JC 049: The Competitive Lender with Lindee Flater

August 8th, 2018 | no comments

Exploring the Intersection of Sports and Business

Lindee Flater was born competitive. In this episode, we go behind the scenes with Lindee to understand a typical, commercial loan transaction. She explains how lenders are conservative by nature and how you have to look at every deal from both the lender and borrower’s viewpoint. Lindee also shares her experience running a single-family, fix and flip business and how it helpers her better service her clients in the financial industry.

Lindee prides herself on always being in the mood to compete. Being competitive is something she was born to do and was a four-sport athlete during school. Her fierceness on the field transitioned to her profession in commercial lending with a work ethic and determination to deliver results.

Lindee is the Director of Lender Relations at Pinnacle Financial Group, Inc, a business that provides a full range of receivable management services for the commercial and consumer marketplace. Lindee has fifteen years of experience working with investors, developers, and institutional capital sources. She holds a B.A. in Finance from the University of Northern Iowa with a focus on Real Estate.

Five Key Points:

  1. The biggest hurdle a borrower has is realistic expectations.
  2. Educating borrowers from day one makes the transaction run smoother.
  3. You have to know both sides: Understand where the market is on rent and know where the market is on sales.
  4. Establishing a daily routine helps with work-life balance.
  5. The more disciplined you are with your routine, the more free time you will have in your life.

Favorite Athletes:

  • Michael Jordan, Chicago Bulls Superstar

Favorite Sports:

  • Volleyball, Track & Field, Basketball, Softball

Pro tip:

  • Real estate is an instinct game. It’s not science, it’s an art. Never doubt yourself and go after it.

Reach Out to Lindee Flater:

Thank you Lindee for taking the time to share your expert advice on facilitating lending transactions.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
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© John Carney 2018

JC 048: Wheelbarrow of Profits with Gino Barbaro

July 25th, 2018 | no comments
There is no such thing as an overnight sensation

Gino Barbaro is an entrepreneur and real estate investor. Gino and his partner Jake Stenziano, co-founded Jake & Gino, LLC, a real estate educational company that provides real estate training and coaching for investors. He has over 15 years experience in the real estate industry, owns and manages 900 units valued over $51 million and is the best-selling author of Wheelbarrow Profits.

Gino spent 25 years running a pizza restaurant prior to pivoting into a successful career as a real estate investor. The pizza shop taught him how to manage a small business and that experience allowed Gino to identify the perfect partner and build a portfolio apartment communities.

In this episode of the Real Estate Locker Room, Gino talks about his life before he became a real estate investor and how the business lessons that he learned running a small pizza restaurant helped him build a multifamily real estate company.

Gino shares how he and his partner Jake met and how they entered the apartment building market. Take notes as Gino discloses all of his trade secrets to successful multi-family investing. You will learn the importance of building rapport and establishing networks in the real estate industry and why there’s no such thing as an overnight sensation.

Five Key Points:

  1. Real estate is a relationship-based business.
  2. Once you know the reason why, start looking for mentors. Follow their roadmap and learn the ins and outs of the multifamily industry.
  3. Nobody is an overnight sensation; they grind, they work, they miss important events to get to where they are.
  4. A mentor is such an important team member because they guide and oversee the business from a wider perspective.
  5. Acting as a sub syndicator allows you to raise money for somebody else’s deal.

Favorite Athletes:

Favorite Sports:

  • Baseball

Favorite book:

Pro tip:

  • Surround yourself with like-minded individuals and join mastermind groups to achieve more success in your industry.

Reach Out to Gino Barbaro:

Thank you Gino for taking the time to share your thoughts on how to successfully build a multifamily real estate business.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 047: Achieving your business goals with Jim Leonard

July 15th, 2018 | no comments

Goals require daily action

Jim Leonard is President and co founder of Pinnacle Financial Group, a financial services company that provides the best possible loan terms available in the market for their clients.

Jim has more than three decades of experience in the mortgage banking industry. Pinnacle is known for transactions that include non-recourse, long-term permanent financing, acquisition and redevelopment loans, and equity placements.

In this episode, Jim shares the success story behind Pinnacle and how they worked to scale the business to where it is today. Learn the methods Jim and his team use to secure lenders, how they research property owners (prospective clients), and the difference between growing a business then and now. Turn up the volume when Jim shares his best tips for goal setting, cash flow and knowing what to look for in a great real estate deal.

