Next-Level Income: How To Get Ahead With Your Real Estate Investment With Chris Larsen

Are you ready to take your investing to the next level? In this episode, Chris Larsen, founder of Next-Level Income and author of Next-Level Income, How to Make, Keep, and Grow Your Money Using the ‘Holy Grail of Real Estate’ to Achieve Financial Independence, talks about how you can capitalize on the real estate market. He shares what’s needed to know about investing and how you can get started on your journey.  You’ll learn how to save money on taxes, invest in real estate, and make even more money faster than ever before. Tune in right now and learn what it takes to get ahead!

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Next-Level Income: How To Get Ahead With Your Real Estate Investment With Chris Larsen

I am so excited to welcome back to the show my friend, Chris Larsen. Hi, Chris.

Moneeka, great to see you again. Happy New Year.

It’s the first show I’m doing in 2023, so I’m so delighted to have Chris here to start my year off with me. You have met Chris before. He talks about syndication. We’ve had a webinar with him before. I wanted to bring him back because his business has greatly expanded, and he’s offering some new things to help you create passive income. I wanted him to come back and talk about all this new exciting stuff. For those of you who have not yet heard of Chris, let me tell you a little bit about him.

Chris Larsen is the Founder and Managing Partner of Next-Level Income. Chris has been investing in and managing real estate for many years. While still at college, he bought his first rental property at age 21. I love that because that’s how I was. From there, Chris expanded into development, private lending, buying distressed debt, commercial offices, and ultimately syndicating multifamily properties. He began syndicating deals in 2016 and has been actively involved in over $1.5 billion in real estate acquisitions. Chris is passionate about helping investors become financially independent. I’m so excited to have you back, Chris.

Next-Level Income, How to Make, Keep, and Grow Your Money Using the ‘Holy Grail of Real Estate’ to Achieve Financial Independence by Chris Larsen

Thank you so much. It’s great to see you. I love the smile.

In this episode, you’re going to be talking about the Next-Level framework. Chris used to be a coach. Much like me, other parts of his life are now creating changes for him. He’s creating a framework, and he’s going to tell you all about that. Give us a high level of your story.

One thing I love about you, Moneeka, is our stories are very similar in terms of starting with residential, and I was fortunate enough to be introduced to bigger commercial projects later on. My initial passion earlier in life was racing bicycles, and that’s all I wanted to do. I talk about this in my book, which, if you didn’t get it the first time I was on the show, you can get it on our website NextLevelIncome.com/Book. Let me know if you get a copy there that you read me on Moneeka’s show. I talk all about this. That was my love. That was my passion.

My best friend, I met through cycling. I went to college for Biomechanical Engineering, but I just wanted to graduate, turn pro, and race my bike. Along that path, my friend passed away, my best friend, my roommate, and my training partner. It affected me in multiple different ways when you lose somebody. In my case, he was like a brother. After it sunk in, it made me realize something. It made me realize that I didn’t want to have any regrets in life. I wanted to be able to live life to the fullest. I’m a very analytical person.

When I looked at that, I said, “How can you do this? How can you take advantage of opportunities?” The thing is, this is the truth. You have to have money in this world to be able to take advantage of opportunities. Sometimes, that’s spending more time with your family. Sometimes, it’s taking a business risk. Sometimes, it’s spending time to volunteer. Sometimes, it’s actually giving money. Dan Sullivan, who runs Strategic Coach that I was a part of for several years, likes to say, “If you can write a check for it, it’s not a problem.”

After my friend passed away, I quit cycling at the time and racing. I decided I was going to embark on a journey to become financially independent. I read book after book, over 250 books. I was investing in the stock market, but ultimately came upon real estate, as everybody’s figured out by now, I’m sure. After making a lot of mistakes over fifteen years, I ultimately started investing with other operators in commercial real estate, specifically multifamily. That was what gave me my path toward financial independence.

Now, I was making a lot of money. I was working as a medical device rep. It’s all different types of roles in sales in the medical device field. I was on call. I worked a lot of hours. I worked sixteen days. I worked seven months straight one time without a day off. I spent three days straight sleeping in the hospital. I worked really hard in my life, but I had a plan and a path. What I’ve done is I took the framework that I used that I was teaching my coaching clients one-on-one that would pay me $30,000 a year, and I put it into a course. I’m going to give everybody a high-level overview of what we teach in that course, a real CliffNotes version of what you can do to become financially independent in your own life.

I love that. That’s why you’re here. Chris is going to be giving us a high-level on this. We are going to do a deeper dive in a webinar on February 2nd, which is a Thursday. It will be our first webinar of the year with me. I’m so excited about that. Chris is going to be with me on that. It’s going to be Thursday, February 2nd from 1:00 to 2:30 PM Pacific Time. If you’re reading this later, there will be a replay. You can go to the same URL, which is going to be BlissfulInvestor.com/SixFiguresWebinar.

Preemptively, I wanted to tell you about that. As you’re reading this, if you’ve got questions, jot them down. He’s going to be live with us in a couple of weeks, so you could ask all sorts of questions then. Chris, go ahead and take it away. I just want to comment on the Make, Keep, Grow idea that I know you’re going to be introducing to my audience. I love that. It’s such a big piece of how I’ve structured my business, and how most real estate investors who reach a certain level of success start to look at things. Readers, I want you to understand that this is a little bit of an advanced concept, but it’s not only for advanced people. In other words, you can take these concepts right now, even if you’re a beginner, and build your entire business based on this concept of Make, Keep, Grow. Go ahead, Chris.

I have two young boys. I like to be able to teach concepts and talk about concepts that my boys can understand because I was explaining this to my son. We’re going to the bank, and I was depositing a very large check from a deal that I just sold. I explained to him how that large check started at $3,000. If you hear $100,000 or $1 billion in real estate transactions, and your eyes glaze over, or you’re like, “This isn’t for me,” I started with $3,000 for my first property.

These deals are still available nowadays. You can still find good deals. You can still find deals that are going to work for you. Whether you have $3,000 in the bank, $30,000, $300,000, or $3 million in the bank, all these concepts work. I know a lot of you that are reading are very successful. You’re making lots of money. A lot of you have careers that you love. I got to work with a lot of doctors and surgeons in my career, and I have a lot of investors from that. A lot of them say, “If I won the lottery, I would still go to work because I love what I do.”

If you’re a doctor and reading, God bless you because it has to be a passion that you really have to love what you do. It’s such a lifestyle. The first thing, and I talk about in the book and my course, is to find a way to make more money. The reason I say that is because a lot of the best investments out there are reserved for those that are accredited investors. That means you have to make $200,000 or more in annual income as an individual, $300,000 as a couple, or have a net worth of $1 million, excluding your personal residence.

Next Level Investing: A lot of the best investments out there are reserved for those that are accredited investors.

There are a couple of little nuances there that you may be able to get in. The bottom line is if you can make more money and you’re accredited, a couple of things happen. 1) You have more money and more capital to invest. 2) You have more opportunities because now you’re accredited. The SEC says, “You’re allowed to invest in some carwash opportunities or the new RV and boat storage opportunity that we just launched that not all investors who are out there get to have access to.” That’s the big thing.

I was successful and I was making money, but I wanted to be more efficient so I could have more time with my loved ones. One of the things we teach in the course is how to set goals, figure out what’s your worth, and delegate or get rid of those little distractions. One of my favorite things is how to create 20 to 40 hours more a week to spend with your family, do things that you love, or start a side hustle.

