In this episode, Chris Prefontaine shares his extensive experience in real estate, focusing on creative financing and coaching. He discusses his journey from facing financial difficulties during the 2008 crash to building a successful coaching business that emphasizes owner financing and helping students achieve financial freedom. Chris explains the importance of understanding market dynamics, identifying seller needs, and leveraging virtual assistants in the real estate business. He also introduces the concept of the 'three paydays' in real estate transactions and provides insights into the current market opportunities for buyers and investors.

Chapters

00:00
Introduction to Chris Prefontaine and His Journey
03:28
Focus on Single Family Properties and Creative Financing
05:16
Understanding Real Estate on Your Terms
06:59
Surviving Market Cycles with Creative Real Estate
08:29
Identifying Opportunities in the Current Market
09:07
Typical Scenarios for Creative Financing Deals
12:59
Techniques for Identifying Seller Needs
15:56
The Role of Virtual Assistants in Real Estate
19:11
Transitioning from W-2 to Real Estate Investing
21:20
The Three Paydays Explained
23:58
Real Deal Example of Creative Financing
27:51
Timing and Market Dynamics for Buyers
30:17
Joining the Wicked Smart Community

Takeaways

Chris Prefontaine has 34 years of experience in real estate.
He emphasizes creative financing as a way to buy properties without traditional bank loans.
The Wicked Smart community focuses on supporting students through revenue sharing.
Understanding seller needs is crucial for successful real estate transactions.
Virtual assistants can significantly enhance productivity in real estate investing.
The 'three paydays' model provides multiple income streams from real estate deals.
Market dynamics can create opportunities for creative financing.
Identifying free and clear properties is a key strategy in the current market.
Coaching and mentorship are essential for new investors to succeed.
The Wicked Smart community offers extensive support and resources for its members.

Connect with Chris Prefontaine

🔍 LinkedIn
🌐 Website
📧 Email

In this episode of Peak Profits, Chris Ward interviews Justin Moy, a professional passive investor and fund manager with extensive experience in commercial real estate. Justin shares his journey from starting in real estate at a young age to transitioning into commercial investments. He discusses the challenges he faced, including the evolution of the real estate market and the lessons learned from his first commercial deal. The conversation delves into the importance of property management, the risks of remote ownership, and the criteria for evaluating investment opportunities. Justin emphasizes the significance of partnering with the right operators and the alignment of interests between investors and fund managers. He concludes by discussing his motivation to educate others about real estate investing. In this conversation, Justin Moy shares his journey in real estate investing, highlighting the importance of understanding the escrow process and the value of knowledge in the industry. He discusses his investment strategy, focusing on quality over quantity, and the significance of debt funds in the current market. Justin sets ambitious passive income goals and emphasizes the need for a balanced portfolio that prioritizes growth before cash flow. He envisions a future where adaptability is key, and he remains committed to his passion for real estate and helping others navigate the investment landscape.

Chapters

00:00
Introduction to Passive Investing and Real Estate
02:55
Justin's Journey in Real Estate
06:05
Transitioning to Commercial Real Estate
08:54
First Commercial Deal and Lessons Learned
11:54
Managing Properties and Remote Ownership Risks
15:10
Criteria for Evaluating Investment Opportunities
17:58
The Importance of Operator Relationships
21:00
Becoming a Fund Manager and Investor Education
23:25
The Awakening of Real Estate Knowledge
25:04
Investment Strategy and Deal Selection
28:00
Understanding Debt Funds
30:51
Setting Ambitious Passive Income Goals
33:39
Balancing Growth and Cash Flow
39:01
Future Vision and Adaptability

Takeaways

Justin started in real estate at 18 years old.
He initially aimed to buy one property a year.
The real estate market has changed significantly over the years.
Remote ownership poses significant risks in property management.
It's crucial to have a strong presence on-site for effective management.
Criteria for evaluating deals have evolved over time.
Partnership with experienced operators is essential.
Investors should look for alignment of interests with operators.
Having personal investment from operators is important for deal security.
Education in real estate investing is vital for new investors. Real estate knowledge is often underestimated by the general public.
Quality investments are prioritized over quantity in deal selection.
Debt funds offer a lower-risk investment option with consistent returns.
Setting higher passive income goals can lead to greater financial success.
Growth in investments should be prioritized before focusing on cash flow.
Understanding the risk-return profile is crucial for investors.
Patience is essential in real estate investing for long-term gains.
The market can change, and adaptability is key for investors.
Building a strong investor base takes time and trust.
Engagement on platforms like LinkedIn can enhance networking opportunities.

