Moneeka Sawyer

Author Archives: Moneeka Sawyer

Moneeka Sawyer is often described as one of the most blissful people you will ever meet.   She has been investing in Real Estate for over 20 years, so has been through all the different cycles of the market.  Still, she has turned $10,000 into over $5,000,000, working only 5-10 hours per MONTH with very little stress. While building her multi-million dollar business, she has traveled to over 55 countries, dances every single day, supports causes that are important to her, and spends lots of time with her husband of over 20 years. She is the international best-selling author of the multiple award-winning books "Choose Bliss: The Power and Practice of Joy and Contentment" and “Real Estate Investing for Women: Expert Conversations to Increase Wealth and Happiness the Blissful Way.” Moneeka has been featured on stages including Carnegie Hall and Nasdaq, radio, podcasts such as Achieve Your Goals with Hal Elrod,  and TV stations including ABC, CBS, FOX, and the CW, impacting over 150 million people.

7 steps for new investors with Leah Collich

Today I’d like to welcome to the show our guest Leah Collich!

About Leah Collich

Leah is a native Texan and is the spouse of an active duty Army officer. The Army has afforded them with the opportunity to see the world and live in Asia, Europe, South America and all across the US. Their life abroad led them to realize a passion for travel and adventure and they quickly discovered that real estate investing was one of the best ways boost their passive income so they could continue this lifestyle after the military.

Her professional background is in communications and after working as a government consultant for many years, she now works full time in real estate, passively managing her own portfolio of rentals and as an investment counselor at the Real Wealth Network. Every week she speaks with dozens of investors about how they can make their real estate investment goals a reality through the purchase of “turn key” investments. 

In this episode of EXTRA we talked about:

  • Clarify Goals 
  • Define Current Situation 
  • Discover your Purchasing Power
  • Determine Your Financial Strategy 
  • Determine Your Purchasing Strategy 
  • Refine your “Buy Box”
  • Diligently Execute

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Learn how to create a consistent income stream by only working 5 hours a month the Blissful Investor Way.

Grab my FREE guide at http://www.BlissfulInvestor.com

Creating Passive Income Through Turnkey Real Estate With Leah Collich 

Passive Income Through Turnkey  

 

Real estate has been proven to be one of the best long-term investments and best ways to increase passive income to live your dream life. Moneeka Sawyer interviews real estate investor and investment counselor Leah Collich to ask about her journey of becoming a real estate investor and eventually being Real Wealth Network‘s investment counselor. She explains how turnkey property investment works and how she and her husband ended up doing it. So if you want to venture into this type of real estate investing, listen to the conversation and be more familiar with it.

Listen to the podcast here:

Creating Passive Income Through Turnkey Real Estate With Leah Collich

Real Estate Investing For Women

I am excited to welcome to the show Leah Collich. She is a native Texan and is a spouse of an active-duty Army officer. The army has afforded them the opportunity to see the world and live in Asia, Europe, South America and all across the United States. Their life abroad led them to realize a passion for travel and adventure. They quickly discovered that real estate investing was one of the best ways to boost their passive income so they could continue this lifestyle after the military. Her professional background is in communications and after working as a government consultant for many years, she now works full-time in real estate, passively managing her portfolio of rentals and as an Investment Counselor for Real Wealth Network with Kathy Fettke. Every week, she speaks with dozens of investors about how they can make their real estate investment goals a reality through the purchase of turnkey investments. Leah, welcome to the show.

Moneeka, thanks so much for having me. I’m excited to be here.

I’m excited too. We’ve loved hearing from Kathy in the past. I wanted to introduce my ladies to the team. Ladies, Leah is one of the counselors for Real Wealth Network, which many of you have already checked out. Some of you have already talked to Leah and because of the synergy with the two companies, Leah’s now our designated blissful coach. I wanted to introduce you ladies to her and we’ll talk a little bit more about that later but in the meantime, Leah, could you tell us about your real estate story?

I’m pleased with this collaboration and being able to connect with you and your readers. I think a lot of understanding my background and where I come from feeds into the mission of real wealth. I’d love to share that with you. I’m a regular person. I know filling in some of the information and preparation for this show, we call it expert session. I found myself going, “I get that a lot even on calls. When I talk to investors, people assume that I’m some expert or that I know everything there is to know about real estate.” I always tell them, “I’m a regular person. The only difference between me and you is time and action at this point.” My story starts off as a lot of beginner investors.

I happened into real estate on accident. In 2010 during the middle of the last housing recession, I had just gotten married. My husband was starting his career in the military. We were stationed in a small tiny town in Southern Alabama. We were smart enough to do some basic math when we were house hunting. We found this brand new construction townhome and we looked at the numbers and said, “We can rent this townhome for $950 a month or we can buy it for $750 a month.” My dad had had a rental property growing up. There was nobody in my corner telling me like, “Don’t do that. Bad idea.” The math made sense. We bought this brand new construction townhome knowing we would be there short-term, knowing that we would keep it after we left, turned it into a rental and it would make us some money.

That’s what we did. This was in 2010 when there was a home buyer credit. You got a check, we got a $15,000 or $10,000 home buyers credit to buy this cashflowing investment. Fast forward, maybe seven years or so, we were subscribing to the traditional way of preparing for retirement. We were doing everything right. We were saving, not maxing out credit cards, opening up 401(k) accounts, IRAs and maxing them out every year, trying to be as diligent as possible to be sure that we were prepared for retirement. It was when my husband got close to his halfway point in his military career that we were like, “In another 10 to 12 years, we could maybe retire, you’d get a pension.” We looked at these retirement accounts and we went, “We can’t touch that money until we’re 59.5. That doesn’t help us retire early.”

We started looking for opportunities in our life of, “Where can we create income that we can live on?” That rental had been cashflowing all along and rented nonstop. We got inspired to replicate that but be a little bit more intentional with it with the purchases ongoing. We flipped a house that we lived in, freed up a bunch of cash as we moved to Europe and said, “We’re going to get this cash reinvested and we’re going to focus on cashflowing markets.” We had a comfort level with that first market that we bought in. We went back to that same market. We bought a foreclosure from Europe, we’re overseeing a renovation. We’re on the phone with general contractors late at night. We’re trying to hustle and get this great deal going.

It was a lot of work but it was a success story. We were so pleased with ourselves but we did at the end in our reflection on how it went go, “What could we have done better in that scenario?” One, it wasn’t super passive. We were both working full-time. It was a lot to take on as an investment strategy. Two, we didn’t improve the value of that home enough to justify a cash-out refinance. We were a little bit under leveraged in this property. We started seeing that if we want to scale that extra cash that’s stuck in that asset, if we did that over and over again, we’re limiting our ability to scale and expand.

Sometimes, the only difference between a successful person and those who are not is time and action. Click To Tweet

We thought, “Wouldn’t it be great if we could find a company or someone who could do the rehab for us, we could come in with the capital, put our money to work passively, have maximum leverage and move on to the next one.” That’s how we found Real Wealth Network. Living from Europe, we’re looking for opportunities to connect in new markets with opportunities that we could put that income to work passively. We scaled quickly in that year. Now we’re diversified in about five different markets and that’s how I got to this idea of passive income but turnkey because it allows me to continue to pursue passion, interest and use my time in those ways instead of on the asset itself.

I have ads running for you, this is the true blissful path. That’s the way that I’ve done things too is I always want things to be like little time and energy commitment. For me, I’m more of an appreciation person. I’m moving from an appreciation market to more of cashflowing markets and that happens. We evolve in life to what it is that we’re needing as did you, you went through an evolution. Ladies, that’s one of the things to keep in mind is whatever strategy you are trying or doing. I don’t like to say try because real estate is not a try-thing. You got to commit and give it some time. Whatever you’re doing in this stage of your life could be different than what you’re doing in the next stage of your life. You’re not married to this strategy but you could get married if you fall in love. I’m trying to use definitively one of those places where we can fall in love because the benefits are great.

