wholesaler, Jordan quickly realized that True Wealth was found in the buy and hold investing model.  Jordan then immersed himself in training videos that he found on youtube.  Being a self taught investor he made lots of mistakes, however he also learned from those mistakes and has built a multi million dollar portfolio before the age of 30!!   Jordan’s success comes from knowing his investor identity, and his buying criteria and then sticking to that criteria.  By focusing on the needs of both the seller and his team, he has found great success in sourcing capital and opportunities.   By surrounding himself with people who know more than him, and are more successful than him, Jordan has learned faster and achieved success much faster than his peers.     Building a team is a necessary part of any investor’s plan, however team building is also an evolving process that can be built as the need arises.  Perhaps beginning with a CPA, Lawyer, Mentor, ect to get started.  Knowing your strengths and weaknesses is critical to the team building process, begin with bringing on the team members that are good at what you are not good at.   Jordan says “Action trumps Fear” which Tyler Sheff totally agrees with.  If there is no action, there cannot be any success.   To join Jordan’s Facebook group go to CashFlowGuys.com/Jordan

We use this episode as a means to introduce one of Tyler’s “secret weapons” to the Cash Flow Guys Community by introducing Chrystian McIlwain to our audience.  “Chris” as he prefers to be called is Tyler and Jill’s nephew and a critical member of our team.  Chris started working with us about a year ago as both an intern in real estate and the production manager of the CashFlowGuys Podcast.  Without Chris’ assistance, the show would not exist.   While a young teenager, Chris spent a great deal of time in his room….we thought he was playing Xbox….we were wrong!  Instead, Chris was teaching himself all about real estate investing because at an early age he realized going to college and getting a boring job was not what he wanted.  Chris self studied for about three years before the family truly discovered Chris’ passion for entrepreneurship.   It seemed a natural fit for Chris to join the CashFlowGuys team and that is exactly what happened.  While still in high school, Chris immersed himself in several training seminars and earned his real estate license only a few weeks after graduation.  Chris is now a licensed agent working with Tyler and Jill at Coldwell Banker.   In this episode we also discuss where NOT to find the money.  Chris and I discuss common issues involved in predatory lending and gurus charging students huge sums of cash in order to gain access to the gurus network of capital.   In today’s world, “pretender lenders” are popping up everywhere, especially on Facebook and LinkedIn promising to lend amounts starting at at $1,000 and up to Millions of Dollars to unsuspecting consumers.  They then charge up front fees in order to “process the loan” and then often disappear leaving the unsuspecting borrower being ripped off.  When you run across a “lender” that requires up front fees, you should first do your due diligence to be sure they are appropriately credentialed.  If your “lender” is using a gmail or other free email service as their email address, this could be a clue of them not being who they claim to be.   To connect with Chris, he can be reached via eMail at Chris@cashflowguys.com   To Schedule a free “get started or unstuck” consultation with Tyler go to CashFlowGuys.com/AskTyler To join our secret Facebook group head on over to CashFlowGuys.com/Group

Today we hear from one America’s top real estate professionals, Rod Khleif has personally owned more than 2,000 single family homes and multiple apartment communities.  In addition to to being a rockstar investor, Rod is the founder of the Tiny Hands Foundation where he and his team offer assistance to underprivileged children.   In this episode Tyler Sheff digs deep and discusses how to achieve your goals and how to first visualize your “why” and “what”.  Regardless of the business, psychology and mindset are critical elements of achieving success.  Rod provides many tips on how to achieve maximum success in business and life.   Being a huge fan of Anthony Robbins, Rod discusses taking action on what he learns and how that has lead to his success in business.   Mr Khleif is also writing a book on investing in multi family real estate that he is offering to Cash Flow Guys Podcast listeners for FREE by texting “Rod” to 41411   During the interview, Rod discusses having a second exit strategy in regard to single family investing as well as the avoidance of short term financing to hedge against market corrections.  Rod and Tyler discuss the upcoming economic downturn and how to best prepare yourself and your business for this eventuality.   By investing in multi family properties, Rod quickly learned how being focused on multi family assets that are bought “right” provide a far safer investment strategy during economic downturns.   Rod reinforces our plan regarding buying small apartment buildings using FHA financing and occupying them for one year to capture low down payment opportunities.  Buyers can often secure FHA financing even with credit scores below the 600 point range.  Later, when market conditions improve, the investor can refinance the property into a conventional loan product to avoid PMI.  This is a strategy we have used in conjunction with our lender partner Frank Coto at Lincoln Lending for properties located in Florida. Rod is also the host of Lifetime Cashflow Through Real Estate Investing Podcast which is available via many channels including his website at: http://rodkhleif.com/