If you’re reading and saying, “Chris, I’m not at $200,000,” if you’re at $50,000 or $100,000 of annual income, if I could give you 20 or 40 hours more a week, could you make another $50,000 a year? Could you make another $100,000 a year? Could you maybe start a business that creates some passive income for you? Where we start is, “How do you become more efficient with your time, more effective with your time, and ultimately grow your income?” If you’re reading, and you’re making seven figures a year already and you say, “I’m good, Chris,” you can skip right through that section if you want to.

We start with making money. There are a lot of different ways that we can think about making money, too. The richest people in the world say they have an average of seven streams of income to make that money. I’ve said this on the show before. Because you have seven streams of income does not mean that you’re working seven jobs. It simply means that you have seven different streams coming to you from decisions that you have made. If you have a job that you love, that’s one stream of income. If you are investing in real estate, let’s say you have a portfolio of investment properties, that’s another stream of income.

I can talk to you a little bit right off the top of my head about what they are for me. I am a real estate investor. My rental properties make a particular stream of income. I have a bunch of notes that have brought me a stream of income. My husband invests quite a lot in stocks. That’s the part that he manages for our portfolio. I have a stream of income there. His income is a stream of income. My sponsorships from this show are a stream of income. Notice that I’m not fully involved.

You have a book.

I have a book. That’s a stream of income. The show I consider myself a media personality piece, which includes being an author and speaker, that is that stream of income. This is a secret, and I’m going to talk to you about this later, but I have also gone into high-return investments, which include Forex, crypto, and NFTs. All of that high-return stuff is also a piece of my income, and I’m getting a huge residual on that, too. That’s a very high risk, which is why I don’t normally talk about it because high risk also means high return. High risk, in this case, it’s the same thing, and things can crash and burn.

As I learn more and experience more, I’ll share that more with you, but that’s my secret adventure. We’ve got all of these different forms of income. Here’s the thing that takes the most time here. I work 5 to 10 hours a month on my rental property. There are other things, but mostly this. The media personality piece takes the most time.

That easily takes twenty hours a week because I’m traveling and other stuff like that. That’s my choice. I also spend time doing charity work. I also spend time on lots of other things. I’m a caretaker for my parent. Because I’ve got seven different ways that I’m making income, I’m not so concerned if one’s not working quite as well as the others. I have an idea monthly of what money is going to be coming in because I’ve diversified my streams of income.

You underscored what I was saying, Moneeka. It’s the same with me. I was always looking for ways. I know we’re going to deep dive into that in the webinar, which is how you evaluate these deals. I’ll give everyone in that webinar how you can figure out in five minutes whether it’s a good deal, and then really have not only a framework but also tools that you can use to say, “How do we figure out how to create these income streams?” Be confident while we’re doing it. I’m an analytical guy, so there’s a spreadsheet involved with that.

There is. I am involved in syndications also. In my real estate portfolio, I’ve got three of those paths of income. I’ve got a fourth because I run a construction company also. That’s more active. Even in the real estate arena, I’ve got several different paths of income that come in. If one of my rentals goes vacant, I’ve still got all my syndications paying quarterly, whatever they’re supposed to be paying. Even in my paths of income, I’ve subdivided. What I’m saying is that you don’t need to work harder to make more money, you need to work smarter.

What I really love about what Chris was talking about is if you can get 20 to 48 hours back a week, what would you do with that? Could you learn more about different ways to make that passive or residual income that you’re looking for to increase that income, so now you’ve got more opportunities, and you can invest in things that people that aren’t making that income can’t?

What happens is it snowballs. You create another income stream or you create more time in your life, and that opens up space. If you have that capital like we talked about before, and you have the time, now, you have the freedom to choose to work with and do the things that you’re really passionate about. That’s where I’ve found your income starts to multiply. We’re going to dive into this a little later. There are three silent killers who are insidious beasts that will come, and they’ll try to attack your income. The second component of the framework is how to keep your money.

I like to say, “Let’s put some more people in the boat and start rowing.” That’s make more money. What if your boat has a bunch of leaks? Working with dozens of coaching clients, some that are making seven figures a year, very successful, I found one thing in common, Moneeka. No one does all of these things properly. Those three things are proper insurance, proper liability protection, and proper tax strategy. What we talk about in the course is how to make sure you have all of these things in place. My father died when I was aged five. A death or major illness can rob you of income, especially if it’s a major source of your family’s income, as it was in my family.

Next Level Investing: No one does all of these things properly: proper insurance, proper liability protection, and proper tax strategy.

Number two, a lawsuit. You own these properties, and I know a lot of high-income earners and probably a lot of readers of the show. I was guilty of this early on as well. You own real estate, you own it in your own name, you don’t have a proper LLC set up, or you may be co-mingling funds. My attorney talks about a story where his friend lost $3 million because he didn’t take a few hours and $1,000 or so to set up a proper entity. These are things that can come and get you.

If you have liability in other areas of your life, you certainly don’t need more liability from our investments. My attorney provided all of his resources inside my course when he found out what we were doing. That comes inside of there. We even have a checklist. It’s the ultimate estate plan checklist. If it’s daunting as it was for me, you can go right through that checklist. You can say, “These are the steps I need to take,” everything from writing down where your passwords are, where your heirs or partner or spouse can find all the information for your properties, and accounts, and do those things to, “What about tax strategy?” This is low-hanging fruit.

Typically, my coaching clients are saving somewhere between 5% and 10% off of their taxes. What I mean is they’re paying 30% which drops to 20%. For most of our coaching clients, we can get them with the tax strategists that we work with. That’s not something that I do specifically, but I’m not an accountant, not a CPA. I don’t do that, but we have vetted CPAs that we work with, but they’re able to get most people’s tax rates, even W-2 income earners, a lot of time below 20%.

If you can save that money, that may be your first $50,000 for passive investment, for instance. That’s why I like to say it’s like a boat. If you can plug all the leaks in your boat, now you start rowing faster. When the money’s coming in, it’s not going out in the form of taxes, it’s not being lost. You can sleep at night because you’re not worried about losing it to one of these other things that are lurking in the shadows out there.

I love that. We’ve talked about this before, and I know Chris has said this before. The more that you keep, the more it can compound. People will say, “It’s okay. I’ll deal with this later. I don’t make enough now, so I don’t need to worry about this.” The thing is that the sooner you get a handle on holding onto your money, the more that particular money will compound. Compounding is the magic of finance. The more that you can utilize that money to invest and grow it, the faster it will grow and the faster you get to that place of wealth. Keeping your money is very important.

I had a webinar and show about the Abundance Group Trust. Trust is another way that you can utilize to do these tax strategies, have your legacy things to pass down in case of death or health problems, but also how to mitigate your exposure to lawsuits because it gives you anonymity. I have chosen that route to go through trust. I know that Chris is introducing some other options.

That is a part and should be a part of most people’s estate planning.

Exactly. Chris, I’m going to send that show to you so you can listen to it because I’d love to hear your feedback on that. Readers, go back to that. It was on October 2022. It was Gina. I think you remember that. What I love also is that Chris gives you this checklist of all of these things because sometimes it can feel very daunting, which is why a lot of people don’t do it, but you miss a big opportunity. If you have to work less to get more money, that’s the golden grail. Let’s say you make $1,000 a year and pay 30% in taxes. Now, you’ve made $70,000. If you can cut that to 20% of taxes, you just made $10,000 more without working a single hour or minute more for that money.

