Liberty, Free Markets, Gold, Agriculture and More from Freedom Fest

 

In this week’s episode, we lined up six fascinating thought leaders at the seventh annual Freedom Fest – including a candidate for President of the United States!

Everyone at Freedom Fest has one thing in common. We’re all in pursuit of whatever “liberty” means to us, whether that’s private property or private thoughts.

In this edition of The Real Estate Guys™ radio show you’ll hear from:

  • Your freedom-loving host, Robert Helms
  • His free-spirited co-host, Russell Gray
  • Economist and author, Peter Schiff
  • Investment expert, Adrian Day
  • Fund manager and bestselling author, Marin Katusa
  • LatAm Prime Farmland Investments manager, Louie O’Conner
  • Editor-in-Chief of Forbes business magazine, Steve Forbes
  • Libertarian U.S. Presidential Candidate, Gary Johnson

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We’re pretty agnostic when it comes to politics. Our guests at Freedom Fest shared their perspectives – you make your own decisions.

Below we’ve captured a brief synopsis of what they each shared on the show. Listen in for the whole story!

 

Peter SchiffEconomist, financial broker/dealer, author, and host of the Peter Schiff Show Podcast

Schiff shared insights into the dollar, gold, and stocks. He gives a BIG tip for real estate investors.

“The dollar has gone down consistently over time,” Schiff said. “The next decade we can see an even bigger loss of the dollar than the prior century.

Schiff points out that gold stocks have shot up in the last six months. “The environment for gold has never been this good,” he said, “people should not be upset they missed it – this party is just getting started.”

Schiff shares that the real estate market “is being artificially propped up,” with home ownership rates now at a 50-year low.

Here’s where the HOT speculative money is involved in real estate money.

When current investors decide they want to get out because they bit off more than they could chew, they will likely drop their properties quickly.

That’s where YOU can get great buys.

 

Adrian Day – Chairman and CEO of Adrian Day Asset Management, a registered Investment Advisory firm

When you want to know what’s new with gold, Adrian Day is one of the world’s experts.

“Now the gold’s starting to move,” said Day. “We’re seeing people jump on board. There’s a lot of money on the sidelines.”

Gold feeds on uncertainty, since its value is generally the inverse of the dollar. That makes NOW a good time to be invested in it.

“Everywhere you look, the macro fundamentals are very bullish for gold,” said Day.

This is due to several factors. One, interest rates are staying low. Two, there’s immense uncertainty in international affairs, especially post-Brexit.

 

Marin Katusa – Fund Manager, Author of New York Times Bestseller “The Colder War,” Director of Copper Mountain Mining Corp.

Once a high school math teacher, Marin Katusa began into investing in metals at age 23. First it was tungsten, then uranium.

Pretty quickly he started writing larger checks, and now is a major investor in Canada’s largest copper mine.

With his experience traveling to over 100 countries, Katusa learned the importance of investing in “the right people, at right time, and the best assets.”

What do you do in a time like this, when there are negative interest rates?

“There’s a lot of confusion and uncertainty,” Katusa said, “The Brexit really woke people up. People don’t know where to put their money for safety.”

He recommends being careful where you put your physical gold.

Katusa also advises AGAINST investing in coal.

“Coal not only has the environmental aspects working against it … but China started changing the rules on coal,” said Katusa. “I have zero coal investments.”

 

Louie O’Conner – General Manager, LatAm Prime Farmland Investments

O’Conner shared a unique, new way to invest in agriculture.

Through LatAm Prime Farmland Investments, you can make individual investments in a Colombian aloe vera farm.

Aloe has been known for medicinal properties, and it’s also becoming a popular flavor in drinks. For example, recently, Coca Cola invested in an equity share in a Los Angeles-based aloe company.

“We call it ‘farm-in-a-box. It’s hands-off. Turn-key. The investment includes management until the first harvest,” said O’Conner.

The aloe vera crop in Colombia is run by an established, well-educated family.

Entry level investment is $38,000 for one hector, or 2.47 acres of land. Investors pay annually, but the aloe is harvested three or four times a year.

We share more details on how to invest in this unique opportunity in our show.

 

Steve Forbes – Editor-in-Chief of Forbes business magazine

Steve Forbes, a publishing executive who was twice a candidate for the nomination of the Republican Party for President, has great passion for America.

His new book, “Reviving America,” advocates three reforms to improve the United States:

  1. Patient control of healthcare. He suggests more transparency to arm patients making care decisions, such as infection rates at hospitals.
  2. Tax code. He says the U.S. needs to remove the complexities, and simplify taxes.
  3. Stability of the dollar. He argues money should have a fixed value, as it did for 180 years.

Forbes’ news platform has grown substantially. “Our paid circulation is the highest it’s ever been,” said Forbes. “We’ve got 60 million unique visitors a month on our website, and over 1,000 contracted contributors … we’re producing a magazine every day.

 

Gary Johnson – Libertarian Candidate for U.S. President, Former Governor of New Mexico

We asked U.S. Presidential Candidate, Gary Johnson: What does America need?

“Most people support everyone making their own choices in their own lives,” said Johnson. “Given the polarity of the two major candidates, the opportunity is open.”

Johnson argues a need for less government, since big government costs money and takes away individual liberty.

“Count on me to sign any legislation that simplifies tax code,” Johnson said. “Democrats can’t balance a checkbook. Republicans force an agenda on other people.”

Whatever your political leaning, we at The Real Estate Guys™ encourage you to take a step back and look at the big picture.

As an investor … real estate or otherwise … it’s critical to stay informed of the forces and trends looming on the horizon which can and will affect your wealth.

So join us at the longest-running investment conference in the U.S. and take the reins on your future.


More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Ask The Guys – Market Selection, Self-Directed IRAs and the Optimum Use of Leverage

 

Businessmanholdingbuildings_615x300

Have a burning real estate question? Shoot it our way.

Every couple of months we do an “Ask The Guys” show. In this week’s episode, we shared several real-life questions from our listeners and provided our ideas on how we would approach their situation. (Note: We do not give advice. We provide ideas and information. We recommend getting professional counsel.)

Below are summaries of four of the questions we covered this week ranging from market selection to self-directed IRAs to optimum use of leverage.

 

 


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Question: Nicole from Pennsylvania wrote, “My husband and I have saved up $30,000 cash to purchase an investment property. We’re prepared for a 20% down payment and are interested in the condo rental market in Florida. What do you know about that market?”

We like to say, “Live where you want to live, invest where the numbers make sense.”

First, visit with your mortgage professional and see what you qualify for. When you know what you can afford, it’s easier to tackle where to invest.

