The Investor Shed Podcast

S3E21 Mastering Financial Stability: Insurance & Real Estate Josh Heikkila- Investor Shed Podcast

🎙️ Welcome to The Investor Shed Podcast, Season 3 Episode 21 🎙️ Dive into the intricacies of financial planning in this enlightening episode with our esteemed guest, Josh Heikkila. Uncover the hidden potentials of life insurance plans and learn how they form a cornerstone of a well-rounded financial strategy. **Key Highlights:** - **[03:24]** Josh unveils the adaptable nature of life insurance plans, tailored to meet personal financial necessities. - **[41:42]** A critical look at the issue of under-insurance and practical steps to safeguard your family's financial future. - **[52:29]** Josh shares his blueprint for a robust financial system, integrating life insurance, real estate, and retirement planning. - **[55:51]** An exclusive peek into Josh's personal financial strategy, including insights into his whole life policies, IRAs, and brokerage account. - **[01:00:43]** Discussion about a complex hard money deal and the significance of sustaining financial stability in an ever-changing market. - **[01:09:00]** Josh's thoughts on judiciously managing and investing $30 million. 📘 **Recommended Read:** "The Personal Economic Model" This episode is a must-listen for anyone interested in enhancing their financial acumen, whether you're a seasoned investor or just starting out. **Timestamps:** - ... Ensure you hit like, share, and subscribe for more insightful content from The Investor Shed Podcast, your go-to source for top-tier real estate and finance expertise! --- **Stay Connected - Website: [northidahorei.com](https://www.northidahorei.com) - YouTube: [Nick Beveridge](https://www.youtube.com/nickbeveridge) - Email: [nickbeveridge17@gmail.com] #TheInvestorShedPodcast #FinancialPlanning #LifeInsurance #RealEstateInvesting #JoshHeikkila

S3 E20 Mike De Haan -- Real Estate Systems

Summary

The conversation begins with a discussion about Mike's VR headset. They then talk about VR mini golf and Mike's gaming routine. The conversation shifts to Mike's real estate losses and his experience with a business coach. They discuss the benefits of hiring a coach and implementing systems and SOPs. They also touch on the DISC assessment and personality types. The conversation concludes with a discussion about Mike's wholesale business and his partnership model, as well as his plans to expand to new markets. The conversation covers topics such as expanding to different markets, standard operating procedures, the real estate market and realtors, investing in Japan, investing in foreign countries, and opinions on Pace Morby. In this conversation, Mike DeHaan discusses his experience with investor grade loans and due-on-sale clauses. He shares a recent incident where a lender called a loan due after discovering a change in title. Mike explains his approach to dealing with loan defaults and finding alternative financing options. The conversation also delves into the ethical considerations of wholesaling and off-market real estate. Mike emphasizes the importance of transparency and ensuring that sellers are in a better position after the transaction. The episode concludes with information on how to connect with Mike DeHaan.

Takeaways

Expanding to different markets requires a collaborative team effort.
Standard operating procedures are essential for scaling a business.
The real estate market and realtors should be approached with caution and a focus on responsible financial decisions.
Investing in foreign countries requires local knowledge and understanding of cultural differences.
Opinions on Pace Morby and his teachings vary, with some expressing concerns about unethical practices. Investor grade loans face more due diligence than Fannie Freddie loans and may have stricter loan agreements.
Lenders can exercise the due-on-sale clause and call a loan due if they discover a change in title or ownership.
When faced with a loan default, it is important to explore alternative financing options and be open with lenders.
Wholesaling and off-market real estate can be ethical if there is transparency and a focus on creating win-win situations.