Here’s the amazing thing, Moneeka. I’m going to pull my calculator out. If I was making $70,000 and I saved $10,000, I get a 14% raise, essentially. That’s a big difference. This isn’t tax fraud. You’re not evading taxes. You were literally taking the rule book of the IRS, and you’re following the rules that the IRS puts out there. I like the expression when it comes to taxes, “Be aggressive but document thoroughly.” If you have the right structure set up and you do that, that’s fantastic.

Next Level Investing: When it comes to taxes, be aggressive, but document thoroughly.

In the member’s section, I’m also talking about my million-dollar secret. This one secret will literally save you $1 million over your investing career. It’s incredible. If you look at these small numbers and these small amounts that seem small, through compounding and the difference when you go up in terms of how much you can save and keep versus giveaway to the government or other people, these are seven-figure secrets that you’re learning.

It does take some time upfront to do some research and find out what the right structures are for you, what it is you’re trying to achieve, what your assets are, what are your obligations to the family later on, the upside or the downside, my parents versus maybe children, or my nephew or whatever, where you are feeling your obligations are going to be, how you want that legacy to be transferred, and those sorts of things. It does take a little bit of thought. I understand that it can be daunting, but it’s a very important piece of the financial picture.

Don’t just assume that you just have to work harder to make more money. You don’t. You can work a little bit more for a little while, but it’s not a twenty-year commitment. So much of the time, you ask for a raise from your job. Are you going to get 14%? When you get that raise, often, you’re going to have more responsibilities. You’re going to have to work harder, more hours.

Pay more taxes.

My husband will move to another job. Now, he’s got two years in raise like, “I got to prove myself,” to make that extra 5% increase and income that he made. It’s not necessarily what I’m suggesting. It’s a path. That’s great. My husband loves his job, but you can make more income without doing all of those other things.

That’s what we’re trying to do. They’re not secrets. With all this information, I’ll give you all the resources and the path to do it. We do it in about 30 minutes a week. It’s 8 modules, 30 minutes a week. You can knock this thing out. You can do it on a weekend for sure. You can go through it 30 minutes a week for 8 weeks. You’d be done it in two months.

We talked about the make and keep. Let’s talk about the really fun one, grow.

Grow, it’s sexy. This is investing, and we’re talking about it with our friends at our Christmas or holiday parties and cocktail parties and those sorts of things. I’m glad that we started with the other pieces because have you made time for what matters in your life? Have you plugged the holes in your boat? Do you have just an ironclad plan so that you know you’re safe? You can sleep well at night. You don’t have to worry that after you’ve made this money, it’s just going to get sucked away by one of these little silent killers that are lurking out there, or not so silent. If you’re about to get your tax bill, it’s pretty loud when you got to write that check.

You then get to the growth part. We’re going to dive deep into the webinar about how to evaluate passive deals and syndications. Before you do that, there are a lot of active investors I know that are reading. I started as an active investor. I’m still active in investments, but I also have passive investments in about 40 different passive investments. We talked about how to decide, “Do you want to be active or passive in terms of your real estate portfolio?”

Maybe you’re like your husband, Moneeka, and you say, “I love what I do. I make great money.” I would like to know how to be confident in finding passive deals or marry a wonderful person like yourself, and that you handle some of that stuff. That’s a fantastic way. We also give you the tools to figure out when you will become financially independent. We have a beautiful spreadsheet that’s part of this, and it’s going to allow you to plug in your numbers at the end to figure out when you can be financially independent.

This isn’t some magic bullet. I’m not going to wave a wand. I’m not going to make you some promise. If you’re accredited and making a good income, I find that pretty much everybody has a path to become financially independent in about seven years. It can be a little bit less or more than that, depending on where you are in your journey, but I find that to be a very realistic number if you’re out there, and you have a family like I do like most of you do that are reading, going to do that.

The first step is active or passive, then you have to decide, “If I’m going to be active, what strategy am I going to do? Am I going to do fix-and-flips? Am I going to do notes? Am I going to manage my own rental portfolio? Am I going to do short-term rentals?” My wife and I have two short-term rentals here in Asheville, North Carolina. We participate a little bit active, but it works very well because we also have places for our family and friends because people like to come to Asheville, North Carolina, so it works well with us.

We decided we didn’t want to do more short-term rentals. We would rather do stuff that is more scalable. We go through what your right strategy is. A little active, a little passive, maybe none of one, and 100% of the other. Maybe you decide you want to go full-time into real estate, and that’s great. However, even if you say, “I’m going to be full-time in real estate,” that’s not scalable. I talk about everyone should have a strategy for passive income. Once you got those big flywheels turning and all that excess cash that you’re kicking off, where are you going to put it? What type of deals are you going to put it in?

More specifically, what is the framework, both qualitative and quantitative, that you can evaluate those deals so that you can be confident that you’re putting your money in the right place? It can be daunting when you look at something like a $50 million or $100 million apartment complex that you’re investing $50,000 in. Is that just like a house? It’s not just like a house. There are a lot of other different factors. It’s more complicated in some ways. It also can be simpler in some ways. We break down all of those qualitative issues, the right questions to ask, and the data.

If you’re a data person like me, we have stuff that you can go through to learn, “What are the right questions? What is the local population growth?” We talk about sponsorship fees, and you can dive deep into all those different areas. You can go to the high level and figure out, “These are the questions I need to ask. These are the deals that I’m going to be in. This is how much cashflow it’s going to kick off,” and then you can calculate your freedom number. We call it your path to financial independence.

I love that it talks about qualitative as well as quantitative. You have read at least easily 25 syndicators on this show. These are all people that have become fairly good friends of mine. Not all of them, but several of them. Even though I’m close to them and trust them, I get overwhelmed looking at their deals. There’s the piece where how you build trust. I’m very lucky because I have this show, so I get access to a lot of these people. These come across my desk all the time.

For those of you that are not in my situation or a much simpler situation than me, you need to find ways to find the syndicators that you’re going to trust. Hopefully, you’ll investigate the people that I have had on my show, but there’s also really good stuff that you can do on the internet to look up people. That’s qualitative, who are you going to invest with? The quantitative is, what are you going to invest it with? Both of those pieces are really important, and they’re both big pieces of the puzzle. Please go ahead, Chris.

The qualitative comes down to what are the right questions to ask. Anxiety comes from fear of the unknown, and how can we know if we don’t know the right questions to ask? We give you the right questions to ask, so you can have a measure when you talk to other syndicators who know that, just like anybody that goes in, whether it’s a car mechanic or a doctor. A lot of people are overwhelmed when they go to the doctor because they don’t know what questions to ask, especially if there’s an illness or something, and they’re in a very emotional state.

I remember my mom when she had cancer. They’d sit down and record the conversations, but my parents didn’t know what questions to ask because they weren’t medical professionals. They would come out of there, and a lot of times, they were even more confused than when they went in. If you’re confused and are not comfortable, you definitely should not invest. If you don’t feel good about something, don’t invest. If you have the right questions and the right knowledge, if you then say, “I’m confident,” that’s what we want to do. I want to give you confidence, and then you can say, “I’m on the right path.”

That’s why we want to put it also in that quantitative portion, so you can have a score, you can have numbers, and say, “I’m moving towards this.” I tell you what, you make that first investment, you get a check for a few $100, or $500, or $1,000, it’s cool, but that’s not going to move the needle enough. When you can see, “It’s going to start with a few hundred dollars this month,” and then a couple more months down the road, that’s going to grow, and then a deal sells. We were talking about when we started this show. We’re going to the bank with my son, that $3,000 is now hundreds of times larger than that.