As a background on Florida, it’s been a great job creation market. A lot of baby boomers have moved there, as it’s known for being a popular state to retire. We are fond of the central Florida market. It might be a bit pricey for what you’ve saved at this point, since you’ll want to have a contingency cache.

As part of your budget, you’ll need to allocate resources to travel and your team. Don’t be skimpy on picking the right person. In fact, if you’re buying out of state, it’s often wise to let a local property management company help you find a property.

One caveat: When you’re looking at condos, consider the condition of the HOA. That’s something you’ll want to make sure you understand before making a purchase.

 

Question: Ryan in Georgetown, Massachusetts, age 23, is living at home with his parents and considering buying a home rather than renting. He asks, “What’s the ideal percentage to put down? Who should be on my team?”

To answer both questions, you need a great mortgage professional on your team. There might be mortgage programs available for first-time home buyers. To make sure you take advantage of them, your mortgage professional will be your best friend.

He or she will also pull up your credit score, the starting point to see what kind of credit you qualify to receive.

We recommend planning your credit approach to property ownership a year in advance or more. If you don’t want to wait, you might need a co-signer.

If your income is low enough, you may want to owner-occupy your first property. Live in it for a little while, then turn it into a rental property. If you can force some equity, making valuable updates to the property, you can use that on your next investment property.

We don’t recommend a condo. A single-family home is a good bet, as far as liquidity.

When you are young and willing to compromise on your lifestyle, feel free to be creative. For example, you can go bigger than you may be comfortable on your own, then rent rooms out to your friends.

If you’re interested in learning how to invest using other people’s money, we will share in-depth about how to do that in our upcoming Secrets of Syndication Success event.

Question: David in Boise, Idaho, asked: “Are there limits, as a percentage, to invest my self-directed IRA? Can I invest it into one property?”

We definitely recommend you talk to a tax advisor. If your IRA is self-directed, then yes, you are legally allowed to invest as you please.

While you can, the bigger question is should you invest it all into one real estate project?

Generally speaking, it’s not a good idea to put all your eggs into one basket. It may be prudent to diversify.

We don’t have all the details on David’s portfolio, but the general principle is it’s never good to be greedy. Sometimes you swing hard and get the Grand Slam, and sometimes you strike out. If you’re not prepared to strike out, it might not be the best route.

Question: Kevin in Bellingham, Washington, asked: “What do you think about paying for online real estate courses? If that’s not advisable, is studying for a realtor’s license a good idea?”

We are big proponents of paying for education. But make sure it’s a quality education with a reputable teacher. You should always know somebody’s agenda.

For example, our agenda is to teach you the market. At our events, we’re not looking to sell you property. We’re looking to teach you the market.

Once I spent $2,500 on a one-day course. I thought of it as an investment and have used the knowledge I gained that day to make a far greater return.

Don’t hold back on investing in your future. When you can gain actionable knowledge, expect that you will get a return. It’s up to you to put knowledge to practice.

As for a realtor’s license, most of the time when you’re getting a professional license, you are being trained on how to represent someone else. You’ll learn the legalities and structure of how to help. That’s good information to know, but it might not be necessary, depending on what you want to accomplish.

Spend time around other investors. Rely on your technical advisors. If you need a specific skill beyond that, invest in your education and then use that knowledge until it pays you back.


 

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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

ENCORE: Inspecting Property Before You Invest

Builder And Inspector Looking At New Property

Builder And Inspector Looking At New Property

Nobody wants to get stuck with a problem property. You know what I mean … buying a house that turns out to be uninhabitable or a commercial building that ends up exploding your rehab budget. How do you avoid these kinds of mistakes?

While there is no guarantee to preventing all surprises, when you’re in-the-know about property inspections and do them right, it’s much less likely you’ll have to pay a costly price later.

Get your inspections. Get them done right. We share how, why, and when you need inspections in our latest episode of The Real Estate Guys™ radio show, pulled out from the archives with your hosts:

  • Your inspect-it host, Robert Helms
  • His no-wreck-it co-host, Russell Gray

 


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Lead, asbestos, mold. Discover these nightmares in your new property and you’ll wish you’d done your due diligence.

Want to know how to avoid buying a “land mine” property? Due to popular demand, we pulled out a favorite from the archives (and added a new trivia question) about property inspections – when, why, and how to get them.

It’s not the sexy side of the business, but inspections are absolutely critical so you know what you’re buying.

 

Why bother getting an inspection?

I can’t emphasize this enough: inspections are a critically important step in your due diligence.

If you’re looking to have any people use the property, especially for residential purposes, you’re financially responsible to maintain the property at a certain level of habitability – that’s your responsibility under the law.

Again, if you’re buying to rent out to tenants, you better know what condition it is in.

Robert shares an example of a dilapidated house he bought without a property inspection. Why would he do this?

He was planning to tear it down and build a new development in the area. He didn’t care if the structure wasn’t sound, since he was only looking to secure the land it was on. That’s one scenario that makes sense to skip inspection.

 

Get a third-party property inspection

Depending on what you’re doing with the property dictates the type of inspection you need. Your first inspection is a personal inspection – you looking around yourself.

Then, your first line of defense is a third-party inspection.

Schedule a time, and show up yourself with the inspector. We recommend this because you can be taking notes and asking questions on the spot, rather than reading a report later that might not make sense.

Being there with the inspector gives you a gut-level understanding, and you can ask things like, “Are you really concerned about this?” or “What’s the age-life of this house?”

Many inspectors will point to other trades. For example, they may recommend you get a roof inspection. (We think of this like going to a general practitioner doctor who sends you to an ear, nose, and throat specialist.)

Keep all of your inspections and records of everything you did to make improvements. Then when you are getting ready to sell, you have validation of all the value you’ve added.

 

A note about “Subject to Inspection”

Sometimes, especially for larger properties with multiple tenants, you may have a “Subject to Inspection” clause.

This means you get an opportunity to inspect when you’re in contract and you have earnest money.

Why?

If you’re buying multiple units, the owner doesn’t want to disrupt the tenants just because you’re wanting to take a look.

For these kinds of deals, you want to get through the discovery process quickly. Cover the things that do matter. If it’s a competitive market, you don’t want to miss the deal.

If you’re looking at a big-deal property that will need some work, we recommend you bring your own general contractor or project manager. Then they can give you their bid and you’ll be better prepared to understand the numbers – especially if you have a tight rehab budget.

Aim to be more prepared than your competition (other bidders) and you’ll be better off to make smart decisions.

 

Lesson learned from a real estate broker

We’ve learned over the years that you have to pick your battles. One piece of advice: Don’t ever go back to the seller and attempt to negotiate something if you’re willing to walk away if they say no.