Connect with Justin Moy

🔍 LinkedIn
🌐 Website

In this episode of the Peak Profits podcast, Joe Downs shares his entrepreneurial journey, highlighting his diverse experiences from finance to hospitality and ultimately to self-storage. He discusses the importance of reinvention, the role of mentorship, and the unique opportunities within the self-storage market. Joe emphasizes the lessons learned from failures and the distinction between knowledge and wisdom in making business decisions. His story serves as an inspiration for aspiring entrepreneurs, showcasing the potential for growth and success in recession-resistant sectors. In this conversation, Joe Downs discusses the lucrative opportunities in the self-storage industry, particularly focusing on the impending transfer of ownership as baby boomers retire. He explains the advantages of using SBA loans for financing self-storage facilities, highlighting the lower down payment requirements compared to traditional real estate investments. Joe also shares strategies for maximizing revenue through effective management and marketing, emphasizing the importance of understanding local market dynamics. The discussion concludes with insights on the future of self-storage as an investment opportunity.

Chapters

00:00
Introduction to Joe Downs and His Journey
05:04
The Evolution of Joe's Entrepreneurial Spirit
12:48
Discovering Self-Storage: A New Opportunity
17:37
The Growth of Bellrose Storage Group and Mentorship
24:11
The Importance of Wisdom in Entrepreneurship
24:40
The Landscape of Self-Storage Facilities
30:14
Financing Self-Storage: Understanding SBA Loans
36:08
Maximizing Revenue: Strategies for Self-Storage Operations
42:51
Conclusion and Future Insights on Self-Storage

Takeaways

Joe Downs has a diverse entrepreneurial background, from finance to hospitality.
His early experiences shaped his understanding of business and sales.
Failures in business provided critical lessons for future success.
The self-storage industry presents unique opportunities for investors.
Mentorship plays a crucial role in navigating the complexities of real estate.
Joe emphasizes the importance of reinvention in entrepreneurship.
He highlights the difference between knowledge and wisdom in business decisions.
Self-storage facilities are largely owned by small operators, creating market opportunities.
Joe's journey illustrates the value of persistence and adaptability.
The Bellrose Storage Group has grown significantly under Joe's leadership. There are at least 20,000 self-storage facilities owned by 'mom and pop' operators.
Many self-storage facilities will change hands in the next decade due to aging owners.
Self-storage is a business, not just an investment.
SBA loans allow for lower down payments on commercial real estate.
Self-storage facilities can generate significant cash flow compared to residential properties.
Education and mentorship are crucial for success in self-storage investing.
The average occupancy rate for self-storage facilities can fluctuate based on market conditions.
Effective management can significantly increase the value of self-storage facilities.
Marketing and technology are key to driving revenue in self-storage operations.
Self-storage is often overlooked as a viable investment opportunity.


Connect with Joe Down

🔍 LinkedIn
🌐 Website

In this episode of Peak Profits, Chris Ward interviews Vince Gethings, a US Air Force veteran who transitioned into a successful real estate entrepreneur. Vince shares his journey from using a VA loan to acquire his first property to managing over a hundred million dollars in real estate. He emphasizes the importance of mentorship, the challenges of scaling from residential to commercial real estate, and the strategies he employed to manage properties effectively from a distance. Vince's insights provide valuable lessons for aspiring real estate investors. In this conversation, Vince Gethings shares his insights on managing real estate investments, emphasizing the importance of tracking key performance indicators (KPIs) and maintaining accountability with property management teams. He discusses the discipline required to reinvest profits back into the business, avoiding the pitfalls of immediate gratification. Vince also reflects on his journey from being a student in a mastermind group to becoming the owner of Wheelbarrow Profits, highlighting the significance of mentorship and the power of surrounding oneself with like-minded individuals. He outlines his vision for the future of Wheelbarrow Profits, focusing on enhancing community engagement and offering more experiential events.