That allows me to go and reinvest that money. It takes time, but I knew it would come over time because I knew I could look at my spreadsheet with a degree of confidence, I can go and say, “Now, I know what I can do with that for the future.” That’s what this is all about. Real estate is a get-rich slow game, and we want to give you the framework and the roadmap, which is why we call it the 6 Figures of Passive Income Roadmap, to get you where you want to be, which is on that path to ultimate freedom.

It keeps you focused. So much of the time when you’re in it, you need that focus. I was on a twenty-year plan on how I was going to retire. Every once in a while, I had to remind myself, “Why am I doing this?” You have something that came up with a rental property that made me crazy, “Why am I doing this?” Spreadsheets and numbers really help keep you very focused on why you’re doing what you’re doing and where you’re headed, and why this is a good idea.

“Honey, why are you talking to the real estate agent on our honeymoon?” “This is why, because twenty years from now, sweetheart, we’re going to be financially independent.” True story. Fortunately, it didn’t take twenty more years, but on our honeymoon, I was trying to figure out how to get a place rented out. It was a mess. I will never forget that.

I’m so with you on that. I want to go into our EXTRA portion. Here are a couple of things I want to close the show with. First of all, we are going to be talking in EXTRA all about a deep dive more into the three secret killers of wealth, which are death, health, lawsuits, and taxes. That sounds like four, but I think death and health are the same.

We’re going to be doing more of a deep dive on that in EXTRA because I really want you guys to start thinking about that stuff. They’re not fun and happy and sexy things, but very real. There are things as you’re building your wealth that you need to think about, take into consideration and plan for. We don’t have a lot of people that are talking about that. I trust Chris to give us a lot of really good information. I asked him to do that for us in EXTRA. We’re going to be talking about that there.

If you are really excited about Chris’s course already, and I would be if I were you, you can go get it right now at BlissfulInvestor.com/EvaluationCourse. I know those are long words. I’m sorry. I was trying to think of what I could make this, but it’s the best description that we can get. Here’s the thing. It just released. It’s brand new on the market. He normally charges $1,497 for it, but my audience gets 30% off. Go to that link, and then put in the code BLISS, all in caps, and you get a 30% discount, which is huge. That takes that down to about $1,000.

Yes, it’s right about $1,000.

If you want more information before you invest in the course or if you just want to talk about syndications and ask Chris more questions, because as you can see, he’s an open book, he’s very transparent and loves to talk about this stuff, we are going to be having a webinar. Mark your calendars, Thursday, February 2nd, 2023 from 1:00 to 2:30 PM Pacific Time. For those of you that are reading this later, you can still go to that URL and re-read. The URL to go to sign up or re-read is BlissfulInvestor.com/SixFiguresWebinar. Those of you that can join us, please come and ask lots of questions. I’d love to see you there. I’d love to say Happy New Year.

Happy Groundhog Day on the 2nd, I just noticed.

Is it? We’re going to be celebrating lots of things. Put that all on your calendar and mark down those URLs. Did you want to close with anything, Chris, before we say goodbye and move into EXTRA?

Thank you so much. It’s always good to talk to you here. When we do that course, come ask me anything. As Moneeka said, I’m an open book. Unfortunately, I made a lot of mistakes in my life. I’ve had some unfortunate incidents like losing my father and my friend. I’ve been through these things. Hopefully, I can help you with some of the tools that I’ve put together and the lessons that I’ve learned, so you don’t have to make the same mistakes that I did.

I love that. Thank you. Always 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

• NextLevelIncome.com/Book
• Strategic Coach
• BlissfulInvestor.com/SixFiguresWebinar
• Gina Gaudio-Grace – Previous Episode
• BlissfulInvestor.com/EvaluationCourse

——————————————————

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

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

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.

blissfulinvestor.com

How To Thrive In A Crowded Market With Airbnb With Rachel Gainsbrugh – Real Estate Women

Everyone wants to experience what it feels like to generate income while having plenty of free time to spend on whatever they want with. Many see potential in the real estate industry to make us experience that. But how can someone thrive in a crowded market? In this episode, Rachel Gainsbrugh, the owner of Short Term Gems, shares her secret on how you can thrive in a crowded market with Airbnb. She explains that the Blue Ocean Strategy helps set you apart from this market’s feeding frenzy. So if you want to set yourself apart from the crowded market and save yourself from financial pains, don’t miss this episode. So, choose financial freedom, choose bliss, and hit that play button NOW!

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Watch the episode here

Listen to the podcast here

How To Thrive In A Crowded Market With Airbnb With Rachel Gainsbrugh – Real Estate Women

Real Estate Investing For Women

I am excited to welcome to the show, Rachel Gainsbrugh. Rachel was born in Haiti with the drive to make a difference and not take her parents’ sacrifices for granted. She was raised in Miami, worked hard, became a doctor, and was left with over $500,000 in student loans. She ground hard to pay off her loans. When she found Airbnb investing, it became a game changer for her. She was able to make fifteen times on short-term real estate rentals over long-term rentals.

Now, she’s a healthcare professional by day and a rental investor by night. She’s the owner and manager of eighteen luxury short-term rentals with a lucrative cashflowing rental portfolio. She’s a mom, wife, and real estate coach that has been featured on Netflix TV, showcasing one of her luxury rentals. Rachel is passionate about helping professionals create a life they don’t need a vacation from through Airbnb investing. I love that. Rachel, welcome to the show.

Thank you so much. Thank you for having me and for taking the time to put out all of this valuable content to the community. I appreciate being here with you.

Thank you so much for that. Rachel, I’ve been waiting for you, and we’ve had to reschedule a couple of times. I do luxury home long-term rentals. I call them Executive Homes, and people do not talk about the luxury rental market often. I feel a bit alone in that industry. It’s so much fun to be having this conversation. I’m excited about it. Could you start by giving us a high-level of your story? I read your bio, but what brought you to real estate, and why short-term rentals?

What brought me to real estate was looking for not necessarily an exit strategy but an additional revenue stream outside of punching a clock and the whole W-2 thing. I love helping patients. That is my passion. Outside of that, I wanted to have savings set aside. We’d overcome a large amount of student loan debt. When I looked around, I looked at all the investing strategies out there. Crypto was making its way to the forefront as well. I just didn’t quite understand it. I said, “Let me just stick to real estate. I can see it. I can touch it. It’s real to me.”

I went to look into real estate investing. I consumed maybe a year and a half of the show and determined that short-term rentals were going to be the right fit for me. I felt that if I could position myself correctly and build a system around it, not only would I generate a significant amount of revenue compared to my counterparts that were investing in long-term rentals or syndications, I felt as though I would be able to do in a fraction of the time that most would be doing investing. Having a bit of a project management background and being able to leverage that, I figured that it was worth a try and the juice is worth the squeeze. It worked in my favor for sure.

Talk to me about short-term rentals versus long-term rentals. How do you see them, and why you chose this particular route?

I even niche further into short-term luxury rentals, but I will talk to you about short-term rentals versus long-term rentals. Fortunately, we live in a lower-cost-of-living area in Georgia, I was looking around at properties that would fit into my budget, and for that first purchase, I was looking at a budget of about $300,000 for a property.

I looked at some long-term rentals in some rural or remote areas in Georgia, and I found a 20-unit for $300,000. I was like, “This is going to be amazing and my research,” and I realized the rent rolls were about $160 a month. I was like, “I want to live there.” The rents were low, and with those lower rents, you are going to have challenges. I had to think about twenty individuals who may be needier than most with these types of rents. Is it worth it for me? Am I leveraging my revenue in a way where I’m not punching a clock or am I buying a whole new job?