For example, we’ve seen buyers who would say “We’ve got to get the seller to cover that,” for something that cost $100. Sometimes it’s just not worth asking!

We recommend you always have an agent involved. They see a lot of properties and are a huge value add. Great agents will always have the inspections up front.

You want a great agent. You want to pay them a lot of money. Don’t go cheap on this.

Our friend, “Rich Dad Poor Dad” author, Robert Kiyosaki makes sure his agents get paid full commission, and usually more. He knows you get what you pay for.

You want to hire experienced agents in the niche you’re buying. Don’t be penny-wise and pound-foolish for the asset you will be responsible for.

 

What types of property inspections are there?

There are lots of inspection types, including the five below. Again, this is all dependent on the type of property you’re looking at.

There’s the physical inspection, meaning walking the grounds, with eyes on the property.

Then there’s an outside inspection – research done on the area around the property. For example, is the property in a place where it may flood?

Environmental inspections – involve maps reading the surrounding property. Robert needed this for a Las Vegas property located a quarter mile from an abandoned gas station. The least expensive is a Phase 1, and you may need to do a Phase 2, depending on the feedback.

For a seismic inspection – recommended in places with lots of earthquakes – you want to know if you’re in a seismic zone.

If you’re buying property for agricultural purposes, you can have an agricultural inspection, where third-party inspectors come out to do soil inspection to check on the type of nutrients in the soil.

Proper inspections are a BIG part of proper due diligence…and even more so when you’re making investments with other people’s money.


 

More From The Real Estate Guys™…

 

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Keeping Your Thumb on the Pulse of the Real Estate Market

Real Estate Market Blue Price Tags Above Properties. House Prices. 3D Abstract Illustration.

Before sharing highlights of this week’s episode, let me say we had a blast interacting with you folks in person at our Dallas field trip event.

It’s always fun for us to hear about the deals you’re doing and shake your hand. Thanks to those who attended and the great vendors who treated us well. We’ll be back!

As part of our discussion with locals in the Dallas area, we were reminded of the importance of paying attention to the market – especially when you buy property away from where you live. This week we dish details about how to keep your thumb on the pulse of the market.

 


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Gradual Market Change Happens – Pay Attention

If you’re old enough to have gone to a high school reunion (especially one with a couple of digits), you’ll understand this.

Think back to your last reunion. Remember seeing your friends from high school and thinking, “Oh, they look so much older and so different”?

Guess what? They are looking at you, thinking the same thing.

The principle here is that it’s tricky to observe slow changes. Since we see ourselves in the mirror every day, it’s hard for us to notice differences that occur over time.

The same is true for the real estate market.

You owe it to yourself to make sure you’re watching and paying attention.

When you’re looking from afar at a market via screen, in the comfort of your pajamas at home, you look at statistics and reports on the news.

Keep in mind, mainstream media is generally slanted from the viewpoint of homeowners. One simple example: “Bad news” for tenants that rent rates are increasing, can be “great news” for you as a landlord.

The market could shift and you won’t recognize the change unless something wakes you up. Often, it’s a problem.

Go Beyond Data: Make Sure You “Kick the Dirt”

Rather than wait for a red flag to arise, make sure you “kick the dirt” as we like to say, or visit your market in person.

There’s a vibrancy you can feel when you are in a place. A vibe that gives you a gut-feeling about the people, the context of the surrounding area, and clues to the direction the market is going.

You will never get it on the Internet, although that’s a good place to start. Feeling the market is as much a part of your decisions as doing the math.

This isn’t some hokey “feelings” stuff – think about the biggest partnership decision you make – marriage. While you can have some data on your romantic interest: the types of ideals they have, the types of activities they enjoy, etc., ultimately you have to feel something special about them to make the commitment.

Let’s apply this to real estate and being an investor.

Say you have a fancy chart representing the demographic in an area. That’s nice, but you can’t feel it. You have to see it.

You go into the local Starbucks, the Costco. You see the people, the way they interact, the types of cars they drive.

Another example: Michael Becker, one of our Dallas real estate friends, shared this great six-page case study. It had all the data – measurements, floor plans, cap rates, etc.

Yet, we only had a small snapshot with his fined-tuned PDF.

When we walked through it, met his tenants, saw the cars in the parking lot, and stood outside the building, THAT’S when we really got it!

Remember, You Are in the PEOPLE Business

When you’re visiting the area, every person you come into contact with can be a resource.

From the barista serving you coffee to the Uber driver taking you to your hotel, ask questions.

I like to start broad: “What’s going on in the real estate market?” You can add follow-ups, things like, “I heard about this legislation – what do you think about it?”

When you talk to people who live there, you’ll get honest answers.

Also, pay attention to the job market in the area, as that affects the people who affect your bottom line.

If a big employer moves out and takes a chunk of their workers, it will trickle into the tertiary services – the laundry services, the grocery stores, etc.

Without a main industry, your tenants – and your investment – may feel an impact.

At the end of the day, you’re not even interested in the property. You’re interested in the TENANT. The property is just the price of admission.

5 Off-Site Sources for Local Market Information

We know you have a life. Checking in on the real estate market doesn’t have to take a lot of time. But it’s better to dedicate some time regularly than regretting it later. Here are five ways we recommend you keep the pulse:

  1. Local Chamber of Commerce. Their job is to sell the market, and they often put together annual publications sharing latest updates.
  2. Google Alerts. I’ll often do specific alerts for things like “economy+Dallas” or “properties+Dallas” so I see the news stories about those topics. You can set up as many as you want.
  3. Trade Journals. Get subscriptions to the trade journals covering your market. This gives you the high-level view of what’s happening.
  4. Your local team. When you’ve got a property manager and other team members set up in the area, call them regularly to see if there are any big indicators of change.
  5. Price checks. Using any real estate website, plug in your product type (say, 3-bedroom, 2-bath) and compare over time. For example, in Dallas we saw a house that was $125,000 and rented for $1,150. This year, the same house is worth $145,000 and rents for $1,345. If the rent had stayed the same, it would mean investors were chasing yield. You want to understand WHY the price went up. 

Using both an in-person and online approach, you’ll know when it’s time to double down on buying properties or head for the exits.

If you haven’t attended one of our fabulous field trip events, where we experience the local market and bring together like-minded investors, we’d love to meet you.

In the future, we’ll be meeting up in Atlanta and Memphis – come join us! 


More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Reality check: What does it take to develop real estate?

imageDevelop Yourself to be a Real Estate Developer

Ever thought about development or want to learn how to pick a great developer? In our latest episode we spoke with internationally acclaimed real estate developer, Beth Clifford. She gives insight into the attributes needed to successfully develop real estate.

But first, a bit of background on forcing equity.

