Author Archives: Tim

Ep. 181 Rob Walton: Adverse Possession and Unlawful Detainer

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Adverse Possession and Unlawful Detainer

RobWaltonImageJoin us as Rob Walton delves into some quirky parts of Florida law (Adverse Possession and Unlawful Detainer) that could really have an adverse impact on your real estate ownership and real estate investing. Eric shares his own personal story of how he learned about unlawful detainer when he found somebody squatting in his house. In this case, Eric worked with Rob Walton who worked to quickly get the squatter out.

Others are not so lucky. And still others find themselves in an adverse possession situation in which another person who has trespassed on their property ends up occupying it and gaining legal ownership of the property (also known as legally stealing the property).

Rob Walton can help with these types of cases as well as with Florida land trust planning, landlord/tenet eviction type cases, and he can help with litigation if needed. 


Podcast Outline

[02:40] About our guest: Rob Walton
[04:28] Unlawful Detainer Scenario (Eric shares his personal story)
[12:48] Adverse Possession Scenario (legal stealing)
[23:01] How Rob can help you
[24:30] Eric’s Summary & Conclusion

 

About Our Guest

Rob Walton is a trust and a state attorney in Tampa, FL. He was born in the Florida Panhandle, grew up in Fairhope, Alabama. He graduated from Stetson University College of Law where he earned his Juris Doctorate degree. He earned his Master of Laws in Taxation from the University of Alabama School of Law. 
Rob is active with the Hillsborough County Bar Association, and regularly provides pro bono legal services to those in need. He currently practices law in Tampa, Fl.

 

Investor Resources

You can contact Rob Walton via the following:
Website:  https://www.lawwalton.com
Phone:  Call Rob Walton directly: 813-434-1960

Ep. 180 Deven Richter: Free Commercial Real Estate Listing Service

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A Free Solution to Commercial Real Estate Listing

Deven Richter identified a problem in marketing commercial real estate and set about to solve it. Sometimes there is a price barrier that is just a little bit too high for people to get involved in commercial real estate. He created a website (myelistings.com) that allows everyone to list and find commercial properties for FREE. To be specific, currently only commercial firms and agents can list commercial properties, but it is open to the public to search and view listings.

Another great feature with this commercial real estate listing service is that commercial firms and agents can distribute their listings nationwide. For example, if you’re an agent in Austin, TX, but you do a lot of business in Florida, you’ll be able to market listings in Florida on the myelistings.com website.

Join us for this episode as we explore this free solution to listing commercial real estate.

 

Podcast Outline

[05:15] About our guest: Deven Richter
[07:31] A solution for listing commercial real estate for free
[13:24] How is Deven able to offer this listing service for free?
[16:51] Closing comments by Eric and Steve

 

About Our Guest

DevenRichterImageDeven Richter is from Austin, TX where he is an independent real estate agent and also a principal in the purchase of income and general commercial properties. He’s been involved in commercial real estate for the last 20 years.

 

Investor Resources

You can contact Deven Richter via the following:

Website: myelistings.com
Email: deven@myelistings.com
Phone: call Deven directly: 512-844-2495

Ep. 179 Frank Coto III: Lending Market Update

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Lending Market Update

In the last 4-5 years, there has been an increase in more aggressive loan programs for investors such as no income / no verification loans, rehab loans, and stated income loans. Frank Coto III shares his view of the current lending market and deep dives into the various types of loan programs that can help investors based on their situation.

Some of the loan types Frank discusses are:

  • Conventional loans
  • NINE program (No Income No Employment)
  • Commercial loans
  • Private money

For those investors looking to choose and secure the right type of loan for their property, Frank is a valuable resource who can work with you to review all the variables and get you a loan best suited for your situation.

 

Podcast Outline

[07:15] Difference between a wholesale mortgage broker vs a bank
[08:12] Frank’s current view of the market / trends / rates
[10:05] How does an investor go about finding the best loan for his/her property?[12:21] Conventional Loan discussion (lowest rates, lowest cost for the longest terms)
[16:07] Private Money
[17:10] NINE Program (No Income No Employment)
[19:33] Commercial Loans
[21:32] No Document Loan (bad credit, no provable income, property not in good shape)

About Our Guest

Frank Coto III is the president of the Lincoln Lending Group which was started in 2003 by a group of real estate professionals and investors to compete directly with larger banks in mortgages.

Frank’s claim to fame is “no loan is too small or difficult to handle.”  His connections in the mortgage and finance and business community have led to unsurpassed knowledge of the industry and area.