Five Key Points:

  1. New investors have it easier or harder starting off depending on where we are in the credit cycle.
  2. A good deal is buying something and fixing it up and the property ends up being worth more than what you paid for and the cost to improve it.
  3. Focus on the cash flow. How much you can rent it for and understand the expenses to operate the property.
  4. Nothing you do is mutual. Action either takes you to your goals or farther away from them.
  5. Numbers are good, but knowing your competition and neighborhood is better

Favorite Athletes:

  • Johnny Bench, Cincinnati Reds
  • Francisco Lindor, Cleveland Indians

Favorite Sports:

  • Soccer, Baseball, Basketball

Favorite book:

Pro tip:

  • Write down your goals. It doesn’t matter if they’re short term or long-term goals. Write them down so you never forget.

Reach Out to Jim Leonard:

Thank you Jim for sharing your process for achieving goals and how to identify a great real estate opportunity.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 046: How to Own Your Business with Joe Evangelisti

July 6th, 2018 | no comments

Your business must be able to operate without you

Joe Evangelisti is the founder of The Flip King podcast that serves to improve the skills of both new and veteran investors as well as Operator to Owner, a platform that allows business owners to sign up for seminars, mentorship programs, leadership courses and training.

Joe has flipped over a thousand houses and is no stranger to seven-figure contracts. He couldn’t have done it by himself and credits his team for enabling him to succeed in ways that he would never have been able to attain had he continued to work solo.

In this episode, Joe dives into what it takes to elevate your business to the highest level. He shares his experience as a solopreneur and why he eventually formed a team. Joe explains the importance of taking the leap on their first hire and how that person will greatly impact the way you run your business. He also provides pro tips and strategies on what to look for in a new employee and how to get yourself in the productivity zone every day.

Five Key Points:

  1. Your business must be able to operate without you.
  2. Don’t be afraid to take a risk on someone or invest in the right people.
  3. Hiring employees can help you work on the business instead of within business.
  4. Each company grows differently; there’s no cookie-cutter system that helps every business scale successfully.
  5. The right employee should double or triple what you’re paying them within the first three months.

Favorite Team:

Favorite book:

Pro tip:

  • Wake up early, have a morning routine, and get yourself ready for the day ahead.

Reach Out to Joe Evangelisti:

Thank you Joe for taking the time to share your expertise on how to transition from business operator to business owner.

You can tune into all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 045: How to be the #1 Realtor in the World with James Wise

June 13th, 2018 | no comments

Grinding from the skate park to a $50 Million portfolio

The Real Estate Locker Room Show with John Carney EP 045 - James Wise James Wise is the Co-Founder of The Holton-Wise Property Group, a full service, real estate brokerage that operates in the Cleveland area. They support local homeowners in finding buyers and sellers as well as promoting Cleveland to international investors. Aside from being great at managing his business, James is known for his selling and underwriting of commercial and residential investment properties. But, the best testimony to his skills is how he ranks as the number one realtor in the world, as per the MLS stats, when it comes to multifamily and commercial property selling in Cuyahoga County (Cleveland).

In this episode, James shares his thoughts on what it takes to not just start a real estate business, but to scale it to the highest level possible. James talks about his life before he got into real estate, how he met his partner, and the strategy they implemented that made everything work for their business. James also explains what it means to be number one and why you should never stop being the best in real estate industry.

Five Key Points:

  1. Real estate is a scalable business and you must own multiple properties. Twenty properties are great, but you can’t buy a boat with it.
  2. Think of real estate as a fire. Your income and your job are the gasoline to pour into the fire.
  3. Expensive contractors charge that amount because they are better and are able to take things off your table.
  4. Spreadsheets are important, but real estate is a people-business. There are things that your spreadsheets can’t predict or prepare you for.
  5. When you’re just starting out, you spend all your time getting into rooms with people. When you’ve grown, it will be people trying to get into a room with you.

 

Favorite Athlete:

  • LeBron James, Cleveland Cavaliers / NBA Superstar

Favorite Sport:

  • Skateboarding

Favorite book:

Pro tip:

  • Take a look, observe how others in the business do it. Take what you like and throw awaywhat you don’t like.

Reach Out to James Wise:

Thank you James for taking the time to share your advice on what it takes to be #1 in the real estate industry.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 044: Multifamily Underwriting 101 with Omar Khan

May 30th, 2018 | no comments

Investing is a team sport

JC 044: Multifamily Underwriting 101 with Omar KhanOmar Khan is a manager at the Dallas, Texas private equity firm Boardwalk Wealth. Boardwalk provides international investors with a way to place money in US multifamily real estate properties.

Omar is a successful investor with over a decade of experience. He has advised over $3.7 billion worth of capital financing and mergers and acquisitions transactions. Omar is considered an expert in capital markets and strategic planning by his peers.