Chapters

00:00 Introduction and VR Headset
01:15 Discussion about VR Mini Golf
02:40 Mike's VR Gaming Routine
03:41 Mike's Real Estate Losses
08:24 Mike's Experience with a Business Coach
10:53 Benefits of Hiring a Coach
12:42 Implementing Systems and SOPs
15:26 DISC Assessment and Personality Types
20:45 Lessons from the Mastermind Retreat
28:51 Mike's Wholesale Business and Partnership Model
33:10 Expanding to New Markets
34:39 Expanding to Different Markets
37:22 Standard Operating Procedures
40:47 The Real Estate Market and Realtors
52:37 Investing in Japan
57:29 Investing in Foreign Countries
01:00:17 Opinions on Pace Morby
01:09:22 Investor Grade Loans and Due-on-Sale Clauses
01:10:27 Dealing with Loan Defaults
01:11:17 Ethics in Wholesaling and Off-Market Real Estate
01:12:31 Creating Win-Win Situations
01:13:23 Connect with Mike DeHaan

S3 E19 Kyra Bemis on Systems, Habits & True Happiness

Join us in this enlightening episode as Kyra Bemis, a seasoned real estate professional, shares her invaluable insights and experiences. Dive deep into the world of real estate with Kyra as she emphasizes the pivotal role of systems and models in carving a path to success in this dynamic industry.

Key Takeaways:

• Strategic Systems: Learn how implementing effective systems and models is the backbone of thriving in real estate.
• Routine & Discipline: Discover the power of building productive routines and habits to manage a bustling schedule.
• The Art of 'No': Kyra discusses the importance of saying no, prioritizing tasks, and controlling your schedule for peak productivity.
• Communication is Key: Uncover strategies for effective communication with your database and understand the reasons why people transition away from brokerages.
• Profit Share Insights: Delve into the realities of profit share and how it can serve as a valuable source of passive income.
• Real Estate Investment: Explore the benefits of investing in real estate for financial growth and stability.
• Financial Wisdom: Kyra shares her advice on setting clear financial goals and creating multiple income streams for lasting financial security.
• Defining Success: Hear Kyra's personal definition of success - finding true happiness in life and accomplishments.

Episode Chapters: 00:00 - Systems and Models in Real Estate 32:17 - Building Effective Routines and Habits 36:11 - The Power and Importance of Saying No 38:59 - Effective Database Communication Strategies 46:08 - Insights on Profit Share in Real Estate 50:09 - The Benefits of Real Estate Investing 54:31 - Setting and Achieving Financial Goals 01:00:43 - Kyra's Definition of True Success 01:01:50 - Essential Advice for Aspiring Real Estate Professionals

Whether you're a seasoned investor or just starting out in the real estate world, this episode with Kyra Bemis offers a treasure trove of wisdom and practical tips. Tune in to elevate your real estate journey towards greater success and fulfillment!

About Kyra Bemis: Kyra Bemis brings years of experience and a wealth of knowledge in real estate. Her focus on building efficient systems and embracing healthy routines has made her a respected voice in the industry.

Remember to like, subscribe, and share this video for more insightful content on real estate and investment strategies!

S3 E18 Real Estate Seminars: Navigating Hype, Harnessing Networking, and Strategic Investment Insights | The Investor Shed with Nick & Jeremy