I find that it does embolden you when you experienced mastery that might be too strong of a term even but when you’ve experienced success in one avenue, I feel like it can embolden you to take risks in new areas and try out some different strategies. It doesn’t have to be an exclusive strategy. We’re always looking for deals elsewhere. I certainly have an appetite for flipping and doing some of that more active approach but it’s been such a journey for me and something that I’m grateful now to get to share and encourage other people on how they can do the same and how this is a viable strategy for creating retirement, creating freedom, or even diversifying. It doesn’t have even to be that grand of a plan. It can be a simple diversification measure as well.

Do you feel like you’ve replaced your income? Could you go have that lifestyle with what’s coming in with cashflow?

We’re getting close to having choices.

I love that you say that. It’s not retirement, it’s having choices.

We started realizing our whole career we’ve spent away from family and we’ve had a wonderful adventure. It’s been so rich but at the end of this career, we were inspired. Our why was the ability to have the choice to go where we want to go. We don’t have to go and follow a job in a specific city. We can choose to go back with family or abroad but having those options, to me is worth so much and you discover that you enjoy it. These ideas that you had of paying down loans, it evolves and suddenly, you’re moving in a different direction. We’re continuing to have a lot of fun with it. Retirement keeps getting kicked further down the road by choice.

I know what you mean because we could retire too. David loves what he’s doing and I love what I’m doing. Why would you retire when you love what you’re doing? Ladies, read me talk about retirement all the time and it’s not the right word. I love your choice of where it’s better, where we have a choice. We can now make decisions based on what we want to be doing with our time, life, energy and money as opposed to what we need to be doing to pay the bills. I love the way that you put that.

REW 46 | Passive Income Through Turnkey

Passive Income Through Turnkey: When you’ve experienced success in one avenue, it can embolden you to take risks in new areas and try out different strategies.

 

Finding people like Kathy has been instrumental to that for me. That’s what Real Wealth is passionate about is about. It’s not chasing this idea of that society puts on us of what is successful but what is real wealth to you? It is freedom, a choice and being able to live life on your own terms. That resonated with us so much and little did I know that one day I would join the Real Wealth team and get to share in that mission of spreading that dream with others.

Why did you choose to do that?

My background is in communications. I did a lot of adult curriculum development. That instructional and teaching background is my speed and then the opportunity to marry that with this personal passion that we developed of investments, I find it super exciting. What we do at Real Wealth is providing a lot of emphasis on education and teaching people the fundamentals because the fact of the matter is the reason more aren’t investing in real estate is there’s a significant learning curve and it’s intimidating. In our minds, we’re thinking of these mega moguls that have invested in real estate.

We think that’s where we have to be and that we self eliminate. We choose to pursue other options that are maybe easier. In Real Wealth, we break that barrier of like, “Ask questions. Let’s be curious and learn together. We don’t have to be an expert about it.” The second part of that is offering a tactical means by which you can take action and turnkey offers you the ability to connect with people in markets that are experts there in that market boots on the ground who understand the market dynamics and who can help you find a product there and that long-term buy and hold investment.

How does this work for people once they’re in the system, they joined and everything, what happens?

We aggregate a lot of data on what makes a good market for real estate investors. We’re looking for job growth, population growth, strong diversified economies but yet we want them to be affordable markets where we can come in as levered buyers and have good solid cashflow. We want landlord-friendly laws. We let all of this data point us to those markets. We’re interested in about fifteen different markets and that’s not an all-inclusive list. There can be great things about many different markets but once we found those fifteen markets, we go out and look for a team there locally that specializes in finding those deals and in rehabbing those properties or in some cases, building new construction homes. In addition to that, they have professional property management again so that you get connected to that deal.

If that were it, that would be too easy because it’s overwhelming. Fifteen markets is a lot to choose from. It still doesn’t make it tangible. That’s where an investment counselor helps. We’re experienced in these markets, myself and there are three others. We know these markets, these teams and general investing strategy. We get on the phone with an investor who’s ready to pursue that. Through a conversation, we talk, what is their search criteria? What are your goals? What is it that you’re looking to do? That can guide us to a market that’s maybe the best fit for an investor. I’m sure you’ve heard before some people want to drill it down and go, “What’s the best market?”

The answer to that is always, “It depends. What are you looking for? How much capital are we working with? Are you looking to create maximum cashflow or the greatest return over a longer period of time?” What is the priority? Through a conversation, we help you refine what it is that you’re looking for and refine what your buy box is. What can help you get to those goals that you have sooner? We can make those referrals and connections to these companies and those markets that can help you identify the property.

Turnkey allows investors to continue to pursue passion and interest. Click To Tweet

You introduce to a company in the market. Are you hands-off after that or what happens?

What makes us different is that we maintain a relationship with our investors. It truly is a network. The strength of the network is in our investors. It’s providing that full circle or full feedback loop if for a lot of people, this is their first time going through a transaction like this. We, Real Wealth Network, remain involved and offering you that strategic guidance. We’ve put together some great checklists that help you with due diligence and how things you should be looking for when you’re screening property and getting home inspections, appraisals and offering you some of those good tips to guide you along the process. We love getting feedback from our investors on how it’s going.

We touch base and maintain that relationship beyond acquisition but into the management phase where the proof is in the sauce, that long-term hold of the property. How’s it doing? Did it do what we hoped it would? At the end of the day, you can’t make guarantees about how someone’s experience can be? How past performance can’t guarantee that, but it can be a good indicator to be able to point to 100 or 300 sales in a specific market and the track record of the property management team that has managed those homes for this period of time. That can give a lot of people the confidence that they need beyond taking a shot in the dark, in a market that they’re unfamiliar with where they don’t know anybody. It’s a lot of the benefit that you get when you’re a part of Real Wealth.

What happens if something does go wrong with the management company? This has been my biggest fear of going outside of the California market. I’ve kept all of my assets close within 50 miles so I can get there. If you’re out of state then you can’t do that. What happens if there’s something that goes wrong for instance with a management company or the house or something like that?

Think of it as a risk. That is a risk tolerance that is beyond some people, that idea of not being able to go there. Due diligence is extremely important and not just taking what we say and going with it regardless. We always say, “Trust what we say,” but verify it. Make sure that this is something you’re comfortable with. I tell everybody, we have a property manager here that is proven that we have some leverage with because we’ve worked with for many years but at the end of the day, you need to make sure that they meet your criteria because even within something like property management, there’s a personal preference. You can talk to five different people about the same property manager and you’ll get five different takes on some of the nuances of how they do business and whether they love them or whether they’re okay.

The important part and what we put a lot of emphasis on is you own this process. I do interview a couple of property managers who have a backup plan. When I’ve had situations like that personally, where something has not gone well and a property management experience wasn’t the best, it’s something that you can focus a little bit of energy into. I was quickly able to identify another property manager that could meet my expectations a little bit better. We at Real Wealth are here to help guide you through that process and lead you through that process of evaluating. Sometimes, it’s hard to know what is a typical experience or what is something that is a normal risk of owning real estate. Let’s not throw the baby out with the bathwater yet and dump your property manager. This might be a problematic tenant and you need to ally with the property management company and get beside them in the real issue.

Do you give references for property management companies? How do people find who to interview?

