Passive Wealth Strategies for Busy Professionals
Building Legacy Wealth with Terry Moore

Building Legacy Wealth with Terry Moore

November 24, 2020

Terry Moore CCIM, is the author of Building Legacy Wealth. He has an MBA from Southern Methodist University. Terry is an experienced Real Estate Investor and Broker in the San Diego market and has received multiple awards for Brokerage from San Diego Association of Realtors. Together with his team, they have closed more than 400 San Diego apartment escrows.

 

[00:01 – 09:41] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Terry Moore
  • Terry talks about his background and how he started helping Real Estate Investors
  • The Investment dynamic in San Diego

    • High Demand, Low supply
    • Low cash flow, huge appreciation market

 

[09:42 – 27:13] Building a Legacy

  • Terry talks about building a Legacy of Wealth

  • Things to do and build a legacy other than money
    • Do the best that we can
    • Help other people
    • Take responsibility for what you do
    • Treat other people like you want to be treated
    • Encourage other influential people to have a positive impact on others
  • Terry talks about the importance of doing the right thing
  • Deciding what your legacy should look like

 

[27:13 – 34:47] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • Investing in a Deeply discounted apartment building
  • What is the worst investment you ever made?
    • Not investing during the great recession
  • What is the most important lesson that you've learned in business and investing?
    • Taking risks
  • Connect with Michael. See the links below.

 

Tweetable Quotes:

"The key thing is, we had courage when most people had fear. We took a risk, when a lot of people were afraid.” - Terry Moore

“Investing is learning by doing activity. You have to try and understand it. You want to learn where it doesn’t cost you much and when you realize it’s a bad deal, get out. But you have to get in the game if you want to win.” - Terry Moore

“Money is a great slave, Money is a terrible master. I know people who are owned by their money. Money is a terrible master, but legacy is more important.” - Terry Moore

 

Resources Mentioned:

 

Connect with Terry, send him an email at Tmoore1031@gmail.com or visit his website https://sandiegoapartmentbroker.com/ . Grab a copy of his book

 

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Active to Passive Investment via Syndication and 1031 Exchange with Michael Brady

Active to Passive Investment via Syndication and 1031 Exchange with Michael Brady

November 19, 2020

Our guest for today, Michael Brady, is Real Estate lawyer and is the Executive Vice President of Madison 1031, a national Qualified Intermediary for tax-deferred Exchanges pursuant to Internal Revenue code §1031. With over 25 years of experience representing clients in commercial and residential real estate transactions, as well as a wide variety of business transactions and commercial litigation matters, and has acted as general counsel to a title insurance company. He has also helped clients defer over $1 billion in taxes during the course of his career.

 

[00:01 – 10:20] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Michael Brady
  • Michael talks about his background and his role as a Real Estate Lawyer
  • Michael talks about the issues with the typical Syndication structure

 

[10:21 – 20:44] Syndication and 1031 Exchange

  • Michael talks about the system of a 1031 Exchange
  • The options for 1031 investors
    • Have the syndicator manage the entire project
    • 1031 investors can still be a passive investor
  • Recommendation for setting up a 1031 investment

    • Prepare and do it early
    • Shop for prospect properties to buy before selling
    • Consult your accountant

 

[20:45 – 28:10] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • Paddleboard
    • Retirement Investment
  • What is the worst investment you ever made?
    • Investing in Xybernaut
  • What is the most important lesson that you've learned in business and investing?
    • Do business with good people
  • Connect with Michael. See the links below.

 

Tweetable Quotes:

"It’s critical that somebody who’s looking to sell their property, should start shopping to buy the property either before or immediately upon listing their own property.” - Michael Brady

“Talk to your accountant before you start to sell or plan to sell and buy a property.” - Michael Brady

“I think it’s invaluable to make sure that people you do business with are good people. You wanna make sure that the people you’re doing the business with, at the end of the day, are going to do the right thing.” - Michael Brady

 

Resources Mentioned:

 

Connect with Michael on LinkedIn and send him an email at mbrady@madison1031.com 

 

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Mistakes To Avoid When Evaluating Multifamily Syndications with Josh Satin

Mistakes To Avoid When Evaluating Multifamily Syndications with Josh Satin

November 17, 2020

Today our guest, Josh Satin, is a very experienced multifamily and mobile home park investor. As the Director of Acquisitions at Gelt Inc., he has been involved in the acquisition of 3,300 units valued at nearly $530 million. He was also instrumental in helping to start Happy Homes Communities. Since HHC’s inception in 2017, Josh has been involved in the acquisitions of eight mobile home parks totaling over 1,000 spaces.