Chapters

00:00
Introduction to Vince Gethings and His Journey
02:09
Starting with VA Loans and Early Real Estate Experiences
05:01
The Importance of Mentorship in Real Estate
08:08
Transitioning from Residential to Commercial Real Estate
13:35
Understanding the Value of Mentorship
15:57
The First Commercial Deal: A 52-Unit Property
22:59
Managing Properties from Afar: Strategies and Insights
26:12
Understanding Key Performance Indicators in Real Estate
30:31
The Importance of Accountability in Property Management
34:53
Discipline and the Conveyor Belt of Success
39:38
Acquiring Wheelbarrow Profits: A Full Circle Journey
42:12
Future Vision for Wheelbarrow Profits

Takeaways

Vince started his real estate journey using a VA loan.
He emphasizes the importance of mentorship in scaling real estate investments.
The transition from residential to commercial real estate requires education and guidance.
Vince's first commercial deal was a 52-unit property in Michigan.
He leveraged local knowledge to make informed investment decisions.
Establishing a cadence of accountability is crucial for property management.
Weekly meetings with KPIs help maintain performance standards.
Starting with smaller properties allows for learning and growth.
Investing in mentorship can save time and prevent costly mistakes.
Building relationships with brokers is key to finding good deals. Track your KPIs consistently to spot trends early.
Property managers often underperform without accountability.
Reinvest profits instead of spending on luxuries.
Discipline is key to maintaining growth in real estate.
Surround yourself with high-level individuals for growth.
Don't quit your job too soon; maintain cash flow.
The power of community and mentorship is invaluable.
Focus on long-term goals rather than short-term gains.
Experiential events can enhance community connections.
A clear vision is essential for future growth.

Connect with Vince Gething

🔍 LinkedIn

🌐 Website

In this episode of the Peak Profits podcast, Bryan Morris interviews Nick Grazicki, a successful real estate broker who has sold over $130 million in real estate deals in South Florida. Nick shares his journey from aspiring dentist to real estate entrepreneur, detailing the challenges he faced and the strategies he employed to build a successful career in a competitive market. He emphasizes the importance of mentorship, networking, and the need to adapt to market changes. Nick also discusses his transition into investment syndication, highlighting the differences between brokerage and commercial property investment. In this conversation, Nicholas Grodzicki shares his journey in real estate investment, focusing on the lessons learned from his first deal, the importance of building trust with investors, and his shift from single-tenant to multi-tenant properties. He discusses the challenges faced in the market, particularly with family dollar store closures, and emphasizes the significance of buying right. Nicholas also explores new opportunities in debt and equity investments, highlighting his passion for real estate and the importance of continuous learning through books and mentorship.

Chapters

00:00
From Dentistry to Real Estate: A Journey Begins

05:53
Building a Network in a New Market

11:19
The Importance of Mentorship in Real Estate

17:25
Navigating Challenges and Seizing Opportunities

23:44
Scaling Up: Transitioning to Investment Syndication

32:02
Navigating Single Tenant Risks

39:15
Building Trust with Investors

44:26
Shifting Focus: From Single Tenant to Multi-Tenant

49:29
Exploring New Opportunities in Debt and Equity Investments

52:04
Book Recommendations and Personal Growth

Takeaways

• Nick transitioned from dentistry to entrepreneurship after discovering his passion for real estate.
• He reached out to successful real estate professionals on LinkedIn to learn about the industry.
• Building a network in a new market requires persistence and strategic outreach.
• Mentorship played a crucial role in Nick's early success in real estate.
• Nick's first year in real estate resulted in 18 listings and $8 million in sales.
• He learned the importance of paying it forward in mentorship relationships.
• Nick's success was driven by hard work and a willingness to take risks.
• The pandemic forced Nick to pivot his focus towards investment syndication.
• Nick's first syndication deal yielded a 30% return on investment.
• He aims to build a scalable real estate business through investment opportunities. Family Dollar's closure taught me the risks of single tenant investments.
• Building trust with investors is crucial for success.
• Buying right is essential to protect investments.
• Investors appreciated consistent monthly distributions.
• Management of single tenant properties can be less intensive.
• I shifted focus to multi-tenant properties for better returns.
• Debt fund investments offer quicker turnarounds for investors.
• Continuous learning through books is vital for growth.
• Networking and partnerships can lead to new opportunities.
• Real estate is a passion that drives my career.