The conversation explores the pros and cons of attending real estate seminars. The hosts discuss the overwhelming amount of information provided at these events and the sales tactics used to entice attendees to sign up for expensive programs. They emphasize the importance of due diligence before attending a seminar and caution against getting caught up in the hype. The hosts also highlight the value of networking and making connections with like-minded individuals. They discuss the limitations of focusing solely on creative financing and the importance of understanding the market before investing. In this conversation, Nick and Jeremy discuss the importance of choosing the right location for real estate investment. They emphasize factors such as population growth and diversified industries. They also highlight the significance of researching submarkets and population trends. The conversation then shifts to seminars and programs, with recommendations for attendees to bring a notebook, audio recorder, and to focus on networking. They stress the value of networking events and the need to be intentional about building relationships. The conversation concludes with cautions and considerations for seminars and masterminds, as well as the benefits of joining a mastermind and applying systems to overcome challenges. Takeaways Do thorough research before attending a real estate seminar to ensure it aligns with your goals and values. Be cautious of sales tactics used at seminars and carefully consider the value and cost of any programs being offered. Networking with other attendees can be a valuable aspect of attending seminars, providing opportunities for collaboration and learning. While seminars can provide valuable information, it is important to take action and apply what you learn to see results. Focus on developing good habits and a strong foundation of knowledge and experience before investing in expensive programs or mentorships. Understand the limitations of focusing solely on creative financing and consider other investment strategies and markets. When investing in real estate, it is crucial to choose the right location. Factors to consider include population growth and diversified industries. Researching submarkets and population trends can provide valuable insights into the potential success of an investment. Networking events are a valuable resource for building relationships and expanding your network in the real estate industry. Attendees of seminars and programs should focus on networking and meeting people, as the power of connections is often more valuable than the content of the event. Joining a mastermind can provide opportunities to learn from experienced investors and apply proven systems to overcome challenges. Chapters 00:00 Introduction 00:57 Discussion on Real Estate Seminars 03:22 Different Types of Events 07:05 Benefits of Attending Seminars 09:24 Sales Tactics Used in Seminars 10:22 Importance of Due Diligence 12:20 Overwhelming Information 13:42 The Value of Networking 16:02 The Financial Aspect of Seminars 18:52 The Importance of Habits 20:16 The Role of Experience in Seminars 22:41 Different Perspectives on Seminars 30:52 Limitations of Focusing on Creative Financing 37:51 The Value of Researching Markets 48:02 Choosing the Right Location for Real Estate Investment 49:22 Factors to Consider: Population Growth and Diversified Industries 50:19 Researching Submarkets and Population Trends 51:44 Seminars and Programs: Recommendations and Networking 52:42 The Importance of Networking Events 54:07 Networking Tips: Follow-Up and Building Relationships 56:53 The Power of One-on-One Connections 57:50 Cautions and Considerations for Seminars and Masterminds 58:20 The Value of Joining a Mastermind 59:20 Applying Systems and Getting Unstuck 01:00:10 Closing Remarks and Call to Action

 

 

S3E17 Rent by the Room with Sara Barb

 

In this episode, Sara Barb discusses her transition to a co-living model for her property management company. She explains the benefits of this model, including higher cash flow and stability for landlords, and lower rent and utilities for tenants. Sara also emphasizes the importance of building communities within these co-living houses and providing personal development resources for residents. Additionally, she shares her approach to teaching financial literacy to her children and her vision for generational wealth. The episode concludes with a discussion on the 75 Hard challenge and the value of doing hard things. In this conversation, Sarah Barb discusses her experience with the 75 Hard challenge and the importance of accountability and support. She shares how she initially had no intention of doing the challenge but decided to commit to it to prove to herself that she could do it. Sarah also talks about the challenges she faced during the challenge and the mindset shift she had to make to push through. She then discusses her transition from short-term rentals to co-living spaces and the benefits and challenges of managing co-living properties. Sarah emphasizes the importance of mindset and awareness in achieving success and offers advice for new investors to surround themselves with successful people and be mindful of their limiting beliefs.

Takeaways

Co-living models can provide higher cash flow for landlords and lower rent for tenants.
Building communities within co-living houses can create a sense of connection and personal development opportunities for residents.
Teaching financial literacy to children from a young age can set them up for success in managing their finances.
Generational wealth should focus on passing down knowledge and mindsets rather than just financial resources.
Challenges like the 75 Hard challenge can help individuals develop discipline and resilience. Having accountability and support can make challenging tasks easier and more enjoyable.
Committing to a challenge can help prove to yourself that you are capable of achieving your goals.
Overcoming mental barriers is a crucial part of personal growth and success.
Managing co-living spaces requires systems and clear guidelines to ensure a positive living environment.
Success is defined by personal values and can encompass various aspects of life, including relationships, health, education, enterprise, and legacy.