 

[00:01 – 05:01] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Josh Satin
  • Josh talks about his background and investment experience
    • Former Professional baseball player for the New York Mets
    • He started with passive investment on Real Estate in 2010
    • Worked with Gelt Inc. since 2016

 

[05:02 – 16:16] Tips on investing

  • His early years as a passive investor
  • Josh talks about the advantage of being an educated investor
  • Things to look at when investing
    • Growth assumptions
    • Exit cap
    • Budget for reserves
  • Josh talks about the role of debt in their investments

 

[16:17 – 22:07] Passive investments

  • The importance of checking the numbers and business plan as a passive investor
  • Things to look for in passive investments
    • Track record
    • Their motivation and effort
    • Network and relationships in the market

 

[22:08 – 30:51] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • His First Investment 
  • What is the worst investment you ever made?
    • Mobile Home Park in Pennsylvania
  • What is the most important lesson that you've learned in business and investing?
    • Relationships are everything
  • Connect with Josh. See the links below.

 

Tweetable Quotes:

"Overpay if you have to for quality assets in quality locations, but don’t stretch one ounce for mediocre deals in bad locations.” Josh Satin

“You can make deals look better or worse based on your exit cap.” - Josh Satin

“Every passive investor, if they can, checks the numbers. What their plan is to get that return, and how risky that plan is to get that return.” - Josh Satin

“Relationships are everything, especially in our business. Because anyone can learn how to underwrite deals. Anyone can learn how to figure out if a location is growing. But not everyone can build relationships in order to win deals and make deals happen.” - Josh Satin

 

Resources Mentioned:

 

Connect with Josh, send him an email at Josh@geltinc.com 

 

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Retiring with $240k Annual Passive Income with John Soforic, The Wealthy Gardener

Retiring with $240k Annual Passive Income with John Soforic, The Wealthy Gardener

November 12, 2020

What does it take to gain wealth and financial independence? Today, with our guest, John Soforic, we will be talking about what it takes to build a multi-hundred thousand dollar passive income.

John is the author of The Wealthy Gardener: Life Lessons on Prosperity Between Father and Son. It was a self-published work, was bought by Penguin and has been translated into 6 foreign languages. He retired at the age of 49 and is living on a pretty substantial passive income.

 

[00:01 – 05:18] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, John Soforic
  • John talks about his background
    • He was the first person in their family to go to college
    • Graduated from a Chiropractic College at the age of 24 with a 200k dollar student debt
  • At 30 years old he set a goal to build and retire with a passive income of $240k
  • John talks about his self-published work

 

[05:19 – 10:23] Setting his goal

  • The need for financial freedom
  • John talks about developing a culture of working hard for his family

 

[10:24 – 21:29] The lessons to be learned

  • John talks about his book

  • The difference between expectation and belief
  • A talk about Individuality
  • John talks about the changes he made to achieve his goal
  • Increasing his level of income but maintaining his level of expenses
    • He primarily worked as a Chiropractor
    • Went into the real estate business
    • Went into The Flipping business
  • Managing risks and finding the right balance between Caution and Courage

 

[21:30 – 31:33] Life Lessons Between Father and Son

  • His son’s reception of his lessons and work ethic
  • John shares his time working with his son to complete his book
  • The desire to share the lessons he learned with future generations
  • John talks about his inspiration for the title of his book

 

[31:34 – 41:23] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
  • What is the worst investment you ever made?
    • Buying a bass boat
  • What is the most important lesson that you've learned in business and investing?
    • Valuing time and spending his leisure time differently than other people
  • Connect with John. See the links below.

 

Tweetable Quotes:

"Having enough is not nearly enough, you need more than enough. Because more than enough allows you to withstand the setbacks of life.” - John Soforic

“If you have a money problem, you need to change something in your life.” - John Soforic

“People think that you have to get wealthy to give back to society. They don’t understand that you have to give to society in order to get wealthy.” - John Soforic

 

Resources Mentioned:

Send John an email at john@wealthygardener.com or visit his website at https://wealthygardener.com/

 

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Investing In Yourself and Building Up Passive Sources of Income with Jeff Anzalone

Investing In Yourself and Building Up Passive Sources of Income with Jeff Anzalone

November 10, 2020

There are a variety of ways that doctors and dentists can do to pay off their loans and debts, prepare for retirement, and come-up with passive streams of income. Today, with our guest, Jeff Anzalone, we are going to talk about how to minimize and get rid of these debts and enjoy your time, enjoy your life and take time off from your busy lives.

