Agent Investor Podcast

The Biggest Obstacle of Being An Agent Investor (& How to Overcome It)

Investing is not difficult and even though a lot of agents are interested in it, not many of them actually put action behind that intent. Capital is the main reason agents think they can’t invest, but that’s far from the truth.

 

How can we overcome the biggest obstacle of investing without having a huge amount of capital? What steps should we take to get started?

 

In this episode, founder of Candor Realty Group Jonathan Bombaci joins me to talk about investing as an agent and how he got started as an agent investor.

 

Most agents know that they should be investing in real estate. -Tom Cafarella

 

Three Things You’ll Learn In This Episode

 

-What it takes to be an agent investor
What exactly makes a successful investor? What is the mindset that you need to have?

 

-How to get started on your journey
It’s not difficult to get started in investing, but there are many ways to get started. How do we pick what’s right for us?

 

-How your sphere can impact your investing
People bring in value when we partner with them. How can we also bring value to them and make it a win-win situation so that they will want to continue to work with us?

 

Guest Bio

 

Jonathan Bombaci is the founder of Candor Realty Group that specializes in looking at real estate transactions from an investors point of view. As investors they have firsthand experience with investment properties which they leverage to differentiate themselves in the marketplace.

 

Jonathan used the knowledge and experience he gained in financial analysis to invest in real estate. Jonathan and his wife acquired 24 rental units in Northern NH and set up a passive income system that more than pays their bills. He used his newly found financial independence to dive headfirst into real estate with the mission to help others reach financial independence through real estate.

 

Find Jonathan on LinkedIn here @Jonathan Bombaci

Visit  https://www.candorealty.com/ 

Do You Have Too Much On Your Plate to Invest? The Encouraging Truth w/Stefanie & Patrick Willie-Bonglo

One of the biggest barriers to becoming an agent investor is the belief that you simply don’t have time to juggle the two. Many agents already feel like they are spread too thin selling homes and dealing with clients before taking on another business.

 

The truth is - adding investing to an already busy schedule is possible, and because it can make us less reliant on the retail side, it can actually streamline our lives.

 

In today’s episode, I’m joined by Stefanie & Patrick Willie-Bonglo, a couple who are excellent at juggling a lot, and they share their story and their secret to balance.

 

By just changing your mindset, you can go from making your 6% on a listing to making $150,000. -Stefanie Willie-Bonglo

 

Three Things You’ll Learn In This Episode

 

-How to ramp up quickly in real estate
Why was coaching so pivotal to Stefanie and Patrick’s early success in real estate?

 

-The importance of prioritization
As busy entrepreneurs, it’s easy to neglect rest. How do we remind ourselves to take time off? 

 

-What successful people have in common
Why do we have to get better at making quick decisions? 

 

 

Guest Bio

Stefani and Patrick are agents, investors, husband and wife team and owners of Team WB Real Estate. For more information, find them on Facebook.

How To Get 1-on-1 Help Through The Inner Circle

Most of us are well aware that investing is the key to financial freedom, but it’s hard to take action when we don’t have the education that we need. If we want real estate to change our lives, getting educated isn’t enough, we have to be able to take action, get access to deals, funding and the support of people in the game. The more individualized this support is, the better.

 

This is what we created our Inner Circle for. In this episode, I share what you get access to when you sign up, and how we’ll help you achieve your real estate dreams. 

 

Three Things You’ll Learn In This Episode

 

- Why it took me 6 years to do my first investing deal
What can we do to get off the fence of real estate investing? 

 

-How to focus on priorities
There’s always a shiny object trying to take our attention, how do we stick with what will give us ROI? 

 

- All the things you get access to in the Inner Circle
What are the resources and tools agents really need to make the step to invest?

Agent Investor Systems: What Can You Expect From Our Upcoming Event?

Real estate agents have a unique advantage when it comes to investing in real estate, but we need education to get us started and set up for success.

 

Being in the same room as other agent investors and getting exposed to key systems and strategies is one of the biggest shortcuts to success in investing. We can learn a lot of impactful lessons from in-person events, and with this in mind, we have our 2 Day "Agent Investor Systems" coming up.

 

In this episode, I’ll share what you can expect from the event, and why we’re so passionate about putting them together. 

 

As an agent, you have all the components necessary to do great investing deals. -Tom Cafarella

 

Three Things You’ll Learn In This Episode

 

-The benefit of doing retail and investing simultaneously
Why do we encourage people to stay in real estate sales even when their investing business is thriving?

 

- How to use systems to get predictable results
What tools do you need to get renovations done on time, and on budget with little to no hassle? 

