smart real estate

Chris Prefontaine – Smart Real Estate Investing: How It’s Possible to Build a Rental Property Business without Banks or Your Money (AoL 155)

If you’ve ever read the book Rich Dad, Poor Dad, you probably know that the author, Robert Kiyosaki gained his wealth in Real Estate Investing (REI). Since the release and rise of popularity of the book, there’s been all kinds of methods revealed to the general public about how to make passive income.

There are two passive income quadrants: Investing (I) and Business (B).

When it comes to passive income, we’re usually thinking of the B quadrant.

For example, most of us are familiar with the thought leader approach. They create content, develop a tribe, and provide services or products to that tribe to help them achieve more. The larger the tribe, the more potential one has of making a good income.

Yet others might be more familiar with drop shipping through eBay or Amazon. Pretty much the same idea, but instead of developing your own tribe, you sell to the customers on those sites. Because of that, you have to share a percentage of what you earn with the company.

A hybrid of both of these is using Facebook ads to get your name out there to Facebook users so that they can convert in your sales funnel.

As for the I quadrant, it tends to stay off limits to most people who are seeking passive income.

Mainly because most people think that to work in that quadrant, we have to have money available to invest.

Truth is, that’s not necessarily the case.

In fact, today’s guest, Chris Prefontaine, has one of the coolest systems I’ve seen to help people develop wealth in the I quadrant.

In this session of the AoL Podcast, Veronica and I learn how it’s indeed possible to build a passive income portfolio without using money from banks or our own pocket.

Enjoy!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • What did Chris learn from being around his dad’s business growing up? 9:06
  • What are some of the benefits in having a family owned business? 10:17
  • How does Chris enable those in his business to succeed? 11:30
  • What’s his perspective on helping charities with a new business? 12:44
  • How was getting started in Real Estate Investing (REI) different than it is today? 15:01
  • What are some strategies he recommends for people just entering the market or already have holdings and don’t know what to do next? 20:31
  • Is there a way to prep oneself for another recession? 22:37
  • What does it means to buy and sell on terms? 23:58
  • What’s Chris’ advice when it comes to working with agents as an Real Estate Investor? 30:49
  • Is there ever a good time to get into commercial real estate investing? 32:00
  • What’s the day to day operation look like when you have to hang onto an investment property for years? 34:03
  • Is there a good way in keeping up with all the laws, ordinances, and taxes? 35:32
  • What’s Chris looking forward to in the not too distant future? 37:21
  • What podcasts have influenced or inspired his own podcast? 38:33
  • What’s a book, film, and song he’d add to the national curriculum? 39:45
  • Is there something he’s learning about right now that he’s looking forward to implementing? 40:49
  • What’s one thing every high school student must know? 41:32
  • How can someone be a difference maker in their community? 41:51

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

Right click here and save-as to download this episode to your computer.

SHOW NOTE EXTRAS:

What does it take to Crush It in REI?:

How to Communicate with Buyers

Deal Structure Sunday: Part of the SREC Origin Story

SREC Podcast Episode 103 with Mike Makredes


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherPodBean, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

balanced lifestyle

Damion Lupo – Don’t Live to Work! Discover Your Own Balanced Lifestyle (AoL 125)

The saying goes, “If you can do it once, you can do it again!” This is especially true for us creative types who might see success with one project, but on our next, we might start seeing our metrics go down.

This session’s guest, Damion Lupo, once owned 150 single family houses as as a real estate investor. But in 2008, everything came to a grinding halt. He was no longer able to live the lavish lifestyle that he was pursuing at the time.

It was soon after that he started on a quest to put more meaning into his life.

In 2012, he coauthored a book called Reinvented Life, where he talks about many of the things he learned during that journey.

In today’s chat, we go over some of these concepts as well as some pointers that he’d give someone just starting in investing.