For many recent years you could buy properties at “below replacement cost.” The basic idea of “buy low, sell high” drew a lot of interest, and many people jumped on the flipping train. Now there are not many properties like that. So that leaves us with another opportunity: real estate development.

Development is the same thing – it’s just a bigger project.

You can take an asset of land and add to it capital (via labor, building materials, equipment, etc.) and increase market value. This is what we at The Real Estate Guys call “forcing equity.”

To force equity, you don’t have to be a general contractor, developer or real estate agent. You have to be an organizer. Be able to pencil it out, get the right team together, and have a plan that makes sense.
 


 

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Bring the Skills You Already Have

Talented Beth Clifford, who’s led more than $3 billion in real estate development projects. She started out in IT and switched careers in her mid-thirties. How did she pull that off?

“I knew how to create a process and get the right people into the right chairs,” said Beth. “It’s all about the right people, right place, right time, and right resources.”

She used the same skill set she’d honed in her previous field – a sharpened ability to execute with a team – and learned the real estate vernacular and business process.

“If you understand at the highest level the business problem you need to solve, you break it into the pieces,” said Beth. “Break those pieces down.”

Say you have a piece of land. You know you need to build a building, coordinate utilities, etc. Talk to professionals and chunk it into individual pieces.

We see it like being an executive producer of a movie. You don’t need to know all the details. All of those key people with expertise can help – you be the strategic thinker and visionary to pull off a project.

 

Know Your Audience – Remove Your Risk

Whatever you’re going to produce, it has to be something people are willing to pay for.

We discussed this with Beth – your definition of “Minimum Viable Product” or MVP. Define it, and test the proof of concept. For example, can you attract a buyer with renderings, before the physical product is complete? Seek for validation from your potential buyer early on.

To lessen risk for the developer, Beth advises shortening time frames and maximize value. You want very little time (she recommends hours!) between getting your product finished and it being used.

In her firm, the team looks at what’s working and not working in a market, and then considers what could be different. That’s where they want to fit.

For example, Beth shares about her project redeveloping historic multi-million dollar homes, market class A, in the D.C. area.

They researched.

They clearly understood their buyer: working CEO with a stay-at-home spouse, generally a highly social person. These were formal, gracious people. Much of the existing products in that space were big-box homes, “blow up with air” that offered no greater utility. Beth’s team created a different class, with private entertainment quarters. Those turned out to be the winning buildings.

They could sell them at a premium and turn them in less than a month.

Want to learn more about how you can know your market from Beth? She’ll share more success stories and useful tips in person at our Summit at Sea.

 

Never Race to the Bottom

One more thing Beth advises … watch out for the trap of becoming the “lost-cost option.”

Rather, she says, “I’m never involved where you’re racing to the bottom. The big production guys can’t be beat. They will always be able to come in under your cost.”

Instead, look where the current players are. What are they doing that works? What can be done better? Beth takes the mid-level market and increases the price of her product, with a clear idea of what the buyer is looking for.

 

More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Creating Wealth for Generations

 

Creating Wealth for Generations is more than smart estate planning. The real key to generational wealth is raising capitalists who can build wealth and make smart investments.

It’s tragic when one generation leaves a fortune to the next and they squander it. Or some unforeseen event wipes out a family’s business or portfolio…and the heirs have no idea how to rebuild.

It’s one thing to build a fortune and another to raise a fortune builder.

In this episode we talk about building generational wealth by raising capitalists.

In the studio and behind the microphones for this father and son edition of The Real Estate Guys™ radio show:

  • Your son-of-a-Bob host, Robert Helms
  • His Sean daddy co-host, Russell Gray
  • The Godfather of Real Estate, Bob Helms
  • Co-host in training and budding Seantrepreneur, Sean Gray

 

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Leave More Than Money…Pass on the Skills for Creating Wealth

 

We’ve all seen examples of someone rising from the dust to create enormous wealth. It’s a heroic feat. Tragically, sometimes when wealth is passed on, the next generation squanders it through greed, negligence or incompetence.

So we up the ante on the old adage, “Don’t give a man to fish, teach him to fish.”

Rather, we say, “It doesn’t stop with the second guy in the boat.” It’s a much bigger picture. The influence of one generation can impact hundreds, thousands of posterity.

Consider the wealthy, successful, brilliant people who founded the United States of America. They chose to stand up to the greatest armed forces in the world to create an environment of opportunity and prosperity for their families and the generations that would follow them.

Right now, at this time in history, it’s more important than ever to teach up-and-coming generations how to create prosperity through business and investing.

Want to do more just donate your wealth to you children? More than preserving money and protecting money, prepare your heirs to think and live like entrepreneurs.

In other words, show your children how to CREATE wealth.

This is a topic near and dear to our hearts.  We’re at that season in life where you start thinking beyond our own lifetime.  What’s our legacy going to be?

Probably like you, we care about our family’s future…even more than our own.   In this episode, “Creating Wealth for Generations” we bring in representatives and get perspectives from three generations to discuss ways to ensure the wealth-building mindset is passed on.

 

Seasoned Wisdom – Tips from the Godfather of Real Estate…

 

Robert’s dad, Bob Helms, our powerful mentor and the man we affectionately refer to as the “Godfather of Real Estate,” has been a real estate investor for six decades. Even in his 80’s, he’s still got contagious enthusiasm for investing.

“I’m still very excited about it. Being involved gives me access to people who are doing it today,” said Bob. “The reason I’m doing as well as I’m doing at my age is I’m involved.”

For those in your 60’s, 70’s, 80’s, looking back at your time as a parent and grandparent, Bob recommends learning lessons from the past…but not dwelling on them.  Move on from there.  Bob made his own mistakes, and advises failing fast and moving on sooner.

As for Bob’s parenting advice: You can’t push your kids where you want them to go. You can’t force them along.

Instead, create environments which let kids experience possibilities. As hard as it can be sometimes, don’t give them all the answers. Let them learn at their own pace.

Introduce them to people doing what they want to do. Get them in places where they’ll be exposed to ideas which excite them. This is how you process life.

 

To Find Great Answers Ask Great Questions

 

Like most kids fresh out of college, Russ’ son, Sean Gray, felt unsure about his future. Yet, with a little guidance and his own go-getter ambition, at 24, Sean is now an active entrepreneur and investor.

When he was “22 without a clue,” and his shiny new college degree in hand, Sean was tempted to ask the same question as his fellow grads… “What can I do to make money?”  It’s what nearly every student entering college is preparing for and the primary thing they focus on when they finally finish school.

And it SEEMS like a a good question.  After all, isn’t the whole point of working to make money?