We provide the reference for the specific property manager there in that market. That’s the reference that we offer but then you can go online and find other property managers on your own. We do encourage you to do that to make sure that they’re who you want to work with.

REW 46 | Passive Income Through Turnkey

Passive Income Through Turnkey: Make decisions based on what we want to be doing with our life, energy, and money, as opposed to what we need to be doing to pay the bills.

 

Do you offer the opportunity to talk with other network members that have used that property manager as a reference? How might that work?

COVID has put a little bit of a damper on our normal processes for that. We had live events every month before March 2020. That was an opportunity for investors to all get in the same room, share their experiences, talk about the pros and cons of different areas and that was hugely beneficial when we did that so regularly. Now that we’ve gone virtual, that looks a little bit different. We do though have the ability to connect you with some people there locally in the market who have bought there over a period of time and who can give you some insight into their experiences with property management.

That would be my big thing is to get the references and get some validation around that decision. Tell us a little bit about, how you fit into my Blissful community? I’m excited about this collaboration. Let’s talk about how it happened and what my ladies can expect?

Kathy and you share a lot of synergies in your approach to this. You’ve got a similar abundant mindset that Kathy and Rich Fettke both have. This was an opportunity for us to provide a woman to woman connection in real estate where we can help your investors who are curious about the turnkey model, curious about a more passive approach to real estate investing so we can have that warm handover. We’ve set up a website for our blissful friends who are interested in turnkey where you create a profile on Real Wealth Network and then you’ll automatically be linked to me as your investment counselor. Once you’re logged in and created that account, you’ll have access to all of the free educational resources. You can start educating and you can look at all the market data that we’ve aggregated. You’ll have the ability to look at the teams that we work with. You’ve got access to me as your investment counselor to help you navigate the process, streamline it and hopefully get you going.

Nothing happens until we take action. We can think about it all day long.

I had a blissful investor come and we had a great strategy session. She was contemplating lots of different investment strategies, some more active some more passive but recognizing that there was a place in her investment strategy for a passive approach. We got her connected with the team that works in the market that she was most interested in. It’s that power of networking. It’s working for her already.

It has been interesting because my ladies email me and I love that. Several of them had connected with Real Wealth and a couple got to talk with you and a couple of the guys. Ladies, every single person on their team is unbelievable. I know that all of your coaches are awesome but I did feel that like, “We’re a ladies’ group and we want to talk to a lady.” It was cute when you called me and said, “Would you like your ladies to talk to Leah?” I was bouncing around excited about that. As women stay in the community, we think a little bit differently than men do and our priorities feel a little bit different. It is nice to talk to another woman about this stuff. I’m honored that you’re going to be working with my ladies.

It’s a topic that I know you’re passionate about but I feel financial literacy, engagement hasn’t been instilled in women like it has in men. Because of that, subconsciously, we’re more prone to take the back seat and to let somebody else lead that. I love and am inspired by women who recognize that that doesn’t have to be true and that there is a place for you to engage. If it’s easier to come to that place by engaging with another woman who’s already done it then let’s do that so that we can empower more people to do the same.

Nothing happens till we take action. Click To Tweet

Women are better suited to real estate. We love to nest, love our homes and love creating beautiful spaces. It’s intuitively and naturally one of our powerhouses is this ability to create a home and that’s what real estate is all about. Being able to do that, we can look at the numbers, creating space, to do your research but we get good gut feelings or inspirations about where to where to invest. It can be confusing. Once you look at the numbers, you then can use your intuitive sense, “Three different markets work. Where do we want to start?” Also, neighborhoods and all of that stuff. We are inherently better suited for this business. It seems sad that we’re not as involved as we could be and not benefiting from the amazing cashflow, appreciation and wealth that can be built through this industry.

There’s a lot of pressure too in this space to marry this idea of being a real estate investor and entrepreneur. I’ve had to tell people before and had to slow people down sometimes, I’m like, “You don’t have to make this a business. You don’t have to go and employ people.” I get some people who right out of the gate want to talk about entity formation and the tax structure for their entity formation. I’m like, “You don’t even have a house yet. Let’s slow down. Let’s learn some correlations of cashflow and appreciation. Let’s study some proformas and look at the basic math before we start blowing this up to be some gigantic entrepreneurial idea.” Real estate can be a diversification strategy. It can be passive. It can be a little side hustle hobby that you enjoy doing and it gives you that feeling of power or validation if that’s what you’re searching for. It can be that and it can be small. It doesn’t have to be huge.

It’s interesting because real estate was always my side hustle. I was in corporate, I ran my own businesses and real estate was that thing that I didn’t pay attention to. As a matter of fact, if I had paid attention to it, I can’t even imagine where I would be now. I pay no attention to it and suddenly, I’m worth millions of dollars. There were hard times. 2001 and 2008 was a hard time but through most of it, I haven’t had to think about it and I love that. It’s the side hustle without the hustle. Much of that is what turnkey is all about. It’s about the side creating the side hustle without the hustle.

The opposite of the hustle like people in the blissful business. I do agree with you, people get caught up in what everybody is out there talking about like the entity structuring, taxes and the, “You should be flipping as they do want to HGTV. You can make all of this money. You should have 1,000 doors.” No. You do what’s right for you. I only have 6 or 7 doors because I don’t like lots of doors. I’m in an appreciation market because that’s what I know for now and I’m making a transition cause I want to make a difference. That’s working in my life. You don’t have to do all of those things and all the gurus are telling you to do. You do what’s right for you.

It is prevalent in this space and I’ve always tried to resist against it and own my experience for it being my experience. We all have our scales of risk and reward of what’s right and wrong. It’s up to us to zero our scales and determine, “For me, where’s the risk and the reward here? Where’s that balance?” What we don’t want to do is allow somebody else who’s in a completely different phase, space balance our own scales. Being okay with your process looking a little bit different. If it’s not turnkey, that’s great. Do whatever it is. That’s probably the one thing that I would say is the rule you got to take action somewhere. I’ve heard you say this before, “Goals remain undefined. It’s a dream. It’s not ever going to happen. We’ve got to give ourselves some concrete tactical steps and create a timeline for ourselves so that we step into that.”

The other piece about this and I know that this is true with a lot of us women because we do feel intimidated. We haven’t necessarily had the network or educational support and all of this stuff. You want to know your stuff. You want to get educated. You want to make sure that you’re doing the right thing. You don’t want to look stupid. You don’t want to have lost money. This is what I say to that, everybody in business loses money. Don’t be afraid of it but it also isn’t something that you have to do either. You can make good decisions consistently. I’ve never lost money ever on a real estate project. That’s been many years.

Not everybody has that same track record and it’s okay. When I say that I haven’t lost money, that doesn’t mean that I haven’t had a lot of fear. In 2008, I lost 50% of the value of all my properties, I was underwater on every single one but I didn’t sell, so I didn’t lose money. Let’s all keep that in perspective. That’s what I’m trying to say is that keeping it all in perspective and understanding that you’re going to have to learn along the way. You can do as much research as you want. You can look at as many videos. You can talk to as many people. You can listen to as many podcasts but nothing happens with your wealth or your education until you start doing something because you’ll learn a lot being in there.

I see it all the time. The analysis paralysis. It’s putting a lot of pressure on yourself to know everything. I was talking about this with my husband. I’m like, “Everybody wants to step up to the plate and they want to first swing knock it out of the park.” That would be epic. That would be awesome. I’d rather be the person who is confident who understands it but I’m okay with a base hit. Like I’m going to load up those bases. The better I get at loading the bases, the more my confidence builds. At some point, I’m going to knock it out of the park. When I do, the bases are loaded. That takes the pressure off me to make sure that everything is nailed and that there wasn’t a single thing. Part of what I always try to do is reflect on a situation and look at it, even when I thought it went great, like, “Let’s look at it. What could we have done better next time?” That’s how we wound up in the turnkey space. Evaluating going, “That was good. Nice job,” but how could we refine this? The next time it’d be even better? That’s a sweet spot to stay in.

