Devin Redmond has acquired, developed, and managed investment property both professionally and personally across Northern California since 2005.
He is currently Head of Customer Success at Stessa, a free software platform that gives the millions of real estate investors with single-family rentals and multifamily buildings a powerful new way to track, manage, and report on all of their properties in one place. Devin’s long-running love-hate relationship with Excel uniquely positions him to help end investors’ reliance on spreadsheets once and for all.
Tracking your properties income and expenses without pulling your hair out
Using an accounting system to prepare for loans and tax filings
Using automation to help prepare tax forms for your rental properties
Maintaining documents and keeping track of receipts
Stessa helps both novice and sophisticated investors make informed decisions about their property portfolio. Here’s what you can do with Stessa:
Track unlimited properties (single-family, residential multifamily and short-term rentals)
Access your portfolio from anywhere
Get performance dashboards at the portfolio and property level
Collaborate with partners & family
Automate income and expense tracking
Get bank-grade security to protect your data
Organize and store all your real estate documents
Track expenses on the go with the iOS app
Run unlimited monthly reports (income statement, net cash flow, capital expenses)
Get resources to help you scale and optimize
Export tax-ready financials (makes tax time a breeze!)
Stay up to date with the latest real estate news that matters for investors
Stessa.com – Free financial management software for investment property owners
Visit Audible for a free trial and free audiobook download!
Phone: +1 (415) 985-7837
Twitter: @stessaHQTest TEXT
As Keith Weinhold says, the abundance mentality is scarce, and the scarce mentality is abundant. This is so true. On the surface, this sounds simple. But we’re going to dive into this and explore how to live abundantly now. Even successful entrepreneurs and sophisticated real estate investors can lose sight of this.
I don’t want you to try to sacrifice, skimp, and shrink your way to wealth. In fact, it’s not even possible. But there’s something ingrained in our DNA that says to do those things. The basics we take for granted today haven’t always been so certain for our ancestors and even still a large part of the world today, like food, shelter, clean water, much less wealth, success, and a life of prosperity.
As a loyal listener of the show, you understand that you are capable of living a life of abundance. But are you living abundantly now? After all, that is the point. If not now, then when?
A life of abundance doesn’t start once you’ve “made it”. It doesn’t start after you’ve become successful. It starts today. Living abundantly is just as much a mindset as it is a lifestyle.
In particular, real estate investors tend to be guilty at postponing the abundance mentality under the premise of saving for that next deal and building an empire.
How to Live Abundantly
Live abundantly now. Embrace the abundance mentality in your day to day life. If you start thinking abundantly, you will start acting abundantly, and then you will live abundantly. Let’s look at some ways in which you can live abundantly now.
Reward yourself for small wins. Every time I close on a new rental property, I go on a short trip.
Livin abundantly doesn’t have to be extravagant. You can live abundantly and not break the bank. For example, you could take a mid-week getaway to remind yourself of what having freedom feels like. Want to explore a local national or state park? Pick up and go do that. By doing the things you like, you’re reminded why it is you work so hard towards building a life you want.
Another way is to go to conferences. I know this may sound strange. At conferences, you network with all different types of people, who can remind you that there is so much success in the world. So next time you see that conference advertisement, go check it out.
Living abundantly doesn’t necessarily mean posting videos of your 3 different supercars, taking luxurious vacations, or donning a collection of expensive watches. Living abundantly can mean living a life you want without any limits. Think abundantly. Act abundantly. Live abundantly. But don’t stop there. Encourage others to do the same. Not everyone shares this mentality. Remember, the abundance mentality is scarce. It’s up to you to create a life of abundance for yourself. Remember, there is no ceiling to success. So get out there and engineer a lifestyle you deserve filled with abundance.Test TEXT
Damion Lupo’s real estate investing career began almost 20 years ago when he bought his ﬁrst rental income property with a Visa card and a $6,000 cash advance. Damion went to every seminar he could ﬁnd and did everything the coaches told him and still ended up almost declaring bankruptcy because he was doing the fun stuff, but not the hard work.
He flipped a switch, did the work it took to be successful and in the next 5 years built up a $20 million portfolio with 150 properties including houses, apartment buildings and condos, but lost everything in the 2008 crash.
Damion rebuilt his investing career and went on to become a sort of genetic entrepreneur™, having started and owned more than 35 different businesses. He’s also the world’s most unemployable man™.
Damion’s role in the real estate industry today is as a lender where he can live the lifestyle he wants while building his wealth and advising the investors he partners with.
