228: Value of Cash Flow with Ryan Smith

Ryan Smith brings with him more than fifteen years of extensive business experience in market evaluation, property analysis, management systems, due diligence, finance, and more. Mr. Smith and his affiliates co-manage multiple investment funds, which specialize in investing in manufactured home communities (MHCs), and participates in the ownership and/or management of over 20,000 MHC lots.

Ryan graduated from the University of Tampa with a Bachelor’s of Science in Computer Science. An athlete, he was highly recruited for both baseball and basketball and was drafted as a senior in high school by the Baltimore Orioles, and again in college by the Anaheim Angels. Ryan pursued his athletic talents by playing baseball throughout his college experience.

His foresight and ability to communicate the state of the marketplace has propelled him to be a featured commentator alongside the likes of Mayor Rudy Giuliani, General Colin Powell, and other notable individuals.  He currently is on the board of Young Life College – UCF and is a member of the Advisory Board for the National Christian Foundation’s Orlando chapter. Ryan lives in Orlando with his wife and two children.

Key Points
Why it is nearly impossible to earn yourself rich
Cash flow vs. the value of cash flow
Wealth creates income; income doesn’t create wealth
Focus on the lesser-taxed part of the income equation
Successful syndication secrets
The incredible value of a stigma – mobile home parks
Lightning Questions
What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
The biggest hurdles are what you don’t know. Ryan used his resourcefulness to clear many of those hurdles, and built relationships with people who he could look to for help. 
Do you have a personal habit that contributes to your success?
Ryan is a believer in taking the next best step. 
Do you have an online resource that you find valuable?
Drudge Report
What book would you recommend to the listeners and why? 
Right Away and All at Once  by Greg Brenneman
If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?
 Go forward and listen to this exact podcast. 
Resources
Elevation Capital Group

Visit Audible for a free trial, and a free audiobook download.

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227: Your Psychology – Friday Fundamentals

Your psychology is perhaps the most important quality in your life. It controls what you do, how you do it, and ultimately how successful you can be. With the right psychology, the sky is the limit. With the wrong psychology, you might never reach your full potential or even come close.

Have you ever come across someone who seems to be less driven, less qualified, or less capable than you, yet is more successful at something specific? If it isn’t due to capabilities, intelligence, or some other innate quality, then what could their success over yours be contributed to? It’s likely their psychology.

Your psychology in this context is how you perceive both yourself and your surroundings. If you perceive yourself as capable, successful, ambitious, or positive, then chances are you are those things. If on the other hand, you perceive yourself as lacking, inadequate, incapable, then you probably are those things. Your psychology determines your thoughts. Your thoughts guide your actions, and your actions drive your outcomes. If you want to change your future, then start with your psychology.

“Whether you think you can or you think you can’t, you’re right” – Henry Ford

Your psychology is the guiding force in your life. Luckily, you have the power to take control of it and use it as you wish.

Leverage Your Psychology
Let’s look at how you can understand and leverage your own psychology to shape your thoughts, actions, and outcomes to ultimately engineer the lifestyle you want.

Embrace your positive self-concepts. These self-concepts are the way and things you think about yourself. If you have the positive self-concept that you are driven and motivated, then embrace that. Use that self-concept to push yourself and achieve new heights in your life. After all, you are a driven and motivated individual. Continue to develop new positive self-concepts and use them to your advantage. You already have a ton of great qualities about yourself that you may not even realize. Maybe you are great at viewing the big picture or are extremely task focused, or organized, or encouraging, or a number of other things. Use these to your advantage. Remind yourself that you have a superpower.
Recognize and understand your negative self-concepts. We all have some negative self-concepts of ourselves. If you can realize what these negative self-concepts are and then explore the root of them, then you can use them to your advantage. Awareness is key. 
Focus on growth, rather than contraction. A growth mindset can insight fear, make you uncomfortable, and force you out of your zone. By doing these things, you will grow and expand, achieving new heights. The alternative is to shrink, be comfortable, not expand and reach your potential.  
There are a ton of psychology hacks, improvements, and thought exercises. By focusing on this area of your life, you are investing in yourself both now and in the future. Your psychology will play a huge role in the amount of success you have in life. Any thought exercise, investment, or time spent on your own self-psychology are time, money, and resources well spent. 

Limiting Beliefs
There will be times when you have limiting beliefs creep into your mind. Don’t for a second allow these thoughts space in your mind. It’s only normal to experience limiting beliefs. If it weren’t for them, you would be recklessly taking on risks and exposing yourself to dangers. But at the same time, you can’t let them hold you back. 

Invest in the best resource you will ever have – your mind. Develop and grow your positive self-concepts. With the right mindset, coupled with taking action, you can and will achieve anything you set your mind to. Grow, learn new things, take on new challenges, and force yourself to continually push your psychology to new levels. 

Resources
Visit Audible for a free trial and free audiobook download!