REW 46 | Passive Income Through Turnkey

Passive Income Through Turnkey: There’s a lot of pressure in this space to marry this idea of being a real estate investor and being a real estate entrepreneur.

 

We are going to move towards the end of this show but before we do that, I want to talk a little bit about Extra because you’ve got some yummy, exciting stuff to offer my ladies. Tell us a little bit about what you’re going to cover in Extra?

The seven steps for new investors is what we’re going to cover. It’s going to be tactical, if I’m getting started, what are the next seven steps for me to do? Starting from let’s think about goal setting down to, “Let’s refine my buy box so that I can take informed action.” We’ll talk a little bit about what those next seven steps are.

I love that. I can’t wait. I love it when we get a breakdown like that, specific steps that we can take. I’m excited about that. Tell us where we can reach you.

We have set up a page on RealWealth.com for the Blissful Investor. You can go to RealWealth.com/Blissful. If you create a login there, we’ve already set it up on the backend so that you’re immediately linked to me as your investment counselor. You can click around once you’re on there. You’ll see It’s very easy to connect with me once you’re logged into your account. We can set up an initial strategy session and get you going.

I know lots of ladies are already in the network and enjoying the benefits. Go check it out and join. It’s free to join. Leah, are you ready for three rapid-fire questions?

I’m ready.

Tell us one super tip on getting started in real estate investing.

Aside from watching our Seven Steps for New Investors, I tell everybody financing is the gas in the tank. We can know where we want to go. We can know that it’s a great place but until we know that we have gas in our tank to take us there, we’re not going anywhere. I always tell beginners, “The first thing you should do is understand your borrowing potential and talk to a qualified lender who specializes in investment loans.”

Women are better suited to real estate. They have the power to create a home. Click To Tweet

What would you say is one strategy for being successful in real estate investing?

We already talked about this a little bit but I think for me, it’s staying curious. This is something that Kathy Fettke does so well. Don’t be afraid to ask questions. I think that could be maybe the flaw of the other genders that there’s sometimes a pride that we have of not wanting to admit when we don’t know something when the reality is, it’s a very good question and there are lots of other people in the room who don’t know it either. Staying curious and not being intimidated to ask for additional information. I see this a lot in our space, people assume that if someone is trying to sell them something that they’re trying to deceive them or trick them into something. I say, “They are humans too and they’re a real estate investor, be curious about their experience, leverage their experience in that market, ask questions.” That has been instrumental to my success.

I was having a conversation with another investor and I ask a lot of questions. He’s doing something that I’ve never done and will never do. It’s a type of construction because I’m doing construction. I am constantly asking questions. At one point, I said to him, “I get that I ask a lot of questions. You can shut me down.” He’s like, “You can send me an email and see when it gets stopped.” It’s so much fun to be involved with someone who’s interested rather than someone that thinks I’m smart and they’re going to follow my instructions. “You’re going to go places because you care enough to figure it out.” I wanted to share that with ladies so that you know people love you asking questions and if it is too much, they’ll say, “I don’t have any answer. Talk to somebody else. That’s too many questions.” You get to there, that’s a good place because that means that you’ve dug deep. Questions are a good thing. They’re good for your business, self-esteem, success and relationships. Leah, tell us one daily practice that you would say contributes to your personal success.

It’s important to reinforce what you want to be replicated. This is true in many different aspects of life, relationships, finances, with children. Focus your energy on what went right and what you want to see happen again. The example that comes to my mind related to real estate is we have a friend who’s wanting to get into real estate for a long time and has talked about it for a very long time and got a property. It’s not going perfect but it’s typical real estate investment problems, the maintenance and phone call. That kind of stuff. He’s chosen to focus on the negatives of that and focus on, “It’s another call. It’s another problem.”

We always try to say, “Let’s make sure that we’re reinforcing all the good things that happened that month.” You got a tenant with no vacancy, you got top market rent for that property. You’re cashflowing well every month. It’s not ideal to have to go and fix this item but let’s reinforce all of the things that went right and that is going right because that’s what we want to replicate in our life. If we focus on all the negatives and on all the things that didn’t go excellent, those can sometimes be an inhibitor to our future progress.

This has been so good. Leah, thank you for all you’ve shared so far.

I’m happy to be here and looking forward to connecting with you ladies.

Ladies, stay tuned for Extra. We’re going to be talking about the seven steps for new investors. If you are already subscribed to Extra, you’re going to get that on whatever device you’re reading to this show. If you are not subscribed to Extra but would like to be go to RealEstateInvestingForWomenExtra.com. You get the first seven days for free, so you can check it out. If you love it, you stay. If you don’t, at least you got a lot of good content. For those of you that are leaving us now, thank you so much for joining Leah and I for this portion of the show. I appreciate you and I look forward to seeing you next time. Until then, remember, goals without action are dreams. Get out there, take action and create the life your heart deeply desires. I’ll see you next time. Bye.

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How To Invest In Real Estate Right Now Even If You Have Little Or No Money With Mike Wolf

REW 45 | Radical Real Estate Revolution

 

We are about to witness what could be the biggest wealth transfer history has ever seen. As COVID-19 takes its ultimate toll despite the palliative measures the government has taken, real estate is going to undergo a radical revolution that might just be your opportunity to get the real estate career of your dreams running. Are you ready to take part in this massive upheaval? If it’s money you’re worried about, you’ll be glad you tuned in to the show right now. Mike Wolf is here with Moneeka Sawyer to teach you how you can start investing in real estate right now even if you have little or no money. An investor who has over 30 years of experience, Mike is as knowledgeable in the field of distressed properties as he is generous in sharing his best practices to budding investors like you. Stick to the end for another generous gift from him that will surely start your year right!

Listen to the podcast here:

How To Invest In Real Estate Right Now Even If You Have Little Or No Money With Mike Wolf

Real Estate Investing For Women

I am excited to welcome to the show, Mike Wolf. He has been investing in real estate for many years. He is also an international speaker, mentor, philanthropist and world traveler. Mike has been featured on all the major TV networks, radio and print publications. He specializes in helping people create passive income so they can enjoy not just financial freedom but time freedom as well. Mike, welcome to the show.

It’s good to see you. How have you been?

I’ve been good. I’m glad we’re finally doing this. Tell us a little bit about your story. How did you get started?

It’s interesting because I get a lot of people that say, “Of course, you can do this, Mike.” They think I came out of the womb knowing how to do real estate. Nothing could be further from the truth. I got into this business totally by mistake. If we go way back in the middle grade twelve, I had no idea what I wanted to be when I grew up. My parents were always talking about doctors, lawyers, that’s all I ever heard. I’m terrified of blood so doctor was off the table right from the get-go. That wasn’t going to happen. Lawyers, you see shows on TV and they always have the fancy offices. I thought that was cool.

I went to a university and got my first degree. With that came a whole bunch of student loans. I decided before I go back and get my second degree, I’m going to get these paid off. I got a job at the phone company because my friend’s mother was a manager there. While I was there, I bought my first home to live in. Shortly after I bought that, my mortgage broker calls me up and says, “Mike, you’re making good money. Your credit is good. I can get you another mortgage if you want to buy another home.” I thought to myself, “Why do I don’t want another home?” He said, “You buy another property. You put tenants in there. They pay down your mortgage and 25 years from now, your home is paid off and that’s your retirement.” I go, “That makes sense.”