In this episode, Omar shares how he determines the value of an apartment building before entering into a purchase contract. He explains the process of underwriting as well as what it looks like from the viewpoint of an investor and a lender.

Omar and John dive into the details of CAPEX, upgrades, and how to factor them into his elaborate equation. Omar explains how to manage the time from vetting until closing the deal. He shares the common mistakes that most investors make before, during, and after a deal and offers up the “must do’s” to prevent them.

 

Five Key Points:

  1. You don’t have to be the most gifted person on a team, but make sure you outwork everybody.
  2. It’s critical to understand the track record of the people you work with.
  3. Investing is a team sport – you shouldn’t be doing everything yourself.
  4. The clock starts when an asset is under contract.
  5. Don’t overpay.

 

Favorite Athlete:

Favorite book:

Pro tip:

  • Don’t be in a hurry to get into a deal, especially a deal with the wrong people.

Reach Out to Omar Khan:

  • Email: Omar@boardwalkwealth.com

Thank you Omar for taking the time to share your expertise on how to value and underwrite multifamily deals.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 043: Mindset and Staying Power with Tim Bratz

May 23rd, 2018 | no comments

From a maxed out credit card to $85 Million

The Real Estate Locker Room Show EP 043 Tim BratzTim Bratz is the Owner and President of CLE Turnkey Real Estate, a real estate business that buys, renovates and holds apartment buildings and short-term vacation rentals in Ohio, South Carolina, Florida, and Georgia. Tim founded the company when he realized the long-term benefits of holding a solid real estate investment versus being on the sales side as a commercial real estate agent

As a former real estate agent, Tim already had valuable knowledge as to how the real estate industry works. You locate a property, look for a buyer, and receive a commission when the papers are all signed. Tim quickly identified that being the owner of the property was the path to establishing true wealth. He set his sights on the multifamily industry when he learned that apartment owners earn thousands of dollars a month passively.

His quest for success as a full time real estate investor started with the cheapest property he could find and a maxed out credit card. Tim sought out mentors, developed a plan and now owns 1,175 rental units with a portfolio values estimate at $85,000,000.

In this episode, Tim talks about his career before he became a full-time investor, who inspired him to become an apartment investor, the challenges he faced along the way and how the first deal changed his life forever.

Five Key Points:

  1. There’s no way to gain all the real estate knowledge without doing the activity.
  2. Buy as many properties as much as you can, as long as it cash flows.
  3. Being through the grind is a lot of work and super stressful, but it makes you a better steward of capital.
  4. As sexy as numbers look on paper, some profits do go right back to the property.
  5. Just because something’s listed for a certain price doesn’t mean it’s going to sell at that price.

 

Favorite Athlete:

Favorite book:

Pro tip:

  • Ninety-five percent of life is mindset. Knowing where you want to be and creating a roadmap to get there is essential.

Reach Out to Tim Bratz:

 

Thank you Tim for taking the time to share your success story and expert advice on apartment investing.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 042: Understanding The Reverse Mortgage with Ray Antonelli

March 28th, 2018 | no comments

Success, Motivation and Thinking Big

Ray Antonelli is a Senior Mortgage Loan Officer for Nations Lending where he leads Credit and Reverse Mortgage education programs. He’s a seasoned credit expert, author, real estate coach, and reverse mortgage specialist.

Ray’s a business networking heavy weigh and listed as one of LinkedIn’s Top 100 Real Estate Mortgage Pros due to his contributions to the community as well as vast network and professional connections.

In this episode Ray discusses how seniors benefit from reverse mortgages. He defines the reverse mortgage, its point of difference from other loans, as well as the cash flow benefits.

Ray finds motivation by helping others and providing seniors with sustainable source of cash flow through reverse mortgages. He teaches people to improve / repair their credit score, the do’s and don’t of reverse mortgages as well as other real estate related courses that include live training and webinars.

Five Key Points:

  1. Reverse mortgages are designed to help seniors stay in their homes as long as possible.
  2. The bank does not want the house, they want to get paid for the mortgage.
  3. A reverse mortgage helps seniors avoid going into debt.
  4. The home equity line of credit (HELOC)  is just like any other loan you have to repay.
  5. Funds from reverse mortgages are sutable for almost any purpose except annuities.

Favorite Athlete:

  • Jim Brown – NFL Hall of Fame / Cleveland Browns superstar

Favorite book:

Pro tip:

  • The world is full of educated derelicts. Only the most motivated people are able to succeed.