Investor Resources

For those investors looking to choose and secure the right type of loan for their property, Frank is a valuable resource who can work with you to review all the variables and get you a loan best suited for your situation. Contact Frank for more information.

  • 813mortgage.com
  • Call Frank’s office at 813-319-LEND (ask for Frank or Beverly)

Ep. 178 Richard Wilson: Family Office Market Update

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The Family Office Market Update

RichardWilsonPhotoRichard Wilson joins us for this week’s podcast to discuss his insights and updates on the family office market. He also addresses how the family office applies to the real estate sandbox, and how real estate syndicators / sponsors can best approach investors.

The family office is a wealth management solution for those that are ultra-wealthy. The wealthier you are, the more a 1% or 3% mistake — selling assets at the wrong time, tax mistakes, regulatory fines, paying too much in fees, etc. — can add up to a lot of money. That’s why many wealthy individuals/families are willing to pay a full-time team to help prevent those types of mistakes and reduce chaos and stress as well as to help them more effectively use their time.

 

SHOW NOTES TIMELINE

[01:13] Opening remarks by Eric Odum and Steven Silverman
[04:33]: Introduction to Richard Wilson
[05:14] What is a family office?
[08:16] Have there been any significant changes in the family office?
[10:22] What kind of deals are your family offices working on?
[12:23] How does family office apply to the real estate sandbox?
[14:56] What kinds of deals would a syndicator have a crack at doing?
[20:30] How can real estate syndicators best approach investors?
[27:11] How do you make yourself look credible when meeting with investors?
[33:26] How can PitchDecks.com help a syndicator put a deal together?
[42:33] How can people learn more about the services / events Richard offers?

 

About Our Guest

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Richard Wilson is CEO of the Family Office Club which is a private club with 1,750 registered investors, around 900 monthly subscribers, and hosts 25 live events a year.

Richard has written the #1 best selling book on family offices and capital raising, and he advises $100M+ net worth clients through his CentiMillionaire Advisors, LLC firm.
 

Richard is a returning guest from 3 years ago on episode 76.

 

Investor Resources

  • A free, best-selling 80-page book by Richard on how to raise capital can be found at capitalraising.com (you can also purchase this on Amazon).
  • Another book written by Richard, The Headaches of $100M+ Families, can be found at  http://centimillionaires.com
  • Anyone new to the family office space or who is interested to see what events we Richard has scheduled or how charter membership works / family office club works, or to download a free book on Family Offices, can go to familyoffices.com

Ep. 177 David Beshears: Market Update on Multifamily & Other Asset Classes

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Market Update on Multifamily & Other Asset Classes

David Beshears has been involved in the commercial real estate industry for over 30 years and shares some great perspectives on the four asset classes of commercial real estate, with a focus on the multifamily market.

David breaks up his discussion into the following four areas:

  • Florida population growth projections with focus on I-4 Corridor
  • Industrial market
  • Retail and office market (with a quick discussion on self storage)
  • Multifamily market

Join us for this episode to learn why David sees a positive outlook for those interested in investing in the multifamily market.

“I think we are going to continue to see a tremendous demand for apartments and multifamily housing.”
– David Beshears

 

TIMELINE of KEY DISCUSSION POINTS

[07:05] Florida population growth projections with focus on I-4 Corridor
[18:57] Industrial market
[22:51] Retail and office market (with a quick discussion on self storage)
[36:29] Multifamily market

 

About Our Guest

David Beshears has been involved in the commercial real estate industry for over 30 years. He started Beshears & Associates, a commercial real estate valuation practice, in 1994.

Over the past 25 years, his firm has appraised over 10,000 commercial properties throughout Florida and the United States.

He’s a member of the Appraisal Institute, and a member of the Royal Institute of Chartered Surveyors. He’s also a licensed real estate broker, and a Florida State-Certified General Appraiser in Florida, Georgia, and Alabama.

Investor Resources

You can get in touch with David Beshears via his website at http://www.beshears.net.

Ep. 176 David Tilney: The Benefits of Master Leasing

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The Benefits of Master Leasing

Master leasing has been around for a long time and offers some good benefits for both the investor and the property owner.

As an investor, some of the key benefits of master leasing are:

  • You get to control the property
  • There is the potential for immediate cash flow
  • You can borrow against the lease
  • You can sublease to other entities who further sublease to other occupants

David Tilney started getting cash flow from day one with master leasing. It gave him the opportunity to build up rapport with the owners, gain trust, and get to test drive the property to see if he had any interest in it before buying it.

Join us for this episode as David discusses his experience and the many benefits of master leasing.