Chapters

00:00 Introduction and Background
01:21 Pivoting to Co-Living Model
04:33 Investment in a New Property
08:05 Cash Flow and Community Building
09:27 Considerations for Co-Living Properties
13:26 Motivation Behind Co-Living Model
20:14 Teaching Financial Literacy to Children
23:53 Generational Wealth and Legacy
31:16 Charitable Giving and Childhood Disease
39:04 75 Hard Challenge and Doing Hard Things
40:18 Accountability and Support
41:35 75 Hard Challenge
42:57 Commitment and Mindset
44:27 Overcoming Challenges
45:25 Pushing Through Mental Barriers
46:16 The Mental Game of 75 Hard
48:40 Finding Support at Home
49:02 Transitioning from Short-Term Rentals
50:52 The Cost of Operating Airbnb
53:49 Managing Co-Living Spaces
55:30 Getting Started in Co-Living
57:51 Co-Living on a National Scale
59:39 Book Recommendation: Buy Back Your Time
01:01:42 Spending $30 Million
01:02:55 Advice for New Investors
01:05:01 Defining Success
01:07:18 Where to Find Sarah Barb

S3E16: Nick & Jeremy Dive Deep into Motivation and Discipline | The Investor Shed

Join us in this insightful episode of The Investor Shed Podcast, where Nick Beveridge and Jeremy Kitchen delve into the realms of motivation and discipline in real estate investing and beyond. In this episode, we unpack: The significance of establishing routines and accountability to foster discipline. Effective strategies for setting and achieving goals, including the use of calendars and task management systems. The delicate balance of pursuing dreams while being pragmatic about opportunities. Techniques for staying driven, including visualization and micro-actions towards goals. The role of motivation and discipline as habits, and how to bounce back from setbacks. We share personal anecdotes and practical tips, emphasizing the importance of tackling challenging tasks, building momentum through small victories, and the power of an accountability partner. Our conversation also explores the concept of comfort in suboptimal positions and the transformative power of giving back. Timestamps: 00:00 - Introduction and The Role of Routine in Success 03:20 - Finding Motivation on Off Days 06:15 - Importance of Daily Routines and Calendar Management 11:05 - Goal Setting and Overcoming Procrastination 19:02 - Navigating Childhood Dreams vs. Realistic Goals 25:41 - Task Management and Productivity Tips 35:25 - The Power of Declining Opportunities 40:06 - Health and Discipline: Avoiding Snacking and Overeating 45:23 - Breaking Down Goals and Tackling the Hardest Tasks 51:31 - The Cycle of Motivation and the Importance of Persistence 56:18 - The Value of Giving and Community Building 01:03:48 - Cultivating Discipline as a Habit 01:07:45 - Engaging with Our Audience and Encouraging Feedback This episode is a must-listen for anyone looking to enhance their discipline and motivation in the world of real estate and beyond. We're excited to share our insights and hope they inspire you to take your own steps towards success. Don't forget to leave a review and share our podcast with others who might benefit from our discussions!

S3 E15 Case Study: The Moist Home

Summary

In this episode, Nick and Jeremy discuss a case study of a flip property they partnered on. They share the challenges they faced, including unexpected repairs and renovations. The property had significant damage, including failed trusses and heavy mold. Despite the setbacks, they were able to complete the project and list it on the market. The partnership and communication between Nick and Jeremy were crucial in navigating the challenges and making the necessary decisions. In this episode, Nick Beveridge discusses the process of renovating and renting out a property. He shares insights on sourcing materials, including using butcher block countertops and ordering from Amazon. Nick also talks about the challenges and decisions involved in listing the property for sale and eventually deciding to rent it out. He highlights the importance of cash flow and equity in real estate investments and explores future plans for the property.

Takeaways

Thoroughly assess the condition of a property before purchasing, especially if you are unable to conduct a walkthrough.
Consider forming partnerships to share the financial burden and expertise in real estate projects.
Be prepared for unexpected repairs and renovations, and have a contingency plan in place.
Maintain open communication and trust with your partners to navigate challenges and make informed decisions. Consider using butcher block countertops and ordering materials from Amazon for convenience and cost savings.
When renovating, focus on making improvements that are appropriate for the area and target market, rather than over-innovating.
Be prepared for challenges in the contract and listing process, such as buyers backing out due to changing interest rates.
Manufactured homes may have limitations and higher interest rates, making them less desirable for resale.