I bought a second property and put tenants in there, and two years later the market took off. I was still at the phone company at this time. I’m sitting on all this equity. I remember thinking to myself, “In the last two years, I made this much going into my job, which I don’t like that much. I made this much in real estate and I don’t even know what I’m doing in real estate. If I could do that by mistake, what would happen if I learned how to do this on purpose?” I wish I could say it was smooth sailing after that. I quit my job. I told my parents I’m not going to become a lawyer. My mom was still trying to get me to be a lawyer to this day but that’s all right.

I burnt all my bridges, which I don’t recommend people do. On the next deal, I managed to lose almost everything that I made. On the first one, it was meant to be long-term. That was my 25-year retirement plan. On the next one, I quit my job. I couldn’t wait two years for my next paycheck. I did things very haphazardly. I lost most of what I made. It was a very humbling lesson because back then, I was in my mid-twenties. I’m very cocky at that point because I thought I knew everything there was to know about real estate because I got this paycheck that was pretty sizeable especially back in those days.

Luckily, when I hit rock bottom after messing up, I was much humbler. Instead of being a know-it-all, I became a learn-it-all. I started to seek out and found a mentor. I started to read books on investing. I started to learn how to do this stuff as opposed to winging it. If I haven’t gotten humbler and looked for help, I’d be here maybe talking about real estate law not as an investor, but as a lawyer. I’m very grateful that I had my lessons early on.

It’s funny how many people who’ve been on this show started in real estate by accident. Ladies, I want you to know that. That’s how intuitive this is. In a lot of cases, getting started can happen. I love what you said about finding a mentor to grow and scale, and turn it into a business. I never turned it into a full-time business where it had to pay the bills until now. I’m in that transition, but now I’ve got a huge amount of equity to work with. There are different ways to do that. Could you talk to us a little bit about the last recession? I know that you have some ideas about what’s going to happen in the market and what’s coming up. I’d love to hear a little bit about that and your company that you called Foreclosure Fixers. That was what attracted me to this conversation.

Back during the last recession, a lot of people lost their shirt, unfortunately. I’m talking about investors now. Everybody was affected by it in some way, shape or form. I don’t like the term real estate investor. I prefer the term problem solver because that’s what we do. When people put their home on the market, there’s always a story behind it. Nobody wakes up one day and randomly says, “I think we’ll toss a for sale sign in the lawn.” There’s always a story behind it. Either they’re moving up, moving down, being transferred, or getting divorced. There’s always something behind that. The more problems we know how to solve and the more people we can help, the more we get paid. In this business, the best way to do it is win-win.

The best way to do real estate is win-win. Click To Tweet

Every time you do a transaction, the person on the other end of that deal should also be benefiting. The goal should not be to look for some little old lady who has no idea of the value of her home, steal it out from under her, and leave her homeless. That’s not the goal of this. Back in the last recession, you’ve probably seen those postcards, “We buy homes, we buy ugly homes, we’ll pay cash for your home.” During the last recession, I went at it from a much different angle. I hired an attorney to learn the foreclosure laws inside and out. I sent out marketing materials that said, “We can help stop the foreclosure.” That was what the Foreclosure Fixers business was all about. There were two different types of people that would call me.

The type one person is sometimes bad things happen to good people. I can’t think of a time where there are more bad things happening to good people right now with COVID. Back in those days, a lot of people were losing their homes. A lot of people would have never dreamed of not missing their payments but sometimes things happen. Those type of people quite often lost their job, but then they found another job. Maybe they couldn’t get caught up on all the arrears. They may have been behind $5,000, $10,000, $20,000. They couldn’t get caught up on it, but now they can afford the monthly payments again. For people like that, quite often I would go in and I’d help stop the foreclosure. I’d loan them the money to pay off the arrears and they would pay me back with some interest. I’d help them stay in their home.

There’s the second type of person. Those are people that like to keep up with the Joneses. They like to quite often live way beyond their means. I remember when I used to do my own property management. Never do that, by the way. My tenants always had nicer TVs, better stereos. They had better everything than me. My book collection was a lot better than theirs but everything else that they had, all the material things are always better. There are lots of people that like to live way beyond their means. People like that, if you loan the money, you’re never going to see that money again. It’s going to disappear. For people like that, I give them what I call a soft landing. What I mean by that is instead of stealing their home out from under them and getting that home run, I’d always make sure that they had the money for damage deposit, several months’ rent, and money for food. I put them in a much better position than if they lost the home to the bank.

Sometimes I do a joint venture with them. I’d say, “You’re going to lose your home to the bank but why don’t we fix it up? Put it on the MLS. I know you don’t have the money to fix it. I’ll put up the cash to fix it. When we sell it, I’ll get some of the profits since I’m putting up some money but you’ll walk away with something instead of nothing.” I always looked for what was the best solution for that person on the other end of the table from me. I want to make sure that they’re in a better spot. What was interesting is that I wouldn’t get the home run. I leave some money on the table for the other person, but if they lost their job, they probably know five other people that they used to work with that lost their job too.

They start sending me their friends, and their friends would send me their friends. I never had to look for clients. Instead of getting that one home run, I always have more clients coming down the pipeline and we managed to help a whole lot of people. One of the reasons I’m so passionate about what I do is that when you help people with their financial problems, it’s like the tip of the iceberg. There’s a whole bunch of things below the surface. If they’re struggling financially, it’s almost guaranteed the relationships are there. There’s fighting going on. They’re probably stressed and depressed. Their health isn’t good. You’re fixing a whole bunch of different things. It’s not just the money thing that you’re fixing.

I remember I had one lady back in my Foreclosure Fixer days. She called me after I’d given her the soft landing. She said, “Mike, the day that I got your marketing materials, I was thinking of killing myself that day.” I don’t take very lightly the stuff that I knew. It’s not just about flipping homes. It’s about helping other people and getting paid for it. That’s why I love this business. After many years, I still wake up excited to be in this industry and that’s why.

This completely reminds me why I was excited to share you with my ladies. I heard the story the first time and this time it still chokes me up. It’s so good because I do think many people that teach about real estate investing want every last nickel that they can get. I like you, Mike. I want everybody to win. I’m focusing a lot on construction. When I buy a property that I’m going to tear down and build something else, I want to make sure that they’re getting paid market value. If they’re not getting paid market value, they’re not happy. The numbers have to work for me too, but I’m not going in there trying to low-ball them like all the other contractors are. What that means is that my profits are a little bit less but they’re getting taken care of, I feel good about what I’m doing. I still make quite a lot of money. My margins are a little bit lower. You can still make good money by being good out there. You can be kind. You don’t have to nickel and dime people. I hate to say this but I feel like it’s ripping them off.

We’re still reliant on our teams. When you have their back, they’ve got your back. I did a TED Talk and that’s one of the things I talked about, happiness and fulfillment. You can’t put a value on that. Going to bed at the end of the day and being able to sleep well and knowing that you helped somebody, that’s a much different feeling than, “I got this big paycheck. I wonder if that guy is homeless now. I made a lot of money but my team is struggling.” I think when everybody wins, you get in the flow and everything falls into place almost by magic.

It’s more gratifying. I talk so much on my show about bliss, and bliss isn’t about money. Bliss is about how you feel. When you’re in the business of making money so that you can create wealth, so that you can live the lifestyle, there’s still a disconnect. If you’re building a business that also makes you feel good and you feel good about what you’re able to do with your life, now you’ve got a full picture. You feel good in your business, you feel good in your life. It’s all working. If you have this disconnect where one is outside of yourself, it’s all about the money. There’s no gratification other than the money in that business. It’s not going to support and carry into the rest of your life. It will give you the financial means. When we talk about bliss, it’s about the support of your life and all aspects of your life.