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226: Make It Happen with Gino Barbaro

Gino Barbaro is an investor, business owner, and entrepreneur. He has been investing in real estate for 15 years and has grown his multifamily portfolio to 900 units in just over 3 years. He has teamed up with Jake Stenziano to create Jake and Gino.com, a real estate educational company that offers coaching and training…

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225: Financial Freedom – Friday Fundamentals

Freedom is the power or right to act, speak, or think as one wants without hindrance or restraint. Freedom can mean many things, and obviously here on The Real Estate Way to Wealth and Freedom, it’s a pillar. In the U.S. and throughout much of the world, we are privileged with many freedoms. Freedom to live where we want, work where we want, do what we want, raise a family how we want, and so much more. We have countless opportunities available to us. Freedom is about being able to take control of your life and do the things you want.

With freedom comes both the responsibility and the opportunity to do the things that matter to you. When you exercise your freedom, you are not only helping yourself but you can also help others. You have the freedom to change things for the better, improve your own life so you can help other people, and take full advantage of the world of opportunities at your disposal.

Real estate investing is one of the many freedoms we like to exercise here on the Real Estate Way to Wealth and Freedom. We can take owning real estate for granted. In some parts of the world, owning real estate isn’t nearly as possible as it is here in the U.S. and the large majority of the rest of the world. With real estate investing comes many other possible freedoms, like financial freedom and security.

Your Financial Freedom
Freedom comes in many forms, and financial freedom is one of them. Financial freedom will give you the freedom to do the things you enjoy, rather than doing things you are required to do to make a living. Without financial freedom, you’re tied to trading your time for dollars. While it may be a great pay off (you’re making great money for the time you trade it for), you still don’t have the freedom to do what you want, when you want, where you want. Once you achieve financial freedom you will have many more opportunities to live a life you want. Here are just a few ways:

You will be able to earn income on your own terms. You can work on things that excite and fulfill you. You won’t necessarily have to do what pays the most, but rather what you want.
Financial freedom will give you location independence, meaning you can live and work anywhere you want.
You’ll have the ability and capacity to help other people. You have to first be able to take care of yourself before you can take care of other people. If you have put yourself in a position of financial freedom, then you will be able to help others achieve their goals.
Take Control
Freedom is only available to those who take advantage of it. You have to be willing to take some risks in exchange for financial freedom. It will require some sacrifices. But to avoid pursuing any type of freedom so to avoid these risks is just a shame. Take control of your life. Pursue everything that interests you. Leave no stone unturned in this life. Take some risks, explore new ideas, take on exciting challenges, and exercise every freedom you possibly can.

Resources
Visit Audible for a free trial and free audiobook download!

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224: The Benefits of Being a Leinlord with Bob Fraser

Bob Fraser is on a mission to help investors take advantage of one of the most effective and overlooked avenues of real estate investing: residential mortgage notes. As Founder and Principal of Aspen Funds, Bob has purchased more than 1,000 mortgage notes earning double-digit annual returns without the risk and volatility of traditional investing options.

Bob has personal experience with the unpredictable nature of public markets. In the 90’s, he launched a tech company, raised $44 million in venture capital, and grew it to over 300 employees. Then the tech bubble burst and he transitioned to finance and investing, becoming CFO for several organizations and running a hedge fund. In 2012, he met business partner Jim Maffuccio, and the two found an alternative way to invest in real estate without the volatility of traditional options. By purchasing discounted residential real estate notes in the American
heartland they discovered a high yield, liquid, asset-secured investment that produced consistently superior returns without all the risk. Better yet? They could work with homeowners to help them stay in their homes. Everyone wins.

With Aspen Funds, Bob uses his 20-plus years of experience in finance to oversee the company’s mortgage note portfolios. A Magna Cum Laude graduate in computer science from U.C. Berkeley and former Ernst & Young Entrepreneur of the Year Award-winner, Bob often makes bold, contrarian predictions about the economy and technology, most of which have already come true.

Key Points
Investing in mortgage notes
Being a “leinlord” vs. a landlord
How to buy mortgage notes
Building a virtual business
Lightning Questions
What was your biggest hurdle getting started in real estate investing, and how did you overcome it?
Bob knew nothing about investing in mortgage notes. He partnered with someone who brought that expertise. 
Do you have a personal habit that contributes to your success?
Bob and his team are patient with deals and stick to their philosophies
Do you have an online resource that you find valuable?
Networking tools like LinkedIn
What book would you recommend to the listeners and why?
Rich Dad Poor Dad by Rober Kiyosaki
If you were to give advice to your 20 year old self to get started in real estate investing, what would it be?
Consider investing in notes. 
“A good plan violently executed today is better than a perfect plan executed next month” – George Patton

Resources
Visit Audible for a free trial and free audiobook download!

Free Resources including Bob’s economic forecast presentation

Aspen Funds

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