Chapters

00:00 Introduction and Case Study
03:16 Discovering the Deal
06:29 Appraisal and LLC Name
10:32 Raising Funds and Partnership
15:13 Accessing the Property
20:20 Insurance and Initial Renovations
23:06 Uncovering the Property's Condition
26:44 Living Situation and Exterior Features
32:24 Unexpected Renovations and Additional Investment
43:32 Final Stages and Listing
45:55 Materials and Renovations
47:18 Bathroom and Vanity
47:59 Yard and Mold
48:16 Contract and Listing
49:11 Contract Challenges
50:29 Manufactured Home Considerations
51:26 Decision to Rent
52:16 Rental Plans
53:14 Cash-Out Refinance
54:54 Property Improvements
55:23 Cash Flow and Equity
57:26 Future Plans
59:06 Property Inspection and Negotiation
01:02:18 Closing and Appreciation

S3E14 Nick & Jeremy: Building From the Ground Up: Starting a Service-Based Business

In this insightful episode of The Investor Shed Podcast, join your hosts Nick Beveridge and Jeremy Kitchen as they dive into the exciting world of launching a service-based business from scratch. Whether you're dreaming of starting your own venture or are in the early stages of entrepreneurship, this episode is packed with practical advice and real-world wisdom.

Nick and Jeremy share their personal journeys and the lessons they've learned along the way. From identifying a market need to developing a unique value proposition, they discuss the key steps in turning a concept into a successful business. They also delve into the challenges of initial setup, such as managing finances, building a customer base, and creating effective marketing strategies.

This episode is more than just a guide; it's a conversation between two experienced entrepreneurs who understand the highs and lows of starting a business. They discuss the importance of resilience, the power of networking, and the need for continuous learning. Whether you're a budding entrepreneur or an established business owner looking for fresh perspectives, this episode offers valuable insights into building a service-based business from the ground up.

Tune in to get inspired, informed, and ready to take your business idea to the next level!

S3E13 Mastering Finances: Tax Insights with Tom Robinson

Welcome to a special episode of The Investor Shed Podcast! In this first installment of a two-part series, we're excited to host Tom Robinson, the dynamic owner of Robinson Financial Services. With a passion that shines through in his work, Tom brings over two decades of experience in tax and financial strategies across all 50 states.

In this episode, Tom shares his insights into individual, small business, partnership, and corporate taxes. His expertise is not just in numbers but in forging lasting relationships with his clients, providing them the experience they truly deserve. But Tom's life isn't all about taxes. When he's not deep in financial matters, he's an adventurous family man. He enjoys road trips across the U.S., camping, hiking, and catching some M’s games with his wife and four children. His personal stories and professional advice blend to offer a unique perspective on managing finances while cherishing life's moments.

Stay tuned for the riveting conversation, and don't forget to catch the second part of this series where we delve deeper into the world of financial strategies with Tom. For those who love a blend of professional expertise and personal anecdotes, this episode is a must-listen!

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S3E12 Nick & Jeremy on the Market

In this insightful episode of The Investor Shed Podcast, hosts Nick Beveridge and Jeremy Kitchen tackle the complex climate of today's real estate market. With interest rates climbing and property prices soaring, investors face a challenging landscape unlike any in recent history. But where there's challenge, there's opportunity — if you know where to look.

Nick and Jeremy break down the strategies and mindset necessary to thrive as an investor in these turbulent times. They dissect the current economic indicators, the impact of rising interest rates, and how to approach investment with a lens of caution paired with calculated risk. Listen as they share their firsthand experiences and the nuanced approaches they've adopted to ensure continued success.

The conversation doesn't shy away from the tough questions.

- How can new investors enter the market under these conditions?

- What can seasoned investors do to safeguard their portfolios?

- And how can you leverage high prices to your advantage?

This episode is rich with actionable advice, including tips on creative financing, the importance of networking to uncover off-market deals, and the wisdom of sometimes bucking conventional trends to find hidden gems.

Join us as we empower you with the knowledge and confidence to make informed investment decisions, even when the economic waters are choppy. Don't let high-interest rates and high prices intimidate you — with the right mindset and tools, you can navigate this market and come out on top.

Remember to hit 'subscribe' to stay updated with The Investor Shed Podcast, your audio toolkit for real estate investing success in any market condition.

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