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How did Damion become so resilient as an entrepreneur? 6:36
  • How does he see wealth and how can abundantly thinking people reach out to others? 10:22
  • What’s his thinking behind financial freedom and retirement? 12:23
  • Why entrepreneurs might not make the best investors. 20:20
  • If someone has a $5,000 – $10,000 to invest in something, what’s a good strategy to get started? 27:41
  • What’s the best way for someone to find great opportunities in REI? 33:28
  • What are the pillars of Yokido? 37:05
  • What does Damion believe about Elon Musk’s perspective on having a universal income? 43:45
  • Who are the three influencers that has helped Damion get to where he’s at? 51:21
  • What’s an issue that more people should be talking about? 52:01
  • If Damion woke up tomorrow as a 10 year old and all his memories were intact, what would he do? 53:17
  • Something he’d like to do in his lifetime that no one knows about? 54:18
  • What’s the secret to achieving personal freedom? 54:54

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Yokido is Born

The Financial Freedom Formula

Damion on the Bigger Pockets Podcast

Damion Interviewed by Dom Brightmon


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

best places to invest in real estate

Kevin Bupp – Investing in Mobile Home Parks: Are They the Best Places to Invest in Real Estate? (AoL 124)

In this session, we’re continuing on with our education about the real estate investing (REI) world. Again, REI is something that a lot of us online folks are familiar with. Mainly because one of the most recommended books about passive income was written by Robert Kiyosaki. It’s no mystery that he made most of his income through REI.

As we’ll be reminded in today’s conversation, you can get started at any level. Ideally, you’d be able to put your own money to work for you just like Robert suggests. However, if you don’t have the resources, you can find opportunities for people who do.

These are a couple of the ideas that today’s guest, Kevin Bupp talks about.

Kevin has seen it all. Starting nearly 20 years ago, he went from single family homes to owning all kinds of property.

Today he focuses on one type in particular – mobile home parks (Or better yet, manufactured housing communities).

Why? Listen in to find out!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How’d Kevin first get into real estate investing? 10:03
  • How did he get started with his first property? 13:39
  • Should people new to real estate investing focus on wholesaling or buying to produce recurring revenue from the property? 14:44
  • Why did Kevin start investing in mobile home parks? 17:23
  • Where can someone do research to learn more about doing REI with mobile home parks? 20:53
  • How does Kevin alleviate the problem of tenants not paying on time in his parks? 27:48
  • What would Kevin of today tell himself back in 2000 to invest in if he only had $5000 to $10000 initially? 33:14
  • If someone wants to bring opportunity to someone like Kevin, what kind of property should they be on the look out for? 35:16
  • How can someone find those opportunities for established real estate investors? 36:51
  • Could someone develop their own mobile home park? Why might it be a good or bad idea? 38:42
  • Is there any trend in tiny home parks starting up? 41:15
  • How important is it for Kevin to give back to his community? 42:34
  • What’s Kevin looking forward to in the future? 44:53
  • Who are the 3 most influential people in his life? 46:06
  • One gift he likes giving others? 46:56
  • What’s Kevin looking forward to in the future? 47:15
  • How can someone be a difference maker in their community? 48:24

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Kevin on BiggerPockets

Interview on the REI Foundation Podcast

Kevin on Rod Khleif’s Show

A Taste of 72 Hours to Key West


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

investing basics

Whitney Nicely – Real Estate Investing Made Simple: Learning the A, B, C’s of Investing Basics (AoL 123)

If you’re an entrepreneur who’s making money passively or you’re simply interested to do so, there’s a good chance you’ve read a book called Rich Dad, Poor Dad by Robert Kiyosaki.

I remember when I read that book back in 2002 – it was an eye opener. I couldn’t put the book down. Since then, it’s one of the books I’ve bought whenever I see on sale so that I can give it to other people when I see them struggling to get ahead.

What’s cool is that this particular book isn’t the only one that Robert has written. And if you spend any time reading those other books, you realize that he made a big part of his fortune early on in Real Estate.

Today’s guest is on the same path. After starting in 2013 being paid $24k a year, she now does that in a month. In fact, she actually owns more than $2.5 MILLION in real estate assets!

Personally when I saw that she’s in the business of helping others do the same, I had to jump at the chance to get her on the show.