 

- What you can learn from the experiences of other agent investors
How do we make sure every asset you own is a great one?

The Mindset of a Private Lender: How to Become a Good Loan Candidate w/Paul Shaughnessy

To succeed as an investor, you have to get good at 3 things, finding deals, finding capital and managing the properties. For most people, the capital piece is the most challenging, especially if you’re just starting out.

 

Partnering with the right lenders takes a lot of the complexities and guesswork out of the capital part, and the more educated we become about them, the better.

 

How do you tap into different pockets of capital? What are private lenders looking for to invest in a deal?

 

In this episode, I’m joined by the Managing Director of Renovo Financial in Boston, Paul Shaughnessy. We talk about how lenders approach deals and how to make it easier to get capital for your own investments.

 

Anytime there’s significant amounts of uncertainty, you’ll have capital leaving the market. When there’s a scarcity of capital, that leads to more expensive money. -Paul Shaughnessy

 

Three Things You’ll Learn In This Episode

 

• What lenders are looking for in an investor
  Why do lenders prefer an investor who has a solid team behind them? 
  
  
• Why lenders vet rental deals closely
  Can the right lender keep you from getting into a bad deal in the first place? 
  
  
• Why you need multiple sources of capital
  Can we expect capital to become more constricted with what’s happening with interest rates? 

 

Guest Bio

 

Paul Shaughnessy is the Managing Director of Renovo Financial in Boston. Since 2016, Paul has been wheeling and dealing in Boston real estate. Renovo Financial is more than a lender,  with local market knowledge and a streamlined process, they work with clients through the life of their real estate investment loan to ensure that their project gets completed quickly and efficiently. For more information, email paul@renovo.com or call 339-224-2586.

Deal of A Lifetime: How 2 Agent-Investors Increased Their Net Worth By $1 Million

For agents, the kinds of deals that increase your net worth by $1 million are rare and really hard to come by. An investor on the other hand, can stumble into a game changing deal like this and even get into it with little to no money down. Through investing, you can earn in a single deal what would take years as an agent, and even a beginner can do this.

 

This is what happened to Jason Goldfarb and Tyler Scaglione - they just came off an investing deal that made them a cool $500k, and that’s before all the equity they’ve walked into.

 

How did this deal happen and how easy is it for an agent-investor to do the same? In this episode, my mentees share the story behind this deal and the lessons even a beginner investor can learn from it.

 

Can you increase your net worth by $1 million as an agent? It’s possible, but it takes more bandwidth and time, this is a shortcut. -Jason Goldfarb

 

Three Things You’ll Learn In This Episode

 

• The multiplier effect of investing
  How did one of my guests go from 1 single family property to 9 units and then 16 units?
  
  
• How a 20-year old got this deal started
  How did our special bonus guest make this whole deal possible?
  
  
• Why we need a funnel of off-market deals
  How did Jason and Tyler make this deal happen with a lot less than $5000 down? 

 

Guest Bio

 

Tyler Scaglione is the team lead at Homexe - Cameron Prestige LLC. He is an experienced Licensed Real Estate Agent with a demonstrated history of working in the real estate industry. Skilled in Skip Tracing, Sales, Real Property, Strategic Prospecting, and Investment Properties. 

 

Visit https://www.homexe.com/

Find Tyler Scaglione on LinkedIn @Tyler Scaglione 

 

 

Jason Goldfarb is an Acquisition Specialist and Real Estate Consultant at Goldpath Real Estate Group. He was first licensed in 1999 and has proven time and time again that he can help clients attain their goals. Jason specializes in real estate sales, short sale negotiation, and broker price opinions.

 

Find Jason on Instagram @jason_goldfarb_realestate

Find Jason on LinkedIn @Jason Goldfarb

Just Take Action: Why The First Step Will Change your Life Forever w/Michael Wetherbee

In anything we want to achieve, taking action is always the first step to getting there. We could have all the tactics and intentions in the world, but if we fail to execute, it’s meaningless. In real estate investing, everything revolves around taking action.

 

How do we gain the courage to take the first step? What sacrifices do we have to make in order to get closer to our goals?

 

In this episode, agent investor Michael Wetherbee joins me to talk about his first steps in investing, how making mistakes helped him gain clarity, and what pushed him to begin his agent investor journey.

 

Investing is all about sacrificing your today for a future. -Tom Cafarella

 

Three Things You’ll Learn In This Episode

 

• The importance of reflection
  How do we take a step back and appreciate and learn from the journey so far?
  
• Using information to your advantage
  We have an abundance of information at our fingertips, but how do we use the correct information in order to reach the next level?
  