Maybe.  But maybe not…

The “What can I do to make money?” question makes money the end goal…with the requirement to do something to get it.

With a little guidance from his mentors, Sean re-framed the question.

Instead, Sean asked himself, “What can I build that will afford me the lifestyle I want to have?”  In other words, don’t live to get paid…get paid to live.

As Sean had seen from his mentors, this mindset requires more work in the beginning.  But it yields a very different…and arguably better…answer.

So Sean went after a lifestyle and focuses on building businesses and investments that fit.

Now in his mid-twenties, he says he feels retired because he does what he wants, when he wants…and gets paid to live.  He has so much freedom because he asked a better question and went to work on finding a better answer.

Sean’s living the advice of Thoreau, who said, “Go confidently in the direction of your dreams! Life the life you’ve imagined.”

No one else can determine what your dream life is or what your path should be – we each have to create that for ourselves.

 

Tips for Millennials from a Millennial…

 

For our younger readers and listeners, Sean offers three tips he’s using to get a Real World Masters

1. Change the way you think. Rather than sticking to the comfortable route, like the rest of the products of the school system, educate yourself about money and how to build it.

2. Get a mentor. Find whoever’s best at what you want to do. Learn from them.

3. Change the people you’re around. Spend time with people who have similar goals and aspirations…people who encourage and inspire you to push yourself towards your goals.

 

Prepare Your Heirs… So They Won’t Have to Repair Errors

During our last Summit at Sea, we heard from internationally recognized estate planning attorney, Jeffrey Verdon, who’s helped affluent families and business owners solve comprehensive estate planning problems for more than 30 years.

He saw up close that when wealthy individuals passed on their wealth, the next generation would far too frequently squander it.  He thought it was his job to prepare the heirs, but realized he need to solve a bigger problem…repair the errors of entitlement.

As the authors of “The Millionaire Next Door,” put it, avoid providing children with “economic outpatient care.”

Instead, if you want the next generation to think like an owner, let them own it!  Even more important, let them BUILD it.  Whatever “it” is for them.  Sometimes…often…their passion, purpose, mission, vision and values will be different than yours.

That’s okay.  It isn’t a business or portfolio your building.  It’s an entrepreneur and investor.  So WHAT you build is far less important, then WHO you build.

The key is to put your kids in environments where they can discover their potential and opportunities…and then go to work on developing their potential into abilities, achievements and assets.

Your role is to be their mentor…or one of them…and then help them find others as needed.

Where to find these mentors? We’re asked this a lot.

One option is to create your own group.  If you happen to run around with high achievers, it might be a good idea to look for opportunities to get everyone together.  Kind of a multi-generational mastermind group.

You can also attend topic live events where the right people are already all coming together.  You can attend lectures, workshops, networking events, etc.   We’re huge advocates for live events…both ours and others’…because they provide deeper focus, getting your away from your daily distractions, so you bump into a great idea or relationship.

For a young person…and really for anyone…one of the BEST places to start is our annual goal setting retreat.  After all, if it’s about building a lifestyle that pays you to live it, the first thing you need to do is figure our what you really, REALLY want.

It sounds easy.  But so many people have been on a pre-scripted track for so long, they’ve lost touch with many of their hopes and dreams.  But it’s never too late.

So listen into this inspirational and practical episode and consider how you might creating wealth and wealth creators…so you can leave both an big estate and a powerful legacy when it’s your time to move on to the next thing.

 

More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Ask The Guys – Markets, Mentors and Kissing Frogs

In the Ask The Guys episodes The Real Estate Guys answer listeners questions about how to make money investing in real estate

 

In another intriguing rendition of Ask The Guys,  we dig deep into the email grab bag and pull out another great batch of listener questions.

Behind the mics but ahead of the times for this Ask The Guys edition of The Real Estate Guys™ radio show:

  • Your Answer Man host, Robert Helms
  • His questionable co-host, Russell Gray

 

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How to Invest in Out of Area Real Estate

 

This questions comes up ALL the time….especially from people living in high cost, low rent areas like California.

We always say, “Live where you want to live, but invest where the numbers make sense.”

Easy to say.  But how?

The answer isn’t complicated, but it does take some work.

First, get in touch with your inner investor.  That is, decide what you want your real estate investing to do for you…and what you’re willing to do to get it.

Sometimes travel’s involved.  You’ll definitely need a team.

Next, pick a market that is likely to provide the kind of real estate opportunities you’re looking for.

Some areas are tight supply relative to high demand.  That means they’re expensive and likely to increase.  But they probably won’t cash flow.

Other markets provide solid cash flows and abundance of working class jobs.  But don’t hold your breath for huge equity gains…unless you force it through adding value.

Once you have a market, it’s CRITICAL to build a TEAM.  And the most important, yet most unappreciated and overlooked team member is the lowly property manager.  This is the MOST important person on your team.

After all, your property manager is the primary person responsible for managing income and expenses.  But your property manager can also help you identify prospective properties to purchase.  It’s something we put a big emphasis on in all our market field trips.

Sadly, most newbie investors get excited about the property and pro-forma financials…and then figure out the market and management later.  BIG mistake…and one you should avoid.

 

What’s the Best Investment for a Sixty-Something Passive Investor?

 

That’s like asking what’s the best medicine.  It really depends on what’s ailing you!

With that said, we think the first and best initial investment for ANY investor is in education.

As Ben Franklin said, “An investment in knowledge pays the best interest.”

But as much as love books, podcasts, webinars, seminars, summits and field trips…sometimes a great way to learn is simply to talk with some experienced investors.  Especially those who don’t have anything to sell you.

Generally speaking, “best” is really a matter of suitability.  The goal is to pick an investment vehicle and strategy which is most likely to produce a desired outcome with minimal risk.

With that said, ALL investing decisions have risk….including a decision not to invest…or a default decision not to invest by not deciding anything at all.  In other words, inaction is an action by default.

So when you know you need to do something, the trick is to think about what you’re really aiming at.

In financial planning, it usually comes down to the following categories:

  • Preservation of Purchasing Power (some call it Preservation of Principal, but we think that’s a misnomer.  Because if you’re sitting in a currency which fails, or a bond or note which pays in a currency that fails, you may get paid back, but you won’t be able to buy anything)
  • Income (interest, dividends or profits from ongoing operations…like rent)
  • Capital Appreciation (equity from buy low, sell high)
  • Growth and Income (a balance between growth and income…something income producing real estate does quite well).

Then you have to look at time frames and liquidity.  How long can you leave the money in the investment?  What if you have an emergency and need the money out sooner than expected?

If not being able to get to the money creates a unbearable hardship, you can only choose investments which can be quickly sold or otherwise converted to cash.