In our chat, we talk about getting started in real estate investing and some of the common pitfalls that newbies make when they’re getting started.

If you’re thinking about getting into the investing game and not sure where to start – real estate might be a good choice.

Listen in to find out!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How did Whitney get started in real estate? 7:26
  • Where can people find real estate auctions to attend? 10:35
  • When did she believe that she could leave her 9 to 5 position to do real estate investing (REI) full time? 12:10
  • What’s some good advice that she’d tell someone first starting out? 14:55
  • What’s the process in finding a property to possibly buy as a someone starting out? 17:48
  • What are some mistakes that she’s see newbies make in REI? 19:31
  • How does someone scale their real estate business without getting over consumed by responsibilities? 23:20
  • How can someone find an apartment complex to buy if they have the means to? 26:35
  • What are some emotional pitfalls that can happen when you’re a landlord? 29:31
  • What’s a good strategy to use when you’re looking for places to invest in? 34:48
  • What’s she looking forward to in the near future? 37:00
  • Who are 3 influencers that have helped her get to where she’s at today? 38:42
  • Is there something that she believes is going to affect entrepreneurship or REI in the future? 41:45
  • What’s an issue that people should be talking about yet hardly anyone is? 43:17
  • Is there something that all high school students must know? 44:24
  • What’s it mean to live a life of abundance? 45:44

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Strategies to get Started:

Why Women are the Best REI’s:

Blissful Buy and Hold Houses with Moneeka Sawyer:

What’s Whitney’s Course About?


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

how to get bitcoins

How to Get Bitcoins: A Beginner’s Guide to Cryptocurrency

Naturally, I’m an investor. Going through my 20’s and now my in my 30’s, I’ve always tried to find things to pour money into that over time would yield me a larger income.

I think I started this way back in my teen years when I played video games that allowed me to buy ingame property that would continue to give me money over time after buying it.

Thinking about that, I believe what pulled me into reading Rich Dad, Poor Dad was that I could understand what Robert Kiyosaki was talking about. However, I made a dead stop when he said that you need money to be an investor. And that the smart way to build up that money is through building a business system.

At the time I was a college student, and I didn’t really have spending money as what I earned was going to pay my tuition and rent.

So, I put the idea on hold and continued my formal education – eventually wanting to come back to investing – someday – when I had that spare money!

 

Someday Happened

Soon after I got out of grad school, some of you might know that I got involved with a series of startups. One thing that you probably don’t know is that I when my mom passed suddenly in 2010, I got a significant inheritance. With that inheritance, I was able to 1.) help get those startups going a bit more and 2.) learn more about and improve myself as a person. One of those startups is America Multisport where Maria and I still contribute to in several forms – including this past weekend where we’re always found at the events taking pics.

I full heartedly believe that it’s been because of this inheritance that I’ve had the luxury of time where I’ve been able to learn about topics that most people don’t get the chance to learn about. I understand what it’s like to live paycheck to paycheck because that’s how I lived all throughout my college years – you just don’t have time to really explore.

And, that’s kinda the point of this site; it’s to give you all insights into what I’ve learned along this journey! (Thanks to David Anderson for helping me realize I needed to tell you guys about this part of my past. I haven’t really known what to do with that information.)

 

Be Prepared…

Anyway, knowing that someday that I would get an inheritance – albeit I didn’t know it would be so soon and as big as it was – I had to be prepared. I knew what I wasn’t going to do with it – blow it all away like some who just won the lottery might. However, I also knew that I wasn’t going to be a miser and just sit on it either.

I was going to invest it into long term, mid term, and short term options.

So, looking back, I ended up with these choices:

  • Long term investments were annuities, index and mutual funds.
  • Midterm investments included the startups and individual publicly traded stocks.
  • And short term investments included CDs and… cryptocurrency.

 

Yes, I know – I need to get involved in real estate. I’m simply not at that point yet!

Here’s a tip – if you ever find yourself with a large sum of money, the worst thing you can do is let it just stick around as a liquid asset or spend it. Make sure you get it invested correctly so it can continue to grow for you. This is the biggest difference between those that earn a lot and live well for the rest of their lives versus those that earn a lot and end up broke.