  
• The importance of mentorship
  How can a mentor or coach guide you through challenges, even if you've been in the real estate investing game for a long time? 

 

 

Guest Bio:

 

Michael Wetherbee is a motivated and dedicated agent with experience in each stage of real estate.  Michael takes the extra step to get clients prepared to get their house on the market and makes his clients feel comfortable with each phase of the transaction.   Whether it is buying or selling properties or getting involved in investing to grow wealth with rehab projects and multi-families, Michael has over 7 years of experience in all categories.

 

Find Michael on Facebook.

Find Motivation, Provide the Solution: How to Craft the Perfect Cash Offer Script

Traditional listings and off-market, cash offer deals are two completely different animals. The consumer’s motivations are vastly different from someone who wants to list on the MLS, so we have to prepare accordingly.

 

Whether it’s over the phone or at the kitchen table, what we say and the types of questions we ask are critical to our success with these transactions.

 

How do we identify a cash offer opportunity? How do we internalize the scripts so they sound like us?

 

In this episode, you’ll learn how to prepare when a cash offer opportunity presents itself.

Be inquisitive. You want to understand where they’re at, where they’re looking to go and how you can potentially bridge that gap. -Tom Cafarella

 

Three Things You’ll Learn In This Episode

 

• How to do the work upfront
  Why is the initial phone call in a cash appointment so critical to the entire process?
  
  
• Cash vs. retail consumers
  A client who wants the ease of a cash transaction is very different to a client who wants to get the most amount of money. How can we identify who wants the former?
  
  
• How to put sellers at ease with one sentence
  When you ask people how much money they want for their home, they are bound to become defensive. How do we take the pressure off?

How Accounting Adds Value and Helps You Make Good Business Decisions w/Kevin Brown

Accounting can seem like a boring part of a business, and a lot of people see it in a negative light, but when done correctly, accounting can have a positive impact on our business and even help it grow.

 

How does accounting help us make better business decisions? What value does it add to our business? How do we find the right people to track and analyze data that will ensure growth?

 

In this episode, CFO of Cameron Real Estate Group, Kevin Brown joins me to discuss the role of accounting in different businesses, how accounting can add value and help us grow and how to set up your own accounting and tax team.

 

If you can’t find opportunities then you’re not working hard enough. -Kevin Brown

 

Three Things You’ll Learn In This Episode

 

• How to find the right tax professionals
  How do we find the right tax professionals that are specific to our business and know the industry well?
  
  
• The key metrics to look for in a brokerage
  Can data show us where more time needs to be spent in the business?
  
  
• How data can help us forecast the future of our business.
  How does accounting help us map out the future of our businesses?

 

Guest Bio:

 

Kevin Brown is a senior finance and accounting professional with demonstrated expertise in all company lifecycle activities including fundraising, reorganization, brand extension, and successful exit execution. He is currently the CFO of Cameron Real Estate Group. Kevin collaborates effectively with stakeholders and identifies business opportunities. Kevin is an expert in using analysis, insights and team approach to drive organizational improvements and best practice implementation.

Find Kevin on LinkedIn https://www.linkedin.com/in/kevin-brown-a58b434

 

Renovating Homes in 2023: Strategies From An Investor With 20 Years in the Game w/Jim Cooke

Whether we’re remodeling an investment property for a buy and hold or flipping it for a quick turnaround, navigating renovations and construction can be a minefield, especially in this market.

 

This is an area where extremely expensive mistakes can be made, and one way to avoid them is leaning on the experience and expertise of seasoned renovators.

 

How do we avoid over-renovating? Where can we find contractors we can trust?

 

In this episode, I’m joined by the owner of Cooke LLC, Jim Cooke. With 20 years of experience renovating investment properties, he shares what every new investor has to know about this critical aspect of the game.

 

Don’t fall in love with the property, it’s not your house, your goal is to get it to comp. -Jim Cooke

 

Three Things You’ll Learn In This Episode

 

• High-level budgeting strategies you have to be aware of
  How do we determine the money and effort we need to put into a project for it to be profitable, and not a money pit?
  
  
• The key to contractor relationships
  Why would a contractor choose to work with an investor on a repeat basis?
  
  
• How to shift your strategy with the market
  As investors, we have to deal with material shortages. How do we shift our strategies to keep up with changes in the supply chain? 

 

Guest Bio

Jim is a real estate investor and founder of Cooke Realty LLC. With 20 years of flipping experience under his belt, he has handled just about every type of home renovation.

Connect with Jim over on LinkedIn.