“From my perspective, I don’t think my properties are my biggest assets — I think my tenants are my biggest assets.” — David Tilney

 

KEY DISCUSSION POINTS

[07:47] How did you get into real estate and master leasing?
[12:56] How does master leasing work better for the investor?
[16:28] What benefits does a master lease offer a property owner?
[22:51] What are the overall benefits of a master lease?
[26:20] What lease terms do you look for?
[31:30] How do you find your deals?
[33:11] How are your leases generally structured?
[34:44] David’s Key Point: There is no cookie-cutter approach. You have to look at the needs of the individuals, talk to people, get to know them, listen more than you talk, find out about them and their situation/problem, and then you can offer them solutions based on their situation.
[40:11] David’s advice for those getting into master leasing

 

About Our Guest

david-tilney-photoDavid Tilney has been involved in various aspects of real estate for over 40 years. He started buying houses in 1978 and then went into property management.  David was a pioneer in buyer brokerage in the residential market. In the 1980’s he was one of the largest buyers of foreclosures in his county. He then went into doing master leases.

In 1996 he converted all of his management contracts to master leases, and at one point controlled over 100 master leases and ran a multi-million dollar note portfolio for investors in Hong Kong.

David has a passion for teaching, and shares his insight on property management and leasing with others.

Investor Resources

You can get in touch with David Tilney via his website at davidtilney.com, via phone at 719-492-7462, or via email at hfpm@davidtilney.com. This contact info is also on his website.

Ep. 175 Adrian Smude: Overcoming Limiting Beliefs to Achieve Real Estate Success

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Overcoming Shyness and Limiting Beliefs: A Personal Growth Story

From overcoming shyness to finding a successful niche in mobile homes, Adrian Smude has come a long way in the last couple of years.  Adrian recognized his own shortcomings and decided to do something about it. He joined Lifeonaire and sought the help of two Lifeonaire coaches to help build his confidence and guide him toward his real estate goals. He also pushed himself to attend networking events and joined toastmasters to help him get used to talking in front of people.

Adrian’s two Lifeonaire coaches have also helped him push forward and stay focused on his real estate vision and goals, and his real estate business is now going gangbusters. One of his personal goals is to be debt free, and he is well on his way to achieving this. His other goal was to make enough in passive real estate income so that his wife could have the option to not have to work at her other job — and that goal has now become a reality.

Join us for this podcast as we get an update on how Adrian has overcome several struggles to find a successful niche in mobile homes.

 

“I would have never thought that [kind of success] was possible for me.” — Adrian Smude

 

Podcast Outline

[05:45] Update on How and What Adrian is Doing Now in Real Estate
[06:46] How Coaching has Helped Adrian Achieve His Real Estate Goals
[12:24] Overcoming Shyness
[15:18] Where is Adrian in the Investment Cycle / How Many Homes is He Buying?
[17:53] What is Adrian’s Mobile Home ROI?
[20:11] Getting Insurance on the Mobile Homes
[21:02] Buying Mobile Homes with the Land
[22:32] Adrian’s Marketing Tactics for Finding Sellers of Mobile Homes
[24:53] Using Brokerage Networks to Find, Rent or Sell Properties
[26:30] What is Adrian’s Miracle Morning Routine?
[28:02] Adrian’s Advice to Investors Trying to Find their Path

 

About Our Guest

landlord talesAdrian has been investing in real estate for 15 years, starting out as a hobby landlord. Only knowing what the banks told him, he followed that path for 10 years.

It was then that he discovered his passion for real estate through meetings, like the Invest Florida Meetup. As the market shifted, so did Adrian’s strategies for investing, leading him to mobile homes. This has now been his investment target for the last few years.

Adiran and his wife Erin are a husband and wife team, and they founded “My Wife Buy$” to help people sell their mobile home fast and make the process as simple as possible.

Adrian was a previous guest on episode 98, about 2.5 years prior to this episode.

Investor Resources

You can get in touch with Adrian via email at adrian@mywifebuys.com or call (preferably text) 813-720-7874. You can also check out his website at  https://mywifebuys.com for more information about Adrian and his real estate business.

 

Ep. 174 Frankie Herrera: Real Estate Success through Listening and Solving Problems

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 Listening vs Talking

When people do business, they are usually always talking and selling. Frankie Herrera, however, takes the opposite approach. Frankie’s strategy is to get in front of the investors and listen in order to understand the problem and then provide a solution that’s mutually beneficial.

 

KEY TAKEAWAYS FROM THE Q&A:

[13:55] Does Frankie have a specific formula to determine if the property is a good investment?