For me, at that point in time, even though it was a long-term rental, which is going to be a little less hands-on than short-term rentals, it wasn’t worth it. I looked around at more long-term rental opportunities and I saw an average of anywhere from $300 to $400 a month, net revenue after all expenses were paid, and net operating incomes were not the greatest for long-term rentals.

We’d spent many years paying off student loan debt. I wanted this next opportunity to be the most profitable as I could make it. Short-term rentals were it for sure, and we saw anywhere from $10,000 a month gross revenue to start, and properties that could net about $6,000 a month are one of our first properties. We’re thinking that would be the route to go as compared to long-term rentals.

Is that your profit or is that before management fees?

That’s profit because we self-manage using our own systems, and that was part of the project management I mentioned a little earlier.

In one of the notes you sent me, you mentioned that you could do this even if it’s not like a vacation destination place. Could you talk about how that works for you?

What’s interesting is that it’s a strategy we stumbled across because we have a property that is in a suburban area. It’s on a nice piece of land about two acres or so, which is huge for some areas, and it’s in a better school district, a little bit of higher per capita income in this particular area. We came across families who were displaced from their homes temporarily due to either a natural disaster or some type of mishap.

If there’s a fire, a significant water leak, or a pipe that bursts these are families that fit our demographic. We have larger homes, so we do host larger families. These are families who are going to be placed in a hotel for some time, and they need to be in a home for the next 4 months to 8 months as the supply chain is behind.

Finding a workforce to repair homes is can be a bit delayed, and we’re still encountering that. Those families have been staying with us anywhere from 4 months to 11 months. We just secured a 12-month contract with some of these families, and these are paid to us directly by the insurance company. These are our midterm rentals, but it’s specifically the insurance policyholder strategy that we leverage.

Do you get those people through insurance companies? Is that the channel that you use?

They come to us through a third party. The insurance companies themselves don’t necessarily seek out housing. They work through a third party to find housing for them, almost like a scout to find homes. Once we had one book in our local area, it’s always creating those relationships. We know those relationships are everything. As soon as we start to evaluate the property, give the notice to vacate period and say, “This property’s going to be vacant in a few weeks.” We start reaching back out to those same individuals and we just want to be top of mind.

“Don’t forget, this property’s going to be available on January 2nd, 2023.” We just got an inquiry. We have one that’s available on January 2nd. We said, “January 2nd, we’re going to be open again.” We keep those lines of communication going. It’s not necessarily your insurance, but it is a third party that works with AllState, State Farm, Travelers, or all of those insurance companies.

Airbnb: It’s not necessarily your insurance, but it is a third party that works with All State, State Farm, Travelers, and other insurance companies.

How would you find those people?

The first time honestly, they found our listing through Airbnb. As of this date, they don’t use Airbnb anymore to source properties for their policyholders. However, the policyholders use Airbnb, it’s a two-pronged attack. Say, something happens to your home, unfortunately. The insurance is going to use that third party to start looking for housing.

They may tell you, “You may want to look for an option as well,” and if you determine there is this property that’s an Airbnb that’s within my school district a few roads down, then you can go ahead and let them know that we found a property and then, they’ll work with the host or the homeowner to facilitate that transaction. I do know the insurance policyholders, the insurance at temporary housing agencies is not leveraging Airbnb any longer. Another site that we use to garnish that relationship is a site called CorporateHousingByOwner.com. We list there and they found us there as well.

Do you find that you have much fewer vacancies? What’s your turnover time when someone leaves and then you’re trying to get somebody else in? What does that look like?

For our 5 properties in 1 particular region that do primarily this midterm rental strategy with the insurance policy holder, we’ve had 7 vacancy days over the last several months. If I’m going to do short-term rentals in a vacation market, I prefer a vacancy of 65%. That’s going to be the biggest difference between short-term and long-term. For long-term, you want 100% occupancy. For short-term, you do not want 100% occupancy, especially with the larger homes.

At 65%, it’s my sweet spot. We’re able to go in there and make all of the changes that we need, tweak things if the home needs more TLC, and we have the time in between to adjust. However, with long-term rentals, you’re going to have the same person in the long term. For short-term rentals, there’s more handholding. Our maintenance needs to come in. We press and rush all of those things.

If we drive a vacancy or occupancy with our short-term rentals, the struggle is that the property’s not going to be in tip-top shape for the next guest. If it’s not in tip-top shape for the next, you risk complaints and refunds and you start to lose money at that point, so 65% occupancy is perfect. We’re able to get a higher revenue and get the property in tip-top shape in between. However, for these midterm rentals, we can go all day long 100%.

With your short-term rentals, more like the vacation ones, you like 65% occupancy?

Yes.

How do you manage these properties remotely?

I use a number of technology tools to automate, eliminate, and delegate. As far as remote management, if the property is close to other properties where I want to make sure that the noise levels are kept under wraps. We use tools such as NoiseAware. Inside the properties, we will measure the decibels to make sure that there are no crazy parties happening. Other tools are channel managers that we use online to deconflict our calendars to make sure that we don’t get double bookings and the ring camera keyless door entry, those types of tools as well are primarily the automation or tech tools that we leverage.

Outside of that, our cleaning team, our maintenance, as well as our TaskRabbit runners pretty much run the whole business for us remotely. If there are any types of boots on the ground that are needed, they’re there to support, test this, and bridge any of those gaps. As far as guest communications, once we had our communications dialed in and created our SOPs, we were able to train someone to take over the guest communications. It’s important to have a system.

What do you mean by SOP?

Our Standard Operating Procedures. If a guest asks this question, here’s the answer. If they ask this question, here’s the answer. If something comes up that’s not a part of the script or our SOPs, then they didn’t escalate it to me. The last time I spoke with a guest, I had to intervene. I’m primarily responsible for bookkeeping and making sure the numbers look okay.

Do your cleaning team and your handyman come from TaskRabbit, or do you have people that you call when there’s a need, or how does that work for you?

I have three sets of cleaners. If something goes awry with the first, I have team B and team C. I keep those at bay, and then there’s an app called TurnoverBnB, if something goes wrong with all three. Many of my clients don’t have that to get started. That’s a great place to start. I like that tool as well. The handyman comes from various places.

For instance, Thumbtack is an app that I like to use. Thumbtack, for better or for worse, has some things there that people don’t love. What I do like about it is that it has a reciprocal system where you can rate the handyman or the vendor, and it’s like we all have to be on our best behavior. When you say you’re showing up, you show up so you’re not left high and dry. Also, I use another tool called NextDoor. It’s like a neighborhood tool to see who’s been suggested as a handyman. It’s living like a local. The NextDoor app is pretty cool as well.

Do you keep most of your properties close to you, or are they spread out? How far is the farthest one?

I’m in Georgia. I have some in the Poconos of Pennsylvania, but everything else is Georgia, Florida, and Tennessee.

I like this concept that you talk about, which is less is more, keeping fewer doors, but still making the same income. This is something that I’ve touted a lot. When you’re in the luxury market or the executive home market, you can see it. People have asked me many times if you’ve got a vacancy, it’s a much bigger deal than someone who has a lot more properties, which is true. Like you, I keep my properties in the highest condition. My vacancies are very short. I might have a vacancy of 1 to 4 weeks every 5 to 7 years. It’s very little, but could you talk to me about how you see that and what’s your approach to that?