When you do things right, you get this balance and your team will stand up for you. They’ll go above and beyond. This is a people business. I think it was Zig Ziglar that said, “How you show up in one thing is how you show up in everything.” Whether it’s the Uber driver or the server at the restaurant, every single person, it’s important to make that other person happy no matter what that is. Your teams, more than anybody, the people on the other end of that transaction. Everybody should walk away happy and wanting to keep doing it over and over again as opposed to, “I made an extra few thousand dollars on this paycheck, but that guy’s never going to work for me again. This guy’s still working for me but he hates me. The first chance he gets to jump ship and go somewhere else, he’s going to do that.” This is definitely a people business. The better you treat people along the way, the easier it’s going to be for you too. It all fits together. It’s like a puzzle. You have to take care of everybody along the way that helps you to get to the point that where you want to be.

REW 45 | Radical Real Estate Revolution

Radical Real Estate Revolution: Real Estate is a people business. The better you treat people along the way, the easier it’s going to be for you too.

 

I know we’re going to do a deep dive in Extra a lot more about the economy and what to expect. I’m excited about that conversation, but can you give us a high level of what we’re foreseeing and also what strategies might work in the coming months or years given our economy?

We’re definitely heading into some interesting times. If I had to sum up the highest level of what we’re going to see, it is probably going to be the greatest transfer of wealth in history. When I say transfer, the money is not disappearing. It’s not going into thin air. I think of those snow globes, those things you shake up and the little snowflakes fall from the top to the bottom. Imagine those are $100 bills instead of snowflakes, that money is falling from the top. We’re seeing a lot of people that were in an enviable position. Imagine you owned an office space in downtown Manhattan. In 2019, that was like you’re on cloud nine. These days, you’ve got a lot of headaches. There are a lot of people not going to offices. A lot of things shut down. A lot of businesses are never going to go back to how they used to do business.

That money is trickling down somewhere and it might as well be you who gets it. The way to get that is to educate yourself and take these downtimes. There are a lot of places that are unfortunately, back in lockdown again. There are stay at home orders at some places. How are you using that time is going to dictate how things look for you a year from now and five years from now. If you take the time to educate yourself, that transfer of wealth could be transferred down to you. In terms of what opportunities, we have this big moratorium on foreclosures and I’m glad. I’d hate to see banks throwing people out on the streets in the middle of a pandemic.

That would not be good. That’d be horrible but that’s not going to last forever. The government is sending out stimulus checks. That’s not going to last forever. What we’re going to see, and one of my favorite strategies for many years has been tax deeds. What a tax deed is when people haven’t paid their property taxes in a number of years, the county forecloses on them. The county needs that money to keep its schools, hospitals and the police force open. Eventually, they put these homes up on the auction block after 2, 3, 4 years of nonpayment. My favorite auction takes place in Houston, Texas and it’s been shut down now for a good 8, 9 months. Normally, on any given month, there are usually 500 to 1,000 homes that change hands.

You multiply 9 months times 500, that’s a lot of homes that are backlog that never went up on the auction block yet. You added that to the fact that there are a whole bunch of homes that would have been foreclosed on in addition to those, and they haven’t been foreclosed on yet. What we’re going to see is a whole lot of opportunity for people that know how to do that strategy properly. Don’t attempt that strategy if you don’t know what you’re doing. It’s very lucrative if you know what you’re doing and you will lose your shirt if you don’t. If you know how to do that, there are lots of opportunities there. One of my favorite strategies if I was starting out, we’re getting a whole lot of people in preforeclosure.

That’s not yet but that’s coming down the pipeline. Every month when we look at that auction and most of the auctions across the country, they publish a list somehow. Some of them are online. Some of it’s printed. Some you have to subscribe to. They all publish a list of all the homes that are going for auction. Most people that go to those auctions take a look at the list, do their due diligence, show up at the auction and win whatever they win. For me, when I see that list, that’s a list of people that are in trouble. That’s a list of people that need help. They are three weeks to a month away from losing their home usually over a very small amount of money.

One of my students picked up a home for $7,200. Somebody lost their home over $7,200. That’s a list of people in trouble. Those are the people that I would send my Foreclosure Fixers flyer to and try to help them, try to give them a soft landing, help them stay in their home, stop the foreclosure. I’m going to try to come up with a solution for them before it ever makes it to the auction. Not everybody is going to reply to your marketing. There will be a lot of people that unfortunately, their home will struggle on the auction block. I call this a trifecta. The first thing I’m going to do is try to help them before it goes to auction. That’s number one. Number two is I’m going to go to the auction. In my case, I have a team that goes to the auction for me and my students.

I don’t go myself anymore, but I’m going to try and pick up those properties for pennies on the dollar. The third part of the trifecta is a very little known strategy called overages. What that is, when a home goes up for auction, if the opening bid is $5,000 and let’s say it sells for $50,000, that first $5,000 belongs to the county fair and square. The additional $45,000 belongs to the previous homeowner. Few homeowners have any clue this money is owed to them. The county makes little attempt to track down these people and get them this money because after there’s a statute of limitations and certain amounts of time, that becomes their slush fund. They can do whatever they want with it. Imagine you lost your home over $5,000.

That was the only thing stopping you from saving your home, $5,000. Somebody approaches you and says, “I know somebody owes you $45,000. If you’re willing to split that with me, I’m willing to get you this money. You don’t pay me unless I’m successful,” and you can negotiate with them. He might take 20%, 30%, 40%, whatever it is that you negotiate, but you’ve helped somebody who probably lost their home over that small amount of money. They are either moving in with relatives or homeless. They are in a bad spot. You reunited them with a pretty big chunk of cash. There are billions and billions of dollars owed to people all across the country. The great thing about these strategies is this last one requires almost no money.

For those people who are thinking, “I’d love to get into real estate but I’ve got no cash.” That one requires very little money or no money. You might have to pay to get the list. There might be some minor expenses here and there, but for the most part, you can do it with almost zero. Going to auction, I’ve had students pick up properties for $7,000, $8,000, $9,000. You need a little bit of money but it doesn’t have to be your money. The first part, giving people a soft landing or if you find somebody who has a bad position in pre-foreclosure, you can do something called wholesaling. You don’t have to have a whole bunch of cash. You put the home under contract. You contact somebody like myself or you and say, “I found this good deal on a property. I don’t have the cash to do it but I will assign that contract to you.”

When everybody wins, everything falls into place as if by magic. Click To Tweet

What you’re doing is if you’ve found a good deal and you said, “Mike, I found this deal that you’re going to make $100,000 on. I’ll sign it to you for $20,000.” I’ll trade $20,000 and make $100,000 all day long. I know you would too. For people thinking, “I can’t get into real estate because I’ve got no money,” there are many different strategies that you can do that require a little or no cash, and you can go help somebody else on the other end of that transaction and create a win-win.

I love your compassion for people. All three of those strategies I was like, “I want to do that.” That was amazing.

That’s the tip of the iceberg. I got so many more in this program. I can talk for days.

Tell us about the program. Ladies, I’m excited about this. I wanted to share, he’s got a three-day seminar. It’s called Mike’s Wealth Mastery. Tell us a little bit about that and what you cover.