Resources Mentioned:

Reach Out to Ray Antonelli:

Thank you Ray for taking the time to share your expertise on reverse mortgages.

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 041: Lead Generation 101 with Tom Cafarella

March 7th, 2018 | no comments

How to find sellers in any real estate market

Tom Cafarella is a real estate investor, coach and the owner of Ocean City Development, a real estate firm that puts the needs of their clients first. Before becoming a real estate investor, Tom was on track to becoming a doctor, a profession he chose because it was the most lucrative at the time.

Tom was focused on completing his medical degree when he picked up Robert Kiyosaki’s “Rich Dad, Poor Dad” audio book. He realized that his career path in medicine wasn’t the right fit for him. Tom quickly pivoted, changed degrees and turned his attention to business and accounting. His post college accounting career path was short lived when he was fired for daydreaming (researching real estate). Tom jumped into the real estate game and began taking massive action to make ends meet.

In this episode, Tom shares the story about his entrepreneur’s journey into the real estate industry and the many obstacles that he had to overcome along the way. He drills into why it’s important to do what you love and why you shouldn’t lie to yourself when it comes to choosing a career. Tom reveals his tricks to finding qualified sellers as well as provides examples of how to always stay one step ahead of the competition.

Three Marketing Strategies for Real Estate Lead Generation

  1. Mailers – Be consistent. 3000 to 10,000 letters to get that one big deal.
  2. Cold Callings – Build a list and continue to call your database.
  3. Internet – Google pay-per-click and Facebook adds. Hire a professional.

Five Key Points:

  1. The harder the task, the less competition you will have.
  2. The first step in a new venture is always the hardest.
  3. Our number one job as investors is to find opportunities and take advantage of them.
  4. There’s no direct career path to real estate investing and that is why guidance from a mentor is necessary.
  5. Most new investors make the mistake of having a preconceived notion of what it should take to get a good deal

Favorite Sports:

  • Basketball and Football

Favorite Athlete:

Favorite books:

Pro tip:

  • Prioritize your time and complete the hardest task for the day first.

Reach Out to Tom Cafarella:

Thank you Tom for taking the time to share your expertise on finding properties ahead of the competition.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at http://www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018

JC 040: Cash Flow, Deals & Partnerships with Joe Orlandini

February 28th, 2018 | no comments

Accelerate your business with the perfect partner

Joe Orlandini is a founder and partner of J&J Real Estate Holdings. J&J is a Phoenix-based, owner-operated, real estate investment company, specializing in long-term cash flow properties.

They acquire and manage single-family homes, apartment buildings and mobile home parks. Through proven acquisition strategies and sound management, J&J locates and transforms undervalued and distressed properties into rehabilitated assets, generating recurring income for its partners.

Joe first learned about real estate from his father who was an investor in Phoenix and East Los Angeles. Much of his youth was spent alongside his dad where he got to experience what it was like to be a real estate investor as well as the hard work required to be successful.

Prior to cofounding J&J Real Estate, Joe worked for a national property management company where he learned the skills to implement strategic capital investments, increase income from rent and how to reduce operational expenses when operating investment properties.

In this episode, Joe talks about why partnering is critical when growing a real estate business. He cites many of the reasons why partnering is mutually beneficial, as well as how fast a business can accelerate with the right partner(s). Joe shares his business goals and strategies, and explains why J&J pivoted from single to multi-family properties and eventually focused on mobile home parks.

Tips for Finding the Right Partner in Business:

  • Find a partner who operates in the business you want to work in.
  • Be patient with the person you choose to partner with.
  • The best partners are someone you can learn from.

Five Key Points:

  1. Keeping yourself grounded to the principles that helped you get started will ultimately keep you on track for success.
  2. If you’re not paying attention to your smallest details, then larger details will also go unnoticed.
  3. Stay motivated and keep hustling.
  4. If you’re happy in your life and stay positive, it will pay dividends.
  5. Finding a partner is one of the biggest decisions you will make as you grow as an investor.

Favorite Sports:

  • Basketball, Football, and Working Out

Favorite Athlete:

Favorite books:

Pro tip:

  • There is no shortcut to success in real estate. Nothing beats hard work, experience, and putting in the time.

Reach Out to Joe Orlandini:

Thank you Joe for taking the time to share your success story and advice on how to find the right partner to grow your real estate business.

Listen to all the episodes of The Real Estate Locker Room Show and sign up for my FREE monthly newsletter at www.johncarneyonline.com

Connect with John Carney
Facebook: @JohnCarneyOnline
Twitter: @John_M_Carney
Instagram: @johnm_carney

© John Carney 2018