Typically, the more liquid an investment is, the lower the return (think savings account)…or the more volatile the pricing (think stocks).

Real estate is relatively stable, but not very liquid.

This a bigger topic than a blog or a broadcast, but an important one.

Basically, it comes down to knowing your needs and understanding your options.  Both require asking good questions, verifying the answers, and thoughtfully considering how to best select the investment choices whose features most align with the needs you’re trying to meet.

 

Where to Get Money for Building and Investing?

 

Another common and popular question.  The great news is there are LOTS of options!

Typically when people ask this question, it’s because they aren’t lendable or banks aren’t lending.

So aside from traditional loans where you need to qualify based on your credit, income, net worth and (sometimes) your investing experience, private money is a place many investors are turning to these days.

In our Secrets of Successful Syndication Seminar we talk about how private investors can serves as lenders or as equity partners, or as both.

And with interest rates so low and the stock market so volatile, many people are looking at private placements back by real estate as a great place to invest their savings.

Many of these private investors are discovering they can use funds from their self-directed IRA, in additional to their other savings and investments, and enjoy the benefits of real estate without the hands on hassle.

So if you have investing expertise and can show a private investor how you can put their money to work in your deal and pay a good return, you’ll probably get some takers.

You still need to “qualify”, but it’s personal based on the relationship, the deal, and your’s and your team’s ability to execute.

 

Where Can I Find an Experienced Investor to Mentor Me?

 

This is a GREAT question for several reasons.  First, it implies the need to learn from someone more experienced.  Real estate investing attracts a lot of mavericks and they naively dive in because it looks easy.

Then, when they get in trouble, they don’t have anyone to turn to for help.  Or they’re embarrassed and just try to figure it out on their own.

If you push your limits (and you should), you’re bound to get stuck at the upper limits of your ability.  This is where your mentor can help you break through.

They key is to have the right mentor with the right access and relationship.

This is a TALL order because most successful people are very busy.  So when you find a prospective mentor, you’ll need to provide something of value.

So the first thing is to decide what kind of investor YOU want to be.  Then go look for someone who’s been successful doing what you want to do.

Next, figure out a way to get close.  You want to learn as much as you can, so you can look for ways to add value.

Obviously, sometimes people who love to teach create mentoring programs.  And if they’re credible and qualified, these can be great investments.

Other times, you might find someone to mentor you in exchange for your helping them.  For example, you could volunteer time to do research, vet deals, inspect properties or assist an active investor in some way.

A GREAT way, if you have the ability, is to help an expert investor write a books, create a seminar or develop a training program.  Now you’re on the inside, and you get a front row seat for all the best ideas.

 

You’re Just One Good Idea or Relationship Away from a New Success

 

While it’s true you need to kiss a lot of frogs to find the Prince Charming real estate market, team member, deal, investor or mentor…when you find that winner, it suddenly all becomes worth it.

And because most people don’t have the fortitude to keep pressing forward, you’ll find the longer you stay in the game, the less crowded it is.

So keep on kissing those frogs and it won’t be long before you leap frog to the top!

 

More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Finding, Financing and Syndicating Multi-Family Properties

Michael Becker from Old Capital explain how to invest in apartment buildings from the perspective of a lender, an investor and a syndicator

 

Apartment buildings are the logical step up for most single-family home investors. And apartments are where many of the “big boys” play.

In a low interest rate world, the cash flows on multi-family properties has attracted gobs of capital…creating a many funding options, but also a lot of competition for viable deals.

In this episode, we visit with a multi-family lender, investor and syndicator to discover what he sees…and what he’s doing…in one of the hottest apartment markets in the U.S.

Taking part in this apparition of The Real Estate Guys™ radio show:

  • Your A-class host, Robert Helms
  • His C-class co-host, Russell Gray
  • Our multi-faceted special guest, Michael Becker

 

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Apparently Apartment are Appealing

 

Except for an under cheek sneak rate hike of 25 basis points back in December, the Fed hasn’t been able to pry interest rates off the floor in nearly 8 years.

Since the depths of the Great Recession, investors have been faced with taking their hard earned funds into the Wall Street casinos…OR…putting them into hardly earning savings accounts and bonds.

Once the dust settled after the mortgage bomb went off, apartments emerged as one of the most appealing asset classes…for lenders, investors and institutions.  So much so that gazillions of dollars poured into the space…pushing prices UP and cap rates (yield on capital) DOWN.

In spite of that, apartments remain a VERY high demand product type….especially in the right markets.

 

Apartment Lending Today is as Good as It Gets

 

Assuming your definition of “good” isn’t indiscriminately lending to unqualified borrowers against poorly performing over-priced properties in pathetic markets (say that fast 10 times…that, that, that, that, that, that…..)

Michael Becker says lending today is as good as you can get.  And that’s GREAT news for serious investors.

Becker reminds us that 8 years ago, in the wake of the meltdown, banks were effectively in the fetal position licking their wounds.  They weren’t interested in lending.  They just wanted to survive.

Today, regional and community banks are actively engaged in commercial real estate lending.  Fannie and Freddie have HUGE bucket of over $30 billion to place this year.  And even paper asset investors are beginning to have an appetite for CMBS (Commercial Mortgage Backed Securities) again.

That’s all AWESOME…because funding is the fuel that powers your portfolio.  It’s hard to go very fast without it.

 

How To Qualify for an Apartment Loan

 

The first thing to understand when it comes to apartment loans is that it’s all about the DEAL.  Well, at least mostly.

The lender knows the payments are coming from the operations and not from your personal paycheck.  Whew!

So the lender will take a good look at the property and especially the income and expenses.  If there’s plenty there, getting the loan will be a LOT easier.

But YOU still matter.

The lender wants to know you know how to operate an apartment building.  So EXPERIENCE really matters.

Now, just like your first job, you may wonder how do your get your first deal if you have to be experienced.  After all, if this is your first deal, then by definition you have no experience.

Sounds like a Catch-22.  And it is.  Sort of.

The secret is to partner with someone experienced so you get a deal on your resume.  Then, “Voila!”…you’re experienced.

It’s not rocket surgery.  But you do have to know someone who’ll help you lose your apartment investing virginity.

 

What Are the Risks of Investing in Apartments?

 

Big question.  The short answer is not knowing what you’re doing.  That’s why the lenders want to see experience.

But even when you KNOW what you’re doing as an “operator”, you also need to make sure you’re structured to weather stormy weather.  And we’re not talking monsoons or hailstorms.  More like financial earthquakes.

So our chat with Becker reminded us of some brilliance we penned in Equity Happens

“Cash Flow Controls and Reserves Preserve”

It’s really common sense.  But when an asset class gets hot, price speculation is SO much more exciting than boring cash flow.  And who likes to sit on piles of idle cash for a rainy day?