Let me tell you how it all started. Before COVID, I was pretty much retired. I would do 1 or 2 live events a year. They’d be 3 or 4 days long. I take people to Houston, Texas. We’d spend four days. I show them how to do tax deeds inside and out. I’d give them my teams. They don’t have to keep going back to Texas. After the four days, I’d hop on a flight. I’m usually very nomadic when borders are open and airplanes are flying. When COVID hit, it grounded me. I went back to Canada where I’m from because that’s where my grandkids and my daughter are. I spent seven months there. While I was there, I got talked into it. When I first got back, I was sleeping in every day, taking it easy, watching Netflix like everybody else. The phone started to ring and lots of podcasts, summits, radio shows, and people wanted to know what’s happening with the economy. What’s happening with real estate? I could tell there are a lot of people that are very worried about what’s coming up.

A friend of mine does a three-day summit. She brought me on as a guest speaker. I was supposed to speak for 45 minutes. She teaches wealth but not the real estate side of things. It was supposed to be 45 minutes. There are so many questions. I ended up speaking for two hours. She said, “Can you do a special event for my people in the afternoon?” I go, “Sure, no problem.” I did that and then she said, “Why don’t we do a three-day for my people.” I go, “Okay, fine.” The next thing, now I’m doing a year-long group coaching program. COVID is doing weird things. I went from retired to never having worked this hard in a long time, but I’m loving it. This three-day event that’s coming up, when I first heard they were shutting down the global economy, I’m going, “This is going to be a nightmare. There’s going to be a lot of people in trouble.”

I started thinking, “I’m going to set up my Foreclosure Fixers again because there could be so many people needing that.” The universe kept putting all this stuff on my plate that made it very obvious that I needed to make this bigger. I might be able to set up Foreclosure Fixers and help 50 or 100 families. When I started to get on all these podcasts and summits, I realized what if I were to do a training and teach people some of the strategies that I talked about and a whole bunch more? I’ll put these people on the front lines and created a movement of ethical real estate investors that were on the front lines, finding people in distress, helping them and getting paid for it.

This is going to be my fourth time doing this event. The first time I did it, it was $997. We got amazing feedback but I also got some people saying, “I don’t have a job right now, $1,000 is a lot of money for me.” I’m not making a ton of money off this event, even $1,000. When people come to my live events, it’s a lot more than that. I decided I want to help get as many people trained as possible. The three-day event is $97. It’s three full days of content like teaching some of the strategies I talked about inside and out and a whole bunch more, teaching how to do deals. It’s mostly focused on how do you do deals with little or no cash.

I know a lot of people are reinventing themselves. They’re not working, their business shuts down. They’re not in a good spot financially. How can I help the people that tune in to get to a better place and have those people help other people get to a better place and create this ripple effect? It’s $97 for three days. It’s been very successful and I’m proud of these events. I never would have done if it weren’t for COVID. It’s allowed me to help a lot of people so I’m super excited about it.

What strategies specifically do you cover at that event? Is there too many to list?

REW 45 | Radical Real Estate Revolution

Radical Real Estate Revolution: There are many different strategies that you can do that require a little or no cash, and you can go help somebody else on the other end of that transaction and create a win-win.

 

We’re going to talk about fix and flips, passive income, wholesaling, subject-to, the list goes on and on. How do you use technology to generate leads? A lot more about how I did the Foreclosure Fixers business, and talk about marketing and how people can emulate and copy exactly what I did. You don’t have to reinvent the wheel. Pretty much all the strategies that are going to be the most effective. When something like this happens, when you have a pandemic or a major change in the economy, what worked a year ago is not what’s going to work now. It’s going to be totally different.

It’s focusing on the stuff that you can do even if you can’t get out of your home, you can’t go look at properties. There are stuff you can do from your computer. Getting the most relevant strategies for these crazy times that we live in. My goal is to teach as many people as possible. Wherever you’re at whether you have money, whether you don’t have money, we’re going to teach you the different strategies to get you in this business and the stuff that’s going to work.

It’s $97. Do you record it? For instance, I know that weekend is my mom’s birthday. I would have to miss it if I were to attend. Will you be recording it and stuff?

I’ve got to check with my team. We have been selling recordings in the past. I’m not sure what the price point is on those. It’s funny because I have teams that delegate to me. They say, “Mike, where’s that video?” They set all this stuff up. I believe this event is going to be $247 but because I said $97. The last one was $97. We’ll honor that for your people. Remind me to make sure that we give you a discount code for your people for $97. We’ve been trying different price points because we want to get people to show up. I’d let people on for free but people don’t put a value on what they get for free, and they don’t show up. If they get it for free, they don’t show up because you don’t put any value. We’ve been testing different price points. We started at $997, and then we did the next few at $97. We’re going to try going a little bit higher but they’ll be $97 for your people.

Let’s use a coupon code and that’s BLISS.

That sounds good. Remind me and I’ll get my team to do that because I don’t know how to do any of that stuff.

I’ll go ahead and email you this stuff. There are a couple of things. That’s the event. Do you want to do a link for that event? I’ve got one for your free gift but let’s make up one for your event also. Let’s do BlissfulInvestor.com/mikeevent. What do you think?

That sounds great. As long as you remind me, that’d be good.

We’re going to do that. It’s going to be BlissfulInvestor.com/mikeevent. The code to get the ticket for $97 is going to be BLISS. That is going to be on March 12 through 14, which is a Friday through Sunday in the middle of March 2021. That will be awesome. Thank you for that. I also know that you have a free gift for everybody. Did you want to talk a little bit about that?

I got to thank COVID. In all seriousness, it created a lot of extra time in my schedule. Normally, I’m catching flights and bouncing all over the place. At the time I settled down, one of the things that I did is I wrote an eBook on the top strategies that are working right now. It’s called the Radical Real Estate Revolution. I’m happy to give it to your followers for free. It talks about some of the things you can get started in that are working. I wrote it while locked down. All the strategies or things you can do from your sofa. If you turn off Netflix for a few minutes, this is the stuff that you can do while you’re on your computer.

Focus on having balance in your life and life will become magical for you. Click To Tweet

The book is called Radical Real Estate Revolution: The Top 7 Ways to Invest In Real Estate, Even If You Have No Money. The link to get the free report is going to be BlissfulInvestor.com/mikewolf. That’s where you can get the free report. That was generous of you. Thank you for that.

The goal is to help as many people as possible. There are many people that they’re going through a lot of stuff, a lot of transformations. I feel like a lot of people are losing hope, unfortunately. If I could share what I have in here, they’d be optimistic about the future and what’s coming up. There’s going to be a lot of people struggling but if we’re problem solvers, that’s an opportunity to help them and get paid for it. We have great times coming up ahead. There are going to be a lot of people that are needing our help. If I can help the people that are reading, and they go help some more people, who knows how many people those other people can help too. It trickles down.

It is the ripple effect. You help ten people, each of them helps people like that. It’s amazing what we can do. Thank you so much for that. In Extra, we are going to go on a deep dive into what Mike is foreseeing in the economy. We’re going to do a deeper dive on that. He talks in the show all over the place about that. I’m interested in his viewpoint. He gave us a high level here, but we’ll do a deeper dive on that in Extra. Before we go to the next show, are you ready for three rapid-fire questions?

Bring it on. I get excited and get passionate. I talk for hours. I had to keep it rapid but no guarantees.

Give us one super tip on how to be successful or how to get started in real estate investing.

The first thing that I would do and the thing that I didn’t do is I would get a mentor right off the bat. I wouldn’t mess around and lose a whole bunch of money and then realize, “I need a mentor.” I’d get the mentor right at the beginning. I’m proud of myself. I did a good job.

What is one strategy in being successful in real estate investing?