It’s a very valid point. People want to hedge and make sure that they’re not putting themselves out there. It does require being proactive, especially for short-term rentals and midterm rentals. I mentioned earlier the importance of marketing, and we don’t move forward without collecting at least email addresses from our guests. We have the mechanism by which to do and you want to make sure you’re doing it all in the proper way.

With that being said, we add them to an email campaign, and we’ll send them an email once a month or once a quarter, just reminding them of how they were helped by being at our property if they know someone who can benefit from our property, for those who are staying with us for mid-term rentals.

If it’s short-term rentals, we remind them of what a great time they had at their birthday party at our property. Thus, by collecting information such as the purpose of your visit, as well as who stayed with us, we can then market them as well. It’s important to be more proactive and it’s worth it. You do have that higher touch that can allow you to demand a nightly read that you desire.

Airbnb: It’s important to be more proactive and worth it because you have that higher touch that allows you to demand the nightly read you desire.

Talk to me about your Blue Ocean Strategy and how does that differentiate you? I don’t even know what that means. What do those words mean? Can you tell me about that?

The Red Ocean is when you’re in that feeding frenzy with all the other properties, the sharks, and everyone’s going after the thing. The blue ocean is a wide ocean and you’re on your own. You’re like that unicorn. You don’t want to be a Me-Too. We call it like a Me-Too drug when you have another statin. It’s like, “Why do we have an eighth statin on the market?”

You’re like me-too drugs. You don’t want to be me-too, because when you’re me-too, that’s when you face oversaturation and those types of issues. Whereas when you’re unique, when you’re set apart, when you have identified who you are as a host and who the guest avatar is, that’s when you can have them see that you see them. They see your property and you’re marketing to them, and it says, “I see you. I know you.” Whether or not you’re priced a bit higher than what they would expect, they’re going to book with you they know, “Why hedge and stay over here when this particular property has everything that I need?”

That’s the power of operating in the Blue Ocean. You’re going to set yourself apart from the feeding frenzy or from the race to the bottom. When individuals are similar to others, the only differentiator is the price point. I’m going to keep dropping my price until I get there. When you’re operating the luxury and set yourself as a unique provider of hospitality, then you’re not going to be like the others.

For you, you chose to niche into the luxury market. Is that what you did?

Yes.

Knowing what you know now, if you were talking to somebody who was getting started, what would you tell them to do to get the fastest results?

I would say, “Start.” Here’s the deal. You can overanalyze your life away. Surround yourself with the right folks for doing the thing that you’re looking to do who have achieved the goals that you are looking to achieve, and then just start.

What were some of the challenges that you had to overcome in starting this business?

It’s almost like you don’t know what you don’t know. Some of the challenges are being in the right rooms, having those conversations, and group learning. Even listening to other people’s situations, you’re like, “Maybe I’m not going to do that.” You never know what will come out of you hearing what others are saying in a group setting. Also, attending the local REIAs. Had I engaged and gone all in in that group learning, I would’ve probably avoided the HOA situations that we encountered. I would’ve not lost a whole lot of money on a deal due to not understanding things with taxes. I don’t love taxes, I am laser-focused on tax implications and tax opportunities.

That was such an amazing amount of information and so quickly. Thank you.

Thank you so much for having me. This is fun.

It has been fun. Thank you for that. Tell the audience how they can reach you. It sounds like you do coaching and you help people get started in this business. Is that true?

Absolutely. The best way to reach me is to grab my free list. I do have a free gift. For those who are always approaching me about short-term rentals and saying, “Where should I invest?” I have my top 75 cities for the highest profitability for short-term rentals in the US. If you go to 75 Gems, that’s 75Gems.com, you’ll grab my list and I’ll definitely have free training there and how to get in touch with me as well.

Thank you. I’m going to download that. That’s amazing. Rachel have things coming up in EXTRA ladies? I’m excited. Rachel and I are going to be talking about, “Financial Wellness is Wellness, too.” Ladies, you know how much I believe that your financial independence offers you a choice. Choice offers you options. Options allow you to have happiness. It goes both ways.

Our financial wellness is a big determinant of how much bliss we can feel. I want to qualify that by saying that you can be very blissful even if you’re broke. It’s an inside job. That’s how I teach what I teach and how I believe. Financial freedom makes it easier. Any pain that we experience in life makes it harder for us to focus on being blissful. It creates more challenges for us. Whether it’s physical pain, mental pain, emotional pain, or financial pain, any of those kinds of pain are going to make being blissful harder. You’re going to have to work harder at it.

One of the bliss strategies is to help get past those pains. Self-care is important. You want to take care of yourself. You want to take care of your emotional self. You want to make sure that you’re feeding yourself right, exercising, and all of those things in my book called Choose Bliss. One of the pieces that’s important that people don’t tend to bag and talk about is true. Financial pain needs to be handled.

We get to a point financially where it’s not financial pain anymore, and then we can get to the next point where it can support our bliss by allowing us to do more for our families, more in the world, and live more freely doing the things that we value most. Financial freedom is an important piece of bliss. That’s why I do this show. When Rachel was talking about, “Financial Wellness is Wellness, too,” I was all in. We’re going to be talking about that in EXTRA, and I’m excited about that. Before we do that, Rachel, are you ready for our three rapid-fire questions?

I’m ready.

What is a super tip on getting started investing in real estate?

Surround yourself with those who are doing what you want to do. That comes with everything, not only investing, but health and wellness, and all the things. Be in the right rooms and don’t go at it alone.

What is one strategy for being successful as a real estate investor?

For me, it’s measuring my goals. You don’t pay attention to what you don’t measure. You pay attention to what you measure. Every month, we’re looking at our portfolio. We’re assessing what we’re doing well and what we’re not doing so well. We make adjustments along the way.

What is a daily practice that you do that you would say contributes to your personal success?

For me, it’s prioritizing. There’s a lot of noise out there. First thing in the morning, I want to write down my top three and make sure that it aligns with my big rocks. If it does, then that’s what I focus on because there’s a lot of noise, emails coming through, alerts on the phone, and all the things. Focusing on my top three and determining what those are ahead of time has been my daily habit that contributes to my success.

I love that. Thank you. This has been so much fun, Rachel. Thank you so much for all you’ve contributed so far.

What an honor. Thank you so much for having me.

Ladies, we have more. In EXTRA, we’re going to be talking about, “Financial Wellness is Wellness too.” If you’re subscribed To EXTRA, please stay tuned. If you’re not, but would like to be, go to RealEstateInvestingforWomenEXTRA.com and you can subscribe there. For those of you that are leaving Rachel and I now, thank you so much for joining us. I love hanging out with you ladies. Thank you so much. I appreciate you, and until I see you next time, always 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

• Rachel Gainsbrugh
• CorporateHousingByOwner.com
• TaskRabbit
• TurnoverBnB
• Thumbtack
• NextDoor
• 75Gems.com
• Choose Bliss
• RealEstateInvestingforWomenEXTRA.com

About Rachel Gainsbrugh

It was from my earliest real-estate investment, and my mind was BLOWN. At that moment, I realized that if I could make 1 dollar doing this… then I could easily make thousands more. I immediately saw the potential this lucrative industry had for job and income replacement. And that’s how I was able to change the game and get the odds in my favor.

This was huge, especially for a woman like me. Why? I was born in Haiti—the poorest country in the Western Hemisphere. I was driven to make a difference and not take my parents’ sacrifices for granted. I was raised in the inner-city of Miami where I worked hard, got straight A’s and went on to get my doctorate.