So about cryptocurrency…

 

What the heck is Cryptocurrency?

Cryptocurrency is simply a form of currency that is purely “internet money”. Wikipedia defines it as a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Ever since I heard about Bitcoin in 2009, I knew I wanted to get started – but I had no idea how. At that time, the best way to get started was to be a miner – but I didn’t know where to look to even begin with that.

That’s where I stood for quite awhile – until I started hearing how much of the world is really starting to pay attention to Bitcoin as a low barrier way to invest – similar to investing in gold or silver.

Remember what Robert said about investing? He said that investing was for people who already had lots of money to invest, right?

Well, while this might be true for most investment situations, it isn’t necessarily the case for cryptocurrency – Bitcoin included. In fact, you can start investing with as little as a few dollars here and there and start a pretty good ball rolling. (In fact, that’s about as much as you’d want to use in one sitting because really – this market is highly volatile – it goes up and down quite regularly. So only spend “Las Vegas” money when you’re getting more.)

Unlike stocks, you can buy fractions of a Bitcoin. So instead of sinking a certain amount on one share of TSLA stock, you can use that same money to invest in different forms of cryptocurrency – and as low of dominations as you like.

 

Forms of Cryptocurrency

how to get bitcoins

You’ll see in the above image, I’m participating in 3 cryptocurrencies in this portfolio: Bitcoin, Ethereum, and Litecoin. There are of tons of them out there. (Just to note – I started this account back in May and only bought $25 per currency. So not bad performance thus far!)

Here are 6 you should know about. But there are many more.

Here’s Wikipedia’s collection where you can find out more about them including Dogecoin.

Here’s the thing. There are some that are regulated. And there are some that aren’t as much. Stick with the ones that are regulated such as the three above – and you’ll be good to go.

Wallets

The above image is from a wallet called Coinbase.

I’m currently checking it out as an alternative to where I’m currently keeping mine: bitpay.

Before you buy your first “crypto-coinage”, you’ll need a wallet to keep your stash. Again, just like cryptocurrencies themselves, there’s plenty of options to choose from. And just like anything else, there’s yearly writeups in which is “best”.

So far I like Coinbase and while bitpay is open source, I like Coinbase’s ease of use.

 

Using Your Funds

So sure, you can save your crypto-coins indefinitely just like you can with traditional stocks. The difference is you’re allowed to use them for payment as well.

In fact, more and more businesses are starting to accept Bitcoin online and offline. SpendBitcoins  & Spendabit has list of places that accept Bitcoin around the world.

Here’s a long list just in case you wanted to see more examples at once. Or if you want a short list of 8 major retailers – here you go.

And for us creative folk, there’s a specific reason we should take interest in cryptocurrencies. We can use them to pay your VA’s around the world. Just make sure that they can get a wallet tied to an account where they can retrieve their payment! 😉

 

Action Steps: Getting Started Yourself

So now that you know theoretically how these cryptocurrencies work – how do you get started again? Here’s how:

  1. Find a wallet. Perhaps go with Coinbase if you’re in the US. Seems to be pretty straight forward. It reminds me a lot of Paypal.
  2. Setup payment methods. Just like Paypal, you’ll need to connect and verify payment methods. Paypal is an option itself.
  3. Buy any or all of the three options there. (If you want to get more options – you’ll need to find another wallet! Just make sure they’re “on blockchain”.)
  4. Buy low/sell high if you’re in it for prospecting.
  5. Spend as you see fit – knowing that the banks aren’t following your buying habits!

After you’ve gotten started, keep learning about the future of this technology called blockchain. If you’re really into tech, here’s an article I picked up via Wired that dives deeper into that side of things.

If you want to go at a more conceptual level, here’s two great TEDx videos I saw last year:

How the blockchain is changing money and business

How the blockchain will radically transform the economy.

And be sure to keep me posted as you discover more about cryptocurrency and blockchaining. It’s really interesting how it’s developing and changing!