The biggest thing is all here. The most important piece of real estate is right in here. I’m pointing at my head and I’m talking about mindset. Mindset is the most important thing. For me, the biggest thing is gratitude. I know it doesn’t sound like it has anything to do with real estate but when you are grateful for where you’re at and what you have. There are people that no matter what they’ve got, they’re never happy. They finish that one big thing that they’ve been trying to do, and then they’ve got the next thing and they’re not even grateful. Start to practice gratitude. Every morning write down the things you’re grateful for.

I do a lot of volunteering. I went to a place called Vanuatu, which are these islands in the middle of the South Pacific between Australia and New Zealand. They had got hit by a hurricane. Myself and several other entrepreneurs who raised a bunch of money bought a bunch of water filters and gave them clean drinking water. After you see people don’t have clean drinking water, when you come home and you turn a tap and magically water appears, you can never be ungrateful. You have something to be grateful for. If you are reading this right now, you have a lot to be grateful for. You have a computer, Wi-Fi and technology. We have so much to be grateful for. I know it doesn’t sound very real estate-esque but that’s the secret. It’s practicing gratitude. Setting goals for where you want to get but being happy for where you’re at too.

That’s one of my big tenets of real estate. I call it the master key of bliss, is gratitude. Thank you so much for sharing that. What would you say is one daily practice that you do that contributes to your personal success?

REW 45 | Radical Real Estate Revolution

Radical Real Estate Revolution

Since I answered it for the second one, I’m going to give you a different answer. The other thing that I do, and this is what I talked about on the TEDx stage. When I was younger, I was always chasing money. I became a workaholic as a result of it. I didn’t mind it because I’m very passionate about real estate. I certainly was back then when I was younger. I was extra passionate because I love being in the trenches. Now I’ve got grandkids, my priorities have changed. For me, every day I wake up, I figure what makes me happy. Instead of figuring out how do I make more money, it’s what can I do to make myself happier?

That’s why I travel a lot because that’s one of my favorite things to do or hanging out with my grandkids, spending a lot of time with them. When my daughter was growing up, when I was a workaholic, I did not spend nearly as much time as I should have. If I could go back, I would definitely change that. Happiness for sure and then fulfillment. To me, fulfillment comes from helping other people. That’s why I do a lot of philanthropy and a lot of giveback projects. I love to help other people because, at the end of the day, I do it selfishly because it’s a win for the people that you help. When I do it selfishly, I’m seeking more fulfillment in my life. Those are the things that I do every day. I look for where can I create more happiness and fulfillment for myself and for others. How can I go help other people? That’s what I would do. Don’t ever become a workaholic. Don’t ever let your business get in the way of family and your health. If you don’t have those other two things, it doesn’t matter how much money you’ve got in the bank. Focus on having that balance in your life, and life will become magical for you. Every day you wake up excited and happy.

It’s as if you’re repeating what comes out of my mouth all the time. Thank you for validating.

There was a time in my life where I had plenty of money in my bank account but everything else around me was falling apart. I had the big house and all the toys and I wasn’t happy. I wasn’t lit up. I was thinking, “I did everything that my parents told me. I got the degree and I did this and I did this. I did all things I was supposed to do.” This is all there is. I got this material stuff but that lights you up. You get the new car and for two weeks you’re excited about it. After that, it’s not a new car anymore. You need that next thing.

It’s like a drug. You need that next thing and the next thing. You get caught up on this treadmill where you’re always chasing after more money to get that other thing. I’m glad those days are behind me now. I love being a nomad because I got rid of a lot of my stuff that I worked hard to get. It was still good to get rid of it. Now I travel with a couple of suitcases and almost everything else, I got rid of it and it feels good. Focus on the things that are important in life. If money was no object, what are the things you would do? I’m pretty sure, for most people, it wouldn’t be to go to a job that you hate every day. Find those other things, get your money in a good position, put that on autopilot, which is some of the stuff that I teach, big passive income, and then focus on the things that matter in life. When you say success, success to me isn’t money. Money is part of it for sure. To me, success is having a well-rounded, healthy, happy, and fulfilled life.

Thank you for that. Ladies, we are going to be talking more about the economy specifically and what Mike foresees for us in Extra. Mike, thank you so much for joining us for this portion of the show, for what you’ve already shared. It’s been amazing.

Thank you for having me. I am grateful to be here and I appreciate you so much.

Thank you, Mike. Ladies, thank you for joining Mike and me for this portion of the show. In Extra, we’re going to be talking about the economy and what we can expect. If you’re not subscribed to Extra but would like to be, go to RealEstateInvestingForWomenExtra.com and you get the first seven days for free. You can check it out and see if you like it. Download a bunch of episodes or listen to them. If you love it, stick with it. If you don’t, no obligation at all. I have to say that I love these conversations, and I have the conversations that I want to have.

They are so juicy and full of great content. It’s like a quick pick me up, something I can do to make my world better. I love Extra. Ladies, definitely check that out. For those of you who are leaving us now, thank you so much for joining Mike and me for this portion of the show. I look forward to seeing you next time. Until then, remember, goals without action are just dreams. Get out there, take action and create the life your heart deeply desires. I’ll see you soon.

Important Links:

About Mike Wolf

REW 45 | Radical Real Estate RevolutionMike Wolf is a self-made freedom lifestyle entrepreneur, multimillionaire investor, and international speaker.

He has been investing in real estate for almost 30 years and has been involved in several other entrepreneurial ventures.

 

 

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To listen to the EXTRA portion of this show go to RealEstateInvestingForWomenExtra.com

To see this program in the video:

Search on Roku for Real Estate Investing 4 Women or go to this link: https://blissfulinvestor.com/biroku

On YouTube go to Real Estate Investing for Women

What’s going to happen with real estate post-covid with Mike Wolf

Today I’d like to welcome to the show our guest  Mike Wolf.

What would you do if you didn’t have to worry about money?

Mike Wolf has been investing in real estate for 31 years. He is also an international speaker, mentor, philanthropist and world traveler. Mike has been featured on all the major TV networks, radio, and print publications.

He specializes in helping people create passive income so that they can enjoy not just the financial freedom but time freedom as well.

The Real Estate Preacher podcast shares his successes (and failures) along with proven strategies and techniques to build systems that work so others can achieve their own 7-figure incomes and abundance.

In this episode of EXTRA we talked about:

  • What’s going to happen with real estate post-covid
  • The indicators that show how the markets will move
  • Markets that are likely to perform.
  • What kinds of strategies will work best.

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Learn how to create a consistent income stream by only working 5 hours a month the Blissful Investor Way.

Grab my FREE guide at http://www.BlissfulInvestor.com

Tapping your way to your outrageous goals with Ellen Anne Shapiro

Ellen Anne, is a money mindset & business coach. She helps women clear their hidden money blocks, fears of success and visibility, and break through their inner income glass ceiling, so they can earn what they deserve, and create the income and impact they’re here to make.  She brings her two careers to this work—her financial background (MBA/CPA) and coaching career with multiple certifications including Tapping Into Wealth Coaching, Energy healing, and the Art of Feminine Presence.

In her VIP days and coaching Ellen uses fast-working laser techniques for clearing  money blocks, feeling undeserving, impostor syndrome and other obstacles.  Her compassionate, non-judgmental presence is a healing antidote to the shame and self-judgement so common around money–and comes from years of working as a healer and her personal money journeys through post-inheritance trauma, bankruptcy and reinventing herself after personal and business losses.

In this EXTRA we talked about:

  1. How to deal with your resistance to goal setting
  2. We do an actual tapping exercise to help you release the blocks holding you back from reaching your outrageous goals.

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Learn how to create a consistent income stream by only working 5 hours a month the Blissful Investor Way.

Grab my FREE guide at http://www.BlissfulInvestor.com

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