Jeff is a full-time Periodontist and passive real estate investor. He started DebtFreeDr.com that helped doctors and high-income professionals and has reached the millionaire status by the age of 39 after paying off a $300k student loan debt.

 

[00:01 – 05:38] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Jeff Anzalone
  • Jeff talks about his background and how helped people with his website

[05:38 – 19:56] Starting DebtFreeDr.com

  • Jeff talks about his inspiration to start his website

    • He wanted to have additional sources of income
  • The desire to help other professionals
  • Various ways to build up active and passive income
  • Jeff talks about the importance of investing in yourself

[19:57 – 28:39] Real Estate investments

  • The most conducive avenue for doctors and dentists to invest in real estate
  • Jeff his experience when he first started investing
  • Jeff talks about how he currently handles his investments

[28:40 – 36:37] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • Investing in mutual funds
  • What is the worst investment you ever made?
    • The Realtyshares deal
  • What is the most important lesson that you've learned in business and investing?
    • You need to know what’s going on in your investments
  • Connect with Jeff. See the links below.

 

Tweetable Quotes:

"There’s multiple ways to skin a cat. And I don’t think there’s just one way to do something.” - Jeff Anzalone

“Here’s the thing, you can wipe out a building, a practice, but because I have invested in myself, you can’t take away what’s up here.” - Jeff Anzalone

“Don’t invest in anything that you can’t explain to a fifth-grader.” - Jeff Anzalone

 

Resources Mentioned:

Send Jeff an email at jeff@debtfreedr.com or visit his website at https://www.debtfreedr.com/ 

 

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Various Ways to Passively Invest in Real Estate with Hunter Thompson

Various Ways to Passively Invest in Real Estate with Hunter Thompson

November 5, 2020

There are a variety of ways to passively invest in real estate. The different structures that people use and our guest today, Hunter Thompson, has an innovative strategy to take advantage of the real estate market.

Hunter is a full-time real estate investor and founder of Asym Capital, a private equity firm based out of Los Angeles, CA. He is the host of the Cash Flow Connections Podcast which is frequently listed in the top 200 investing Podcasts in iTunes.

 

[00:01 – 05:25] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Hunter Thompson
  • Hunter talks a bit about his background and how he got into investing in real estate

 

[05:26 – 33:31] Various ways to passively invest in real estate

  • Hunter talks about the Active approach to investing

    • The tendency and danger of overallocation
  • Hunter talks about the Passive approach to investing
    • Investing through debt
    • The joint venture
    • LP Investing in syndications
    • ATM Business
  • Hunter shares his tips on how to reach out and connect to people that are successful

 

[33:32 – 43:24] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • Investing through debt
  • What is the worst investment you ever made?
    • Purchasing non-performing notes with test funds of Family and Friends
  • What is the most important lesson that you've learned in business and investing?
    • It’s important to learn from the success of others and share your own success story
  • Connect with Hunter. See the links below.

 

Tweetable Quotes:

"The first thing that I look at, when I look at most deals, is I wanna see what the debt structure looks like. Because that’s gonna dictate to a large degree whether or not the money is going to be protected.” - Hunter Thompson

“If you're a passive investor, you're not exposed to property liability and that drastically changes the risk profile of the real estate investment and you don’t have to worry about that or credit risks.” - Hunter Thompson

 

Resources Mentioned:

You can connect with Hunter through his website https://asymcapital.com/. Grab a copy of his book at https://www.raisingcapitalforrealestate.com/rcfr.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Student Loan Debt Solutions with Ben White

Student Loan Debt Solutions with Ben White

November 3, 2020

There’s an ongoing student loan crisis that we face. Many students finish college with massive amounts of student loan debt who then spend decades trying to pay it off. Today, we will discuss how the borrowers can get out of their student loans or reduce them with interesting strategies that you might not know about from our guest, Ben White.

Ben is a neurologist based in Texas. He is also a big fan of student loan education and has written a couple of books around this topic. Ben is no stranger to the student loan system as he utilized it himself. 