Connect with Nick Grodzicki

🔍 LinkedIn

In this episode of the Peak Profits Podcast, Bryan Morris interviews Elijah Brown, founder of Goldhawk Capital. Elijah shares his journey from a college student interested in banking to a successful entrepreneur in multifamily real estate. He discusses the challenges and lessons learned from his early investments, the differences between investing in REITs and private placements, and the strategies behind Goldhawk Capital. The conversation also delves into underwriting principles, key metrics for investment decisions, and the importance of a comprehensive due diligence process. In this conversation, Elijah Brown from GoldHawk discusses the importance of transparency in investment, the challenges of capital raising in the current market, and the outlook for multifamily investments. He emphasizes the need for a comprehensive investment checklist and shares insights on geographic diversification in real estate. Brown also outlines the future direction of GoldHawk and offers valuable advice for new operators and capital raisers.

Chapters

00:00
Elijah Brown's Journey in Real Estate

03:01
Scaling from Single Family to Multifamily Investments

06:02
Lessons Learned from Early Deals

09:02
Transitioning from REITs to Private Investments

12:07
Understanding the Differences: REITs vs. Private Placements

15:02
The Birth and Strategy of Goldhawk Capital

18:06
Underwriting Principles and Deal Flow Management

20:50
Key Metrics for Investment Decisions

24:06
Creating a Comprehensive Due Diligence Questionnaire

25:30
Investment Checklist and Transparency

31:02
Challenges in Capital Raising

34:27
Market Outlook and Investment Opportunities

40:26
Geographic Diversification in Investments

44:58
Future of GoldHawk and Strategic Growth

46:30
Advice for New Operators and Capital Raisers

Takeaways

• Elijah transitioned from banking to real estate after realizing his passion for rental property investing.
• He started investing in single-family homes while in college with friends.
• Scaling from single-family to multifamily required partnerships and a focus on strengths.
• Lessons from early deals included the importance of thorough due diligence and managing expectations.
• Working at a REIT provided valuable experience but was different from his current investment strategy.
• Investing in REITs offers less control and different tax implications compared to private placements.
• Goldhawk Capital was formalized as a brand after Elijah's initial investments.
• Elijah's team now handles underwriting, allowing him to focus on strategic decisions.
• Key metrics for investment include operator experience, purchase price, and cash flow.
• A comprehensive due diligence questionnaire helps manage risk in investment decisions. Elijah created a comprehensive investment checklist with 230 questions.
• Transparency in data rooms is crucial for investor trust.
• 95% of investors rely on the manager's judgment rather than documents.
• Raising capital has become increasingly challenging post-COVID.
• Effective LinkedIn engagement can lead to capital raising success.
• Building a strong network of operators is essential for deal flow.
• The current market presents unique opportunities for multifamily investments.
• Geographic diversification allows for better investment strategies.
• GoldHawk aims to evolve into a boutique real estate investment bank.
• New operators should partner with experienced ones to build credibility.

Connect with Elijah Brown

🔍 LinkedIn

🌐 Website

📧 Email

In this episode, Ben Weiner from CoStar discusses the pivotal role of data in commercial real estate. He explains how CoStar supports clients through the entire deal lifecycle, from acquisition to asset management and disposition. The conversation highlights the importance of strategic planning, market analysis, and the diverse applications of CoStar's data for investors and operators. Real-world success stories illustrate the platform's effectiveness, showcasing how clients leverage CoStar to identify opportunities and make informed decisions in the competitive real estate market. In this engaging conversation, Ben Weiner shares his passion for building relationships in the real estate industry and the power of data analysis through CoStar. He discusses the joy of connecting with new people, the creative use of data for insights, and the underutilized features of CoStar that can enhance investment strategies. The conversation also touches on market trends, demographics, and how to effectively utilize CoStar for real estate investments. Ben emphasizes the importance of continuous learning and gratitude towards his clients for their role in his professional growth.