Frankie does not have a specific formula but instead looks at the big picture. Ultimately, it just has to make sense. Frankie likes to physically be there to see the property and the surrounding area to get a gut feeling as well as to see what the comps are saying.

[18:05] How does Frankie find the people he can help?

In 2014 he bought into a franchise called HomeVestors.  For advertising, they do mass mail marketing, TV spots, billboards, and pay-per-click — all on a very large schedule. There are 34 local franchises, and they pool their money together to be the “100 pound gorilla” in the room.

[24:05] How does Frankie acquire capital?

Frankie maintains very clean and understandable books/financials so that banks can look and easily see it’s a good investment. This really helps to get good size lines of credit. They leverage those lines of credit as well as their own money from their property management company.

[30:30] How is the market right now?

It’s hard to read the market so they do a lot of testing. They buy a lot of property and throw it out there wholesale to see how the investors are doing.

[33:20] Any advice for Newbies?

Pay attention and listen to absolutely everything that’s out there. Try to stay in a relatively safe place. Don’t feel like you have to shoot for a home run on your first one. Start hitting singles. Singles turn into doubles and triples, and then your home runs will come. Focus on one thing at a time. Be careful of the amount you will improve a property. You will not be living there, so don’t get wrapped up in too many improvements. Don’t over-improve the property.

 

About Our Guest

Our guest this week is Frankie Herrera. Frankie has a B.A. in Finance from the University of South Florida. He started his career as a project manager for Volunteers of America Florida in 2006 where he learned building construction. In 2009 he furthered his career by joining Hillsborough County Fire Rescue.

In 2011 he started Partners Associated in Development by Herrera, LLC at HomeVestors – where his team has bought, rehabbed, rented, and sold over 300 properties.

In 2016, he opened up RealVest Florida, LLC – a boutique real estate brokerage. In 2017, he opened up Versant Managmeent Group, LLC – a property management group which manages properties for local investors.

 

Investor Resources

If you would like to contact Frankie Herrera, you can can reach him at directly at 813-944-3908 or 813-966-9734. Frankie can help you with you with questions about deals, the area, how things are going, looking for a house, property management, retail real estate and investments.

Ep. 173 Steven Rinaldi: Opportunity Zone Program and its Capital Gains Tax Incentives

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Opportunity Zone Program

The Opportunity Zone Program can provide a big financial gain for investors through generous capital gains tax incentives. Since the Opportunity Zone program is so new (late 2017), relatively few investors are familiar with it.

The tax overhaul bill that was passed in late 2017 contained the Investing in Opportunity Act, which established the Opportunity Zone program consisting of Opportunity Zones and Funds. The program was created to revitalize economically distressed communities using private investments rather than taxpayer dollars. In exchange for investing in communities within Qualified Opportunity Zones, investors can access capital gains tax incentives both immediately and over the long term.

As an example, if you sell a piece of property and use the entire proceeds to invest in an Opportunity Zone Fund or a qualified Opportunity Zone Business, and you hold that investment for 10 years, 100% of your capital gains tax liability goes away.

Of course, you do need to use due diligence. Don’t make real estate investments based primarily on tax incentives or as tax avoidance strategy. The real estate investment needs to make sense, and any tax incentives should just be the icing on the cake.

In this episode, Steven Rinaldi will answer such questions as:
  • What exactly are Opportunity Zones?
  • What are the benefits of Opportunity Zones?
  • Where do I find Opportunity Zones?
  • What do I need to do to start an Opportunity Zone Fund?
  • How do Opportunity Zones compare to 1031 exchanges?

 

About Our Guest

real estate securities

Our guest this week is Steven Rinaldi, who has his own law firm in downtown Bethesda concentrating on business law and intellectual property matters. Prior to September 2005 he was a software licensing attorney for Mercury Interactive, was the associate general counsel of the American Bankers Association, and was responsible for all business agreements for a $30 million dollar a year division of the association. He handles all kinds of real estate related activities such as private placement, angel investment, venture capital, merges & acquisitions, technology issues, crowdfunding, and more.

Steven was a previous guest in Episode 132 and spoke about What You Need to Know About Investing in Real Estate Securities.

Investor Resources

Want to find out more about the Opportunity Zone Program? You can contact Steven Rinaldi through email at stevendrinaldi@msn.com or by phone at (204) 481-2708. You can also check out his website here.

Each state’s economic authority has a list of Opportunity Zones. Click here to link to Florida’s Opportunity Zone Program as discussed in the podcast.