 

[00:01 – 02:54] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce the guest, Ben White
  • Kyle gives a bit of background about himself
    • Neurologist based in Texas
    • A big fan of student loan education (written a couple of books about the topic)

[02:55 – 11:56] The Student Loan Crisis

  • Kyle gives us an in-depth look at the current student loan crisis

    • The current estimated amount of student loans in the US is at $1.7-Trillion
    • How student loan works
    • Getting worst overtime
    • The average student loan debt med school students have

[11:57 – 28:29] Student Loan Debt Solutions

  • Kyle talks about how borrowers can deal with their student loan debts

    • Understand that it's a loan and you need to pay it back
    • Figure out if there is a way to get your loans 'forgiven' through the PSLF Program
    • Get a job that qualifies to be 'forgiven'
  • How can we fix the system?

    • Kyle explains ways how we can improve the student loan system
    • Make schools accountable for tuition
  • The impacts of the 'new normal' of the educational system

 

[28:29 – 34:44] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • Marrying my wife.
  • What is the worst investment you ever made?
    • Buying my first house in med school.
  • What is the most important lesson that you've learned in business and investing?
    • The most important thing is to start paying attention and do your best.
  • Connect with Ben. See the links below.

 

Tweetable Quotes:

"It's never too early to take your head out of the sand with your personal finance." – Ben White

"I think once you make the choice to start paying attention, to start being proactive in your decision making, it never stops. The most important thing is to start paying attention and try to do your best." – Ben White

 

You can connect with Ben through his website https://benwhite.com/. Grab a free copy of his books at https://www.benwhite.com/studentloans/. Follow him on Twitter @benwhitemd.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Overcoming the Hurdles to Become Successful with Sterling White

Overcoming the Hurdles to Become Successful with Sterling White

October 30, 2020

Sterling White came from a very low-income background. Currently, he has over 600 doors and $10-million in capital under management. Sterling was featured on the BiggerPockets Podcast Episode #308 and contributed content to BiggerPockets since 2014, with over 200 posts on topics ranging from single-family investing and apartment investing to mindset and scaling a business online.

Today, he will teach us what he used to overcome the hurdles and become a successful real estate investor.

[00:01 – 07:33] Heavy-Lift Value-Add Multifamily

  • I talk briefly about great values that await you in this episode
  • I introduce and welcome our guest, Sterling White
  • Sterling talks about his real estate background
    • His long-term goals in real estate
  • Sterling explains the heavy-lift value-add multifamily
    • A property that needs a lot of work, renovation, etc
    • The expenses are close to 65-70% of the property.

[07:34 – 12:19] Overcoming the Hurdles to Become Successful

  • Having the mentality of someone from a low-income background.
    • Sterling talks about his story that started from humble beginnings.
  • Sterling shares tips for people trying to figure out how to rise up from a similar background he came from.

[12:20 – 15:28] Heavy-Lift Value-Add Multifamily (Continued)

  • The mechanics, costs, and other factors involved in a heavy-lift value-add
    • How to handle these kinds of deals
  • Creating your team and how to leverage other teams.

[15:29 – 21:03] Overcoming the Hurdles to Become Successful (continued)

  • Being in a situation where he had very low overhead, Sterling did everything he could possibly do to earn money legally.
    • Leveraging his situation to his advantage.
  • How to apply and leverage the "Sterling mindset" in your investments.
  • Sterling talks about his motivation in doing what he does.

[21:03 – 32:14] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • In myself. Training in sales every day. I feel like it helped me a lot in business and relationships in general.
  • What is the worst investment you've ever made?
    • One of the apartments I acquired. It was the worst in terms that I was still in the learning process with structuring the deal.
  • What is the most important lesson that you've learned in business and investing?
    • Sales, it always comes down to sales. 
    • Sterling explains why it was sales.
  • Connect with Sterling. See the links below.

 

Tweetable Quotes:

"It's always just determining what areas you are weak in and finding a solution." – Sterling White

"It just comes down to what are your goals and what are you working towards, and that can be your big motivator." – Sterling White

 

Resources Mentioned:

 

You can connect with Sterling on https://www.sterlingwhiteofficial.com/ or follow him on Instagram.

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An Ideal Alternative to the 1031 Exchange: The Deferred Sales Trust with Brett Swarts

An Ideal Alternative to the 1031 Exchange: The Deferred Sales Trust with Brett Swarts

October 28, 2020

Brett Swarts  is considered one of the most well-rounded Capital Gains Tax Deferral Experts and informative speakers on the west coast. Brett is the Founder of Capital Gains Tax Solutions and host of the capital gains tax solutions podcast. Each year, he equips hundreds of business professionals with the Deferred Sales Trust tool to help their high net worth clients solve capital gains tax deferral limitations.