Chapters

00:00
Introduction to CoStar and Its Impact

04:20
Understanding CoStar's Role in the Deal Lifecycle

10:55
Strategic Planning and Market Analysis with CoStar

13:49
Custom Analytics and Use Cases for Investors

19:18
Real-World Success Stories and Client Experiences

23:52
Diverse Asset Classes and CoStar's Comprehensive Data

26:03
The Joy of Connection: Building Relationships in Business

28:36
Data-Driven Insights: The Power of CoStar

32:20
Unlocking CoStar: Underutilized Features and Tools

34:44
Strategic Deal-Making: Utilizing CoStar for Investments

42:42
Market Trends and Demographics: Understanding Growth Patterns

45:17
Connecting with Ben: How to Reach Out

Takeaways

• CoStar is the industry leader in commercial real estate data and analytics.
• The platform supports clients through every stage of the deal lifecycle: acquisition, management, and disposition.
• CoStar provides access to both on-market and off-market properties, enhancing strategic planning.
• The platform's extensive data allows for detailed market analysis and custom analytics.
• Clients can quickly access critical information, enabling faster decision-making.
• CoStar's mobile app empowers brokers to act swiftly in the field.
• The platform is essential for identifying equity partners and market share reports.
• CoStar tracks a wide range of asset classes, including multifamily, retail, and industrial.
• The data is verified regularly, ensuring accuracy and reliability.
• Unlimited training and support are available to help clients navigate the platform. I love meeting new people and understanding who they are.
• Using data creatively can lead to exciting insights.
• CoStar has features that go beyond leasing.
• The directory feature helps find the right brokers.
• Understanding market trends is crucial for investment success.
• Continuous learning is key in the real estate industry.
• Building relationships is essential for business growth.
• CoStar can track demographic changes over time.
• Networking can lead to unexpected opportunities.
• Gratitude towards clients fosters professional development.

Connect with Ben Weiner

🔍 LinkedIn

🌐 Website

In this conversation, Eric Oliver discusses the intricacies of cost segregation and its benefits for real estate investors. He explains how cost segregation allows for accelerated depreciation, enabling property owners to maximize tax deductions. The discussion covers the timing of cost segregation studies, the relationship between depreciation and taxes, and the differences between active and passive income. Eric also highlights the significance of bonus depreciation and how it can enhance tax savings for investors. Overall, the conversation provides valuable insights into leveraging cost segregation for financial benefits in real estate investments. In this conversation, Erik Oliver discusses the intricacies of cost segregation and accelerated depreciation, explaining how these tax strategies can significantly benefit real estate investors. He addresses common misconceptions about depreciation recapture, outlines the process of conducting a cost segregation study, and shares real-world success stories, particularly highlighting unique asset classes like car washes. The discussion emphasizes the importance of understanding these financial tools to maximize tax savings and investment returns.

Chapters

00:00
Introduction to Cost Segregation

03:06
Understanding Cost Segregation

05:55
Timing for Cost Segregation Studies

08:56
Depreciation and Its Tax Benefits

12:00
Active vs Passive Income in Real Estate

17:56
Leveraging Cost Segregation for Tax Savings

20:59
Bonus Depreciation Explained

27:11
Practical Applications and Strategies

28:19
Understanding Accelerated Depreciation and Its Benefits

29:49
Demystifying Depreciation Recapture

35:40
The Cost Segregation Process Explained

41:21
Real-World Applications and Success Stories

46:40
Leveraging Cost Segregation for Past Properties

Takeaways

• Cost segregation allows for accelerated depreciation on real estate assets.
• Depreciation is a non-cash expense that reduces taxable income.
• Cost segregation studies can be performed at any point during property ownership.
• Investors can strategically choose when to utilize cost segregation deductions.
• Passive income can only be offset by passive deductions, and vice versa.
• Bonus depreciation allows for significant first-year tax deductions.
• The IRS allows carry forward of unused deductions indefinitely.
• Investors can offset capital gains with carry forward losses from cost segregation.
• Understanding tax code changes can unlock new opportunities for deductions.
• Engaging with a tax preparer is crucial for maximizing tax benefits. Accelerated depreciation allows for significant tax savings in the first year.
• Depreciation recapture is not as daunting as it seems; it can be managed effectively.
• Cost segregation studies can be done at any time, even for properties owned for years.
• The process of cost segregation involves a detailed analysis and site visit.
• Investors can save substantial amounts by understanding the value of their assets.
• Unique asset classes like car washes can yield high depreciation benefits.
• The cost of a segregation study is often outweighed by the tax savings it generates.
• A thorough benefit analysis is crucial before engaging in a cost segregation study.
• Investors should consult with tax preparers to maximize their deductions.
• The IRS allows for missed depreciation to be claimed in the current tax year without amending past returns.

Connect with Erik Oliver

🔍 LinkedIn

🌐 Website

📧 Email