——————————————————

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

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

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.

blissfulinvestor.com

Build & Protect Your Wealth Through Apartment Investing With Ronnie Shalev

Being a doctor can be exhausting, especially when you have to work 12 hours and your family relies on you financially doesn’t help in helping to reclaim your life. This episode is dedicated to everyone who wants to reclaim their life and remain financially stable. Today, Ronnie Shalev, a board-certified ER physician turned real estate investor, shares her career shift and how you can build and protect your wealth through apartment investing. Ronnie’s mission to help people with their financial wellness led her to provide some more insights on why investing in apartments is more relevant than other asset classes. Choosing the right market is part of risk mitigation, which Moneeka and Ronnie dive deep into. So if you want to free yourself from the job holding you down, tune in to this episode now! Learn how you can live a life on your terms!

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Watch the episode here

Listen to the podcast here

Build & Protect Your Wealth Through Apartment Investing With Ronnie Shalev

Real Estate Investing For Women

I am so excited to welcome to the show, Dr. Ronnie Shalev. She is a board-certified emergency physician turned real estate investor. She was a practicing ER doc for sixteen years, but her job sucked the life out of her, leaving her drained, burnt out, and unable to enjoy her family and kids. She wanted to reclaim her life but didn’t know where to start.

She was making great money. Her family was relying on her financially, so she was trapped by the golden handcuffs. That’s when she started exploring the world of real estate investing and found a way to make recurring income without having to be physically at the hospital or with her patients. After some time, the income she earned from her real estate investments gave her the freedom to quit her grueling emergency medicine job and transition to a medical device company. Ronnie’s mission is to share her knowledge with other women who are feeling trapped and want to free themselves from their jobs and live life on their terms. Welcome to the show, Ronnie. It’s so nice to have you here.

Thank you so much for having me.

I know we were talking a little bit about this in the green room, but it’s interesting to me how many doctors have come onto the show talking about either how they are evaluating syndications, or they are actual syndicators. What’s fascinating to me is my mom is also an MD. I know what kind of income you guys make. Especially as an ER doc, that’s some crazy difficult stuff, and they pay you well for that.

It’s fascinating to me to see how syndications and being a syndicator can replace that kind of income. It’s such an inspiration. This is something to think about. We wonder, “Can I replace my income?” Think about the six-figure incomes that are being replaced with real estate. It’s awesome. Thank you so much for coming to share your story on the show.

I’m so excited to share my story. I know that a lot of people can relate to wanting to design their own life.

I’m one of those people, too. That’s what bliss means to me. It is a choice. It is not being a slave to the expectations of the world around us, whether it’s our job, our families, or whatever it is. We want to be able to live life on our own terms. It’s awesome. I read your bio, but why syndication? Why did you take this particular route?

I was not ever planning on being a syndicator. Ever since I was a little girl, I have wanted to be an ER doctor. I wanted to help people. I wanted to help people with their health and their life in their times of need. I remember a shift where I was alone. I was the only doctor in the entire ER. There was no scribe, no mid-level, no physician assistant, nothing. It was around 10:00 PM, and I was treating two stroke patients at the same time. I also had an asthmatic who was having severe trouble breathing. I had someone having a heart attack. The waiting room was full. There wasn’t an empty chair. You could see the pain and frustration on everyone’s faces, the patients and the families.

On top of it, there were several ambulances lined up waiting to get checked in. I looked at the clock to see, “When is my relief coming?” It was eight more hours. The stress was unbearable. I couldn’t breathe. I was responsible for all of these people. The administrators had cut all of the physician hours and assistance hours, leaving only one doctor responsible for everyone who walked into the ER or was already there. I’m faced with this situation. What did I do? I put my head down, and I did it. I took care of everyone at the expense of my own health. I didn’t eat, drink, or pee during that shift.

For eight hours?

Twelve. I came home, and I was so exhausted. I collapsed on the bed. I went to sleep in my scrubs, which is unheard of because you feel disgusting after the hospital. I slept the rest of the day. My husband and my family didn’t understand why I was so tired. They didn’t understand that I’d taken care of over 50 patients that night with extreme stress and liability. It’s hard to fathom. How could they?

I started to think about what else I was supposed to do. I was like, “What else is there? I’m a high-paid hourly worker, and I’m tied to my job. I have to keep it.” I was told by my administrators with no medical education how to practice medicine and how quickly to see the patients. They made sure to tell me that I was dispensable and could be fired if they didn’t like my numbers. I started to think, “Why did I love this job in the first place? Something has to change.” That’s when I started looking at other options and what else was there. I was like, “How can I free myself from this job?” That’s where I found real estate.

It was about that time that a friend told me that he was passively investing in real estate. I didn’t understand what that meant. He was like, “I own a piece of 100 7-Elevens, and I receive a check every quarter. I get passive income.” I’m like, “Passive income? What is that? That’s weird.” For years, I had been working per hour. My time was not passive at all. My money was never passive. I thought to myself, “This sounds weird. This sounds fishy. Is it a pyramid scheme? Is he lying to me? It sounds like it’s too good to be true. Maybe you could lose your money. I don’t know.” I was very paranoid.

I started thinking and remembering what was going on in the hospital and with those administrators. I was so frustrated about trading my health and my well-being for money. I decided, “Why not? Let’s give it a shot. It’s not like real estate goes to zero. It’s almost impossible for that. There are hard assets. There’s land.”

My husband and I decided to dip our toe in and do a small investment first. It worked. We started getting checks every quarter. I said, “This is interesting. Does it work again? Let’s do it again.” We did it again. We started seeing results. That’s where we started investing. We’ve been part of over 26 deals. We’re always looking for new ones. We did a reassessment and said, “I could leave medicine. I can go to something that’s way less stressful with this passive income that we’ve generated.” It took many years.

How many?

It took eight years. That’s the thing. This is not a get-rich-quick scheme or something like that. This is a long-term strategy where you know what the outcome is. It’s predictable. After I was able to do that, I still see all of my physician friends and colleagues as miserable. I’m telling them, “This is what I did.” They’re like, “How did you do it? Did you win the lottery?” I’m like, “I didn’t win the lottery. This is the actual strategy that I did.”

They still have fear. They were like, “I don’t have time to learn it. I don’t have time to study it.” I said, “That’s perfect. I’ll do it for you. I’ll do that. You can leverage my expertise. You can leverage my time. You can leverage other people’s money through the banks.” I went and studied how to do it actively myself. My husband and I took a mentorship program and learned how to do it. We started our own company, where we are syndicating apartments specifically and bringing along other professionals.

Do you ever miss the helping people aspect of medicine?

I help people all the time. What I didn’t know when I was looking at being a physician as a career at that time, I thought, “This is how you help people.” Now I have a better perspective that you don’t have to help people with their health. You can help them with their financial wellness. I’m still helping, which is huge. On top of it, I’m also able to still use my medical knowledge. I work at a medical device company. It’s not because I have to work there. It’s because I want to work there. We’re helping thousands of patients every single day. I get to use my medical knowledge. I get to use my investing knowledge. I get to help so many people on a grander scale. I’m still feeling that drive to help people. That’s that feeling.

It’s so interesting because I don’t have to work either. I’m like you in your situation. I’m, by nature, a coach. My mom was a psychiatrist. She and I are so similar. My heart is to help. I found a very similar thing when I was coaching. I was trading time for money. I gave up on so many other things that were important to me. It’s certainly not comparable to you, but there’s that feeling inside me of wanting to help.