But sufficient “debt coverage ratio”…a fancy term for Net Operating Income (Gross Rents less Operating Expenses before Debt Service) being MORE than the mortgage payment is not just required…but a good idea.  Lenders usually want about 20% more…or more.  And so should you.

But besides having enough cash flow to comfortably pay the mortgage, it’s important to have enough cash reserves to handle unexpected capital expenses…like a new roof, sewer or parking lot.

After all, if you can’t maintain the property, you’ll lose tenants…and income.  And if you REALLY neglect the property, the regulators might come shut you down completely.  That would be bad.

 

Always Have a Plan A, B and C

 

Real estate investors tend to be optimists.  We buy properties because we expect things to go well.  Otherwise, why would we bother?

And most of the time, most things go pretty well.  At least well enough to manage.  And many of the problems are things we can control…or substantially influence.

But sometimes stuff just happens that’s hard to deal with and outside our control.  So in addition to adequate cash flow and reserves, it’s a smart idea to have more than one plan for the property.

As a rule of thumb, you should never get into a deal…or structure a deal…so you don’t have at LEAST two ways out.  Call them Plan A and Plan B.  And tossing in a Plan C is usually a good idea too.

For example…since we’re on the topic of financing…based on today’s climate (stupid low interest rates) it’s wise to lock in as LONG as possible.  Even if you’re plan is to pump up the rents and refinance out all your new equity or sell to the highest bidder in a couple of years.

What if interest rates rise and there are no good loans available to both you or your potential buyer?  Are you prepared (Plan B) to stay in the deal and ride out the storm?  You should be.

And if you’re syndicating (raising money from private investors) and the property’s doing great (good job!), it can be REALLY tempting to highlight your brilliant investing skills and cut all your investors big, fat checks.

But this drains your cash reserves, and if you fit a speed bump on that rocky road to riches, a little cash can smooth things out.  If you don’t have it, then you might need to make a dreaded “cash call” on your investors.  Yuck.  That’s no fun.

What IS fun is listening to a smart and accomplished guy like Michael Becker talk about how he went from small time to medium large time in just a few years.  Over 3,000 doors and counting.

Now THAT sounds like a good plan!

 

More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Keys to Investing Success Mastery with the Legendary Brian Tracy

Brian Tracy created Success Mastery Academy to share his time tested principles of success

Overview

Special guest Brian Tracy is a legend in personal and professional development training. In a prolific career spanning decades, Brian has trained millions of entrepreneurs, investors, small business owners and corporate professionals.

Brian’s enduring appeal can be summed up in one word: effective. Quite simply, his stuff strikes the important balance between inspiration and practical how-to.

And because personal effectiveness is a huge part of successful real estate investing, we’re excited to have Brian as our special guest for this episode.

Manning the microphones for this masterful edition of The Real Estate Guys™ radio show:

  • Your master of ceremonies host, Robert Helms
  • His master of nothing co-host, Russell Gray
  • Our master of success guest, Brian Tracy

 

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“Mastering others is strength.  Mastering yourself is true power.” – Lao Tzu

When it comes to success, few people in modern times have had as much impact as the legendary Brian Tracy.

A best-selling author, entrepreneur, professional speaker and success expert…what many people don’t know about Brian is he also has quite a background in real estate.

In fact, way back when Robert Helms was in the formative stages of his real estate career, he heard Brian talk about being involved in over $100 million of real estate development.  Back then, $100 million seemed like a HUGE amount.

Little did either of them know at the time what the future would hold for Robert…or that one day he and Brian would become friends.  And now today, Robert is speaking at the 20th anniversary of Brian Tracy’s Success Master Academy in Dallas on May 13-15, 2016!

Investing Mastery Starts with Success Mastery

Our magic formula for success is V + K + D = EA.

V is for Vision.  We say when you have clarity of vision, strategy and tactics become evident.  Put another way, when you can see the cover of jigsaw puzzle box, it’s easier to figure out where the pieces go.

Most of have a vision.  We have a pretty good idea what we want our lives to look like.  When we have that, it’s easier to decide what our portfolio needs to look like to support it.

Again, the more CLEAR you are on both counts, the more more likely you’ll make good choices between what to put in…and what to leave out.

But there’s more to success than Vision.  You also need…

K for Knowledge.  Knowing WHAT you want…or what OUTCOMES you want…is very different from knowing HOW to get there.  It’s great to be motivated.  But you also have to have practical, tactical know-how.

So Knowledge is just as essential as Vision.

The good news is we live in the information age.  The know-how to do almost anything is right in the palm of your hand.

But if knowledge is ubiquitous, then why doesn’t EVERYONE succeed?

It comes down to…

D for Discipline.  And this is REALLY the key.

Sure, Vision and Knowledge are VERY important.  But without the discipline to actually DO what’s needed…nothing happens.  Knowing and not doing is the same as not knowing.

But when you can put Vision together with Knowledge and the Discipline to go do it, you get…

EA for Effective Action.

This formula really applies to ANY area of achievement.  So when you’re not producing the results you want, ask yourself if you’re clear.  Would you recognize success if it was standing right in front of you?  Do you know what “success” looks like?

Do you know what needs to be done to achieve your goals?  Do you have the knowledge?  Do you know who to ask or hire?

If you’re know what you want and you know how to get it, then all that’s left is doing it.  Easy, right?

Not always.  Think about all the people who want six-pack abs.  They know what it looks like.  They know how to do it.  But do they have the DISCIPLINE?  Most don’t.  That’s why doing it so special.

The same is true with your investing.

 

Feed Your Mind Great Ideas and Mingle with Great People

It may sound a little kooky, but how you talk to yourself matters.  Rich Dad Advisor Blair Singer calls it your “little voice”.

You can encourage yourself or demean yourself.  It’s a choice and a discipline.

Of course, a huge shortcut is to spend time hanging around with, listening to and talking with successful people.  Especially those who are successfully doing what you want to do.  That’s because you pick up both attitudes and knowledge…at the same time!  What a shortcut!

It’s why we’re so committed to attending, producing and promoting LIVE events.  They’re great ways to get into real world relationships with great people.

How do you know the people at a live event are a cut above?

Because they’re THERE.

Think about it…

For every great person who shows up at a live event…overcoming the barriers to entry like travel, expenses, tuition, time away…there are hundreds of people whose little voice talks them OUT of it.

I can’t afford it” or “What if it’s no good?” or “I’ll probably never follow through anyway…so why bother?

That’s loser talk.  And the good news is those people seldom show up at a properly priced live event.  So the chances are good you’ll meet a disproportionate number of positive, high achieving interesting people…simply because there are more of them in the room.