Living with intention and focus
The Qualified Retirement Plan – what it is and how it can help you
Roth vs. Traditional accounts – which is best for you
How to have checkbook control of your 401(k)
Determining the right investment vehicle for you
How to avoid the dreaded Unrelated Income Business Tax (UBIT)
The eQRP Company
Connect with Damion on LinkedIn
Text “QRP” t0 72000 for a 13-page guide to the QRPTest TEXT
Spontaneity, adventure, and excitement are things that we crave. Then, on the other hand, we also want predictability, stability, and security. We’re fickle beings, I tell ya! Today we’re going to drill down on predictability. There are certain areas of life we want to be able to predict and have control over – like health, wealth, and happiness. As much as we want to be able to control the future, we all know there are things that are simply out of our control, completely unpredictable, and have the ability to shape our future.
When we make plans or set goals, there are always twists and turns in the road. No matter how much we prepare, plan, and organize there are always unforeseen events. Events in this context could mean anywhere from political impacts, tax changes, and economic uncertainties, all the way down to personal habits and reactions, psychology, and the ever happening “life” getting in the way. For the most part, we cannot control what events happen to us. But what we can control is the outcome of those events. Now you may be thinking, “How can I control the outcome of events that are out of my control?”. Great question.
I wish I could take credit for this simple yet profound formula. This comes from a book called “Wealth Can’t Wait” by David Osborn and Paul Morris. In the book, David and Paul layout a simple formula that is:
Event + Response = Outcome
Events, as we just defined and provided some examples, are things that happen to us. From minor events to life-changing ones, there are constant things that are happening to us that affect our outcome. But these events alone are not the only part of the equation. In fact, events aren’t even the most important variable. Your response to the event is much more important in creating an outcome.
The Variable You Can Control
How you respond to an event is up to you. It’s the variable that you can control if you’re conscious about it. You have the ability to perceive an event any way you want. That could be positive, negative, or neutral. If you go around perceiving events as negative, then guess what? The outcome will be negative. But if you perceive every event as a positive or at least search for the positive in an event, then your outcomes will be positive. Let’s look at a few ways you can improve your response.
Look at events as temporary. No matter how good or how bad an event may be, it’s just temporary. That feeling you have to it will eventually change. Knowing this in the time of a negative event can help you move past it, look to the bright side, and produce a positive outcome given the situation.
Be optimistic. You have to perceive events as something, either positive, negative, or neutral. Why not choose positivity? Your outcomes will be positive, rather than negative or neutral.
Be conscious of your responses. It can be easy to react rather than respond. When you react, you are doing so automatically without considering the implications of your thoughts and actions. When you respond, you are doing so with intention.
Vinney, Mr. Smiles, Chopra, who I consider a great friend and coach, is one of the best practitioners of positivity. You may know him from his guest appearances here on the podcast. Vinney exudes positivity in everything he does. And guess what that gets him. He’s always happy and helping others, not to mention wildly successful. Imagine if Vinney instead exhibited a “poor me” attitude? He likely wouldn’t be where he is today.
Staying Above the Line
Not all events are positive. Unfortunately, there are negative events that do happen. But with every event, there is something you can learn from it, and that in itself is positive. You can’t avoid what would be negative events, no matter what you do. There will always be bumps and twists in your journey. That’s part of life. Learn to respond to those events in a way that will help you constantly learn and grow, continuing on your path to success. You are in control of your response, and in turn are in control of your own outcomes. So make the most of your journey. Push yourself outside your comfort zone, help others do the same, and build the life you want.
Linsdey Johnson currently serves as the President of U.S. Mortgage Insurers (USMI). USMI is the nation’s leading private mortgage insurance companies in the country. As president os USMI, Lindsey works with member companies to advance the value of private mortgage insurance (MI) to borrowers and taxpayers and to promote a sustainable housing ﬁnance system backed by private capital.
Lindsey previously served as a Director on PwC’s public policy team. Prior to joining PwC, Lindsey was a former member of the Senate Banking Committee staff as the Republican Staff Director for the Senate Banking Committee’ s National Security and International Trade and Finance ( NSITF) Subcommittee, and as a Senior Policy Advisor to Senator Mark Kirk ( RI Illinois ), focusing on noteworthy banking, housing finance reform, and insurance legislation.
Private Mortgage Insurance (PMI) – what it is and why it’s important to you
Low down payment mortgages – the 20% down payment myth
Conventional vs. FHA loans
How Government Sponsored Enterprises (GSEs), namely Fannie Mae and Freddie Mac, regulatory responsibilities are changing.
Mortgage Bankers Association
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