Today we are talking about an ideal alternative to the 1031 exchange, the deferred sales trust. A lot of you probably don’t know what it is, but the deferred sales trust is the next big thing. It’s going to help people defer their capital gains taxes and optimize their tax strategy when selling any asset and reinvesting it in anything they want.

 

[00:01 - 06:32] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce and welcome our guest, Brett Swarts
  • Brett gives a little bit of background about himself
    • The transitions in his career
    • How he discovered deferred sales trust

[06:33 - 18:53] The Deferred Sales Trust

  • The 3 Secrets

    • Selling and deferring hundreds of thousands to millions of dollars in capital gains tax
    • How to legally break free from capital gains tax
    • Find freedom to buy and sell your business or property without having to worry about your 1031 exchange.
  • Advantages of the deferred sales trust over the 1031 exchange
  • Brett shares stories where they had to help save people from a failed 1031 exchange
  • How money works in a deferred sales trust

[18:54 - 31:37] The Uniqueness of The Deferred Sales Trust

  • Brett talks about what makes deferred sales trust unique

    • Diversification of investments
    • Empowering investors to buy when they want to buy
  • The pros and cons
  • Getting interested about the deferred sales trust? Listen to Brett’s tips on how you can get started.

[31:37 - 37:29] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than in your education?
    • A 2010 half-built retail center in Arizona.
  • What is the worst investment you ever made?

    • Jumping on the bitcoin hype train.
  • What is the most important lesson that you've learned in business and investing?
    • Learn to work harder on yourself than you do on your job.
  • Connect with Brett online. See the links below.

 

Tweetable Quotes:

“Our vision is to equip every single business professional including commercial real estate operators, brokers, 1031 exchange companies on how this deferred sales trust works so they too can help their clients create and preserve more wealth.” - Brett Swarts

“Learn to work harder on yourself than you do on your job. If you work on your job, you’ll make a living and that’s fine. But if you work harder on yourself, you’ll make a fortune and the idea is to become everything you were created to be.” - Brett Swarts

 

You can connect with Brett on the Capital Gains Tax website. For business professionals, visit experttaxsecrets.com. Follow them on Facebook, YouTube, and BiggerPockets. Listen to their podcast, Capital Gains Tax Solutions Podcast.

 

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes.

Broadway Show Investing Done Right with Matt Picheny

Broadway Show Investing Done Right with Matt Picheny

October 22, 2020

Matt Picheny is the Managing Partner at MJP Property Group. He has invested in over 5,000 apartment units and is primarily focused on acquiring and repositioning multifamily communities. Matt has over 15 years of property analysis, financing, acquisition, construction, and operations experience. He is a licensed real estate agent, a Fannie Mae & Freddie Mac approved buyer and a member of the Forbes Real Estate Council.

Today, we're talking about Matt's investments in Broadway shows. He syndicates Broadway shows and brings in passive investors to invest in such shows. He will be giving us a behind the curtains look at how it's done.

[00:01 – 04:52] Opening Segment

  • I talk briefly about great values that await you in this episode
  • I introduce and welcome our guest, Matt Picheny
  • Matt tells us his background and his journey to reach where he is now today.

[04:53 – 14:24] Broadway Show Investing Done Right

  • Matt gives us a peek at how Broadway show investing works

    • The investor's role is to fund the preparation for opening night
    • High-risk, high return

[14:25 – 22:28] Time Frame and Exit Strategy

  • The Timeframe for investing in Broadway shows
  • Forming your exit strategy
  • Leverage and Debt

[22:29 – 28:38] Learning to Invest in Broadway

  • Matt walks us through what you'll need when investing in Broadway
  • How to evaluate these investments from a passive investor's standpoint
  • The 3-Prong Approach to Evaluating Deals
    • Evaluating the creative team
    • Evaluating the management team
    • Evaluating the production itself

[28:38 – 34:18] Closing Segment

  • Quick break for our sponsors
  • What is the best investment you've ever made other than your education?
    • We were lucky we invested in Hamilton.
  • What is the worst investment you ever made?
    • If/Then, it didn't do exceptionally well.
  • What is the most important lesson that you've learned in business and investing?
    • It's all about relationships. Building relationships is the most important.
  • Connect with Matt online. See the links below.

 

Tweetable Quotes:

"If a show does really well, it can remain in theatre forever." – Matt Picheny

"It's not like real estate where at real estate you actually have this tangible asset that you sell at the end. With these shows, it's like they close and then it's over, but hopefully, you've gotten a lot more money during the whole period." – Matt Picheny

 

Connect with Matt on their website https://mjppg.com/ or email him at matt@mjppg.com.

 

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