Brian Tracy has been the attraction to bring millions of high achievers together over the last few decades.  We’re excited he’s doing it again in Dallas on May 13-15, 2016.  We’re going to be there.  We hope YOU are there too!

Remember:  You’re always just one great idea or relationship away from hitting a new high in your business or investing.  But great ideas and people seldom interrupt you.  You need to seek them out.

More From The Real Estate Guys™…

 

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

Becoming the Best Possible You – Investing Success Starts with YOU

Kyle Wilson of the Lessons from Experts Network says personal growth is the foundation of business and financial growth

Overview

YOU are at the center of your investing universe.  Everything you hope to achieve and acquire grows out of your attitude, knowledge and actions.  So becoming the best possible you is the most important thing you can invest time, money and energy into!

In this episode we take a look at how to be successful in ALL areas of life…including real estate investing!

In the best possible studio for a successful edition of The Real Estate Guys™ radio show:

  • Your best possible host, Robert Helms
  • His impossible co-host, Russell Gray
  • Our especially successful guest, Kyle Wilson

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Broadcasting since 1997 with over 300 episodes on iTunes!

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Lessons From Kyle Wilson

It’s been said that success leaves clues.  We agree!

Over the years, we’ve picked up some great insights from some of the many high achievers we’ve had the privilege to get to know over the years.

Kyle Wilson is the founder of Lessons from Exports Network and the former President of Jim Rohn InternationalOne of those great guys is Kyle Wilson.

Kyle was business partners with the late, great Jim Rohn for 18 years in their company, Jim Rohn International.

Jim Rohn was considered America’s foremost business philosophers.  One of Jim’s many students is the world-renowned Tony Robbins (Unlimited Power, Personal Power, Get the Edge).

Along the way, Kyle founded Your Success Store, which distributed all kinds of personal development and success merchandise.  He eventually sold that business to the same organization which owns Success Magazine.

Success Mastery

Kyle also produced many fantastic live events.  As long time listeners know, we’re HUGE believers in attending live events…for many reasons.

First, when you’re THERE, you’re totally immersed in the experience.

If you REALLY want a good idea to sink in, then you need to soak in it.  Being there is the BEST way to be sure you’re not distracted by the thousand trivial “emergencies” which can rob you of that next big “Aha!”.

Also, when you’re in the same place as other people who are SERIOUS about their success…in whatever the subject matter…you’re likely to make a great connection.

We always say that you’re just one relationship away from a breakthrough in your business, investing or life.

Relationships are VERY important.  Going to where great people are is such a shortcut for meeting the RIGHT people.

Change Your Life

Of course, in Kyle’s case, he had a front row seat.

In addition to Jim Rohn, Kyle worked closely with some legends of success including Brian Tracy, the late Zig ZiglarDenis Waitley, Les Brown, Darren Hardy and MANY, MANY more.

When you hang around people…any people…you begin to pick up their attitudes, habits, beliefs…even their self-talk.  It’s amazing.  And scary.

If you spend too much time with a mediocre, negative, low achieving crowd…guess what?  You’re success is impeded.

But if you spend time with high-performance, positive, driven people…you get pulled UP.  You start to think and behave more like them.

Robert Kiyosaki’s Rich Dad Advisor for real estate Ken McElroy says the first step to improving your life and your business is to hang around better people.

And think about this…

If when you’re young, say 25 years old, you and your friends are all into music and funny videos.  But you decide to invest just 30 minutes a day listening to audio books, TED talks, educational podcasts, etc.

If you get just ONE good idea per day more than your friends, by the end of a year, you have 365 more good ideas in your mind than your pals.

By the time you’re 35 years old (10 years later), you have 3,650 more good ideas.  By 45, you have 7,300 more.

Robert Helms and Russell Gray were blessed to hang out with the late great Jim Rohn

Robert Helms and Russell Gray with the late great Jim Rohn in 2004

You get the idea.  As Jim Rohn said, “The book you don’t read can’t help you.”

Education for Effective Action™

Take it a step further…

We all have 24 hours in a day, 7 days in a week and 52 weeks in a year.  So the access to time isn’t the limiting factor for most people.  It’s what they DO in the time they have.

We already talked about how just getting one good idea per day in your mind can create a HUGE chasm between you and those who can’t be bothered.

A brilliant idea can be worth a fortune...if you act on it.But ideas aren’t really all that powerful…UNLESS they’re acted on.

Most people have been exposed to great ideas, but they allow fear, insecurity, doubt or other limiting beliefs to delay or prevent taking action.

What if you were able to speed up how quickly you recover from a setback or how fast you implement a good idea…by just 10 minutes a day?

Once again, it’s math.

At the end of the year, you’re 3,650 minutes or 60 hours ahead.

In 10 years, you’re 600 hours, or (based on a 40 hour work week) 15 weeks ahead.

We know that doesn’t sound like much.  But it’s MUCH bigger than that…for two reasons.

The Compound Effect

First, efforts compound.  So when you’re 60 hours ahead at the end of a 2,000 hour work year, you’re 3% ahead of where you would have been if you’d acted just 10 minutes slower each day.

But when you’re building businesses and investment portfolios, the things you do early in life compound over decades.  It’s how high-achievers accomplish so much.  Over time, their efforts compound, and after a few years, they’re WAY ahead.

Darren Hardy talks about this in his best-selling book, The Compound Effect.

Your future depends on what you do today. Take effective action!

Knowledge is only power when acted upon. Education for Effective Action!

But there’s an even MORE important concept…

Have you ever missed a bus, train or plane by just a few minutes?

The delay is far more than just the few minutes by which you missed the vehicle.  You’re delayed by the amount of time it takes for the next comparable vehicle to come back around.

In real estate investing, the “vehicle” is the deal.

It may take you weeks or months of searching to find a great deal.  And when you do, you need to act quickly to secure it.  Because if you don’t, someone else will.

If you miss that great deal by 10 minutes, it might be MONTHS before you find another one like it.  Now, you’re WAY behind.

No wonder it’s been observed that rich people are decisive.

The same is true for strategic relationships.  If you miss an opportunity to meet or connect with people who can bring your great ideas, opportunities or other strategic relationships, those people you don’t meet can’t help you.

Of course, in addition to learning how to take effective action faster, in order to attract great people into your life, you need to be the BEST possible you.

That’s what this episode is all about.  So we hope you’ll decide to listen in as chat with our good friend Kyle Wilson about what he’s learned as a high achiever who hangs out with high achievers.

Then make plans to attend a LIVE event…where you can soak in some great ideas and meet up and coming superstars!

More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources that help real estate investors succeed.

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