As I’m trying to redesign my life, retire, and have more time for my husband, my family, my nephew, and my parents as they’re aging, I’ve got the financial wherewithal to not have to do anything. My way of helping is by doing this show because this way, my ladies are elevated by my guests and whatever little knowledge I can offer. It’s an opportunity for me to give back so that I have that peace inside of me fulfilled. The biggest things in people’s lives that we need an abundance of are our health, our wealth, and love. It is our relationships. It is the three biggest things, and you’re handling two of them. That’s unbelievable. That’s awesome.

I love that you’re helping so many women and bringing on powerful people to motivate. How does someone know that they can do it without hearing that other people have done it, too?

That’s right. Thank you for sharing your knowledge with my ladies. Talk to me a little bit about why you chose apartments.

We passively invested in a lot of different asset classes. We’ve done self-storage, retail centers, mixed-use buildings, industrial warehouses, and assisted living. There’s a lot that I’ve done, but I like apartments the best because they make sense to me. I feel like housing is a basic need. Everyone needs a place to live. If they’re shopping online on Amazon, they’re at home. They’re not going into the office. They’re working remotely. They’re doing it from their homes.

With the interest rates going up and the supply shortage, people can’t afford a house. They can’t afford a down payment. There’s a whole population of renters that have to be renters. There’s also a whole population of people that want to be renters. There are the Millennials that don’t want to be tied down. They don’t want to be having these roof leaks, plumbing, and all kinds of deferred maintenance on their home. They don’t want that. There are seniors. These are people that are trying to buckle down and live on fixed incomes. They don’t want surprise expenses with their homes.

That’s a good point.

They’re downsizing. They move out, so they become renters. There are all these people going to rent, and there are not enough places. That’s why rents are going up crazy all over the place. I’m going into apartments, but I’m not just going into any apartment. We focus on recession-resistant assets. We’re looking at Class B and Class C properties. The reason I’m looking at that is that what happens when you’re in a recession? It is what people might say we’re in. You’re living in a Class A building, which is a high-rise. There’s a bellman or a doorman. It has all of it.

Maybe you have a pay cut, or you get furloughed, or you’re let go. Why do they move? They move into Class B. It is the same thing. The people living in Class B move to Class C. I’m right in that demographic that whether we’re in an economic downturn or not, people are looking to live there. I’m taking those communities, and I’m making them better. I’m doing value add. We’re putting in dog parks and solar panels. We’re including internet in our packages. We’re doing a lot of nice things for the residents, making it a community where it’s a nice place to live. What we’re doing is we’re adding value. We’re making the residents a great place to live, and then the investors make money. It’s a win-win.

Tell me about how you pick your markets. I know you’re doing Class B and C, but how do you pick the markets you want to go into?

I’m focusing on the Sunbelt states because I want people to be moving to where my apartments are. I’m looking for landlord-friendly states. I want to be able to evict if I need to. I don’t want a tenant that has lived there for two years and doesn’t pay rent. I’m looking for landlord-friendly states. I’m looking for growing markets. These are sub-markets where people are moving into. Why are they moving? There are jobs. I’m looking for where there’s job growth.

I don’t look for only one employer or one type of employer. The last thing you want is to have this robust factory, and then the factory closes, and everybody loses their job and moves out of your apartment. I’m looking for markets where there are multiple diverse employers in energy, entertainment, device, biotech, or whatever it is. There’s a lot of variety. If one goes out of business, they’re not all going to go out of business.

You can’t completely reduce risk, but you can start thinking and pre-planning if you have a safety plan. I’m looking for recession-resistant assets. I’m looking for places where you can evict tenants that aren’t paying. The goal is to bring income. We want to make sure that people are moving there. We want to make sure that there are different types of employers. There’s a lot of thought into the market selection.

Apartment Investing: You can’t completely reduce risk, but you can start thinking and pre-planning.

In EXTRA, we’re going to be talking about how to mitigate risk. My belief, and correct me if I’m wrong, is part of the mitigation of risk is how you choose a market. Is that true?

Absolutely.

We’ll do a deeper dive on that, so we get a little bit more conversation around that in EXTRA. I’m super excited about that. You talked about passive investors versus active investors. Give me your perspective on it because, as a doctor, it’s going to look very different than it does for the rest of us. Go ahead and define for me what you were looking for as far as a passive investor versus an active investor.

Personally, I love passive investing. It is the ultimate way to explode your wealth. The biggest reason because of that is because of leverage. You are leveraging other people’s expertise. I’m not going as a passive investor to go and fly into every city, drive around, see what the best areas are, and then do research on which companies are moving there, who’s moving their headquarters, and what’s happening in the city design planning. Someone’s doing that for you. You’re not spending your time doing it.

You’re also leveraging other people’s relationships. You’re not having to forge relationships with brokers and tour properties and show them that you’re serious. You’re also not having to sign on for any loans. When you’re a passive investor, you’re not having to find the financing, the debt, and all that stuff and meet all these bankers and mortgage brokers. You don’t have to do all of that. You also don’t have to be finding the deals and analyzing them. You’re leveraging other people’s expertise. You’re leveraging other people’s time.

You have a life. You’re a busy professional. You have a family. You want extra income, but you don’t want to be tied to a new hobby where you’re like, “I wasn’t planning on being a landlord,” where tenants are calling you about termites and how there’s a leak or a fire. Passive investors don’t have to deal with any of that.

Active investors, on the other hand, are the people that want to do work. They’re the ones that are finding the properties. They’re the ones that are doing the market analysis. They’re like, “Is this a good market? Is this a good property? Does this make financial sense? What is the business plan? Is this a buy-and-hold? Are we holding it for a long period of time and waiting for it to go up, or are we renovating it? Are we raising rents? What are we doing?” You’re the one that creates the plan. You’re in charge of it. You’re also in charge of executing that plan. It is making sure that the contractors are coming, that the property managers are renting out the units, and that there’s marketing to the property.

You’re doing a lot of that stuff, and then at the end, you’re the one that does the exit plan. You either refinance it or sell it. Active people are doing active work. It depends on what you want as a person. How do you want to design your life? That’s what I love about real estate. Anything you do in real estate, you’re going to do well. Is it active? Is it passive? Is it commercial? Is it residential? There are so many things that you can do, and you’re going to do them well. As long as you have the right team and the right education about it, anyone can do it.

Apartment Investing: Anything you do in real estate, you’re going to do well.

It’s available to anybody. That’s what I love about real estate. That’s not true in other parts of the world, but here in the United States, we are so lucky. The government even helps you do it and rewards you for doing it. They want people to own their houses. They want people to feel committed to their communities. They want that, so they encourage us to do that.

It’s interesting because when we look at passive versus active, there’s a whole spectrum of passive versus active. The ultimate passive is investing, for instance, in REITs or syndications. I’d love for you to address that. It is all the way to fully actively being the syndicator doing all of those other things. Personally, I have an active model, but I only 5 five to 10 hours a month. It’s active, but I consider it passive. For me, that’s what I consider passive, but you’re right. It’s not fully passive.

I’m my own acquisition person. I have the exit strategy. I’m calling the tenants for rent raises. I’m doing all of those things. It doesn’t take me a lot of time, so it seems much more passive than a 40-hour-a-week job or a 60-hour-a-week job, which is what I had before. It’s still very passive. It’s more active than what you’re talking about. Could you tell me a little bit about your perspective on REITs versus syndication?

A REIT is very similar to a stock. You are buying shares of a company that is owning and managing properties. You’re not owning the real estate itself. A positive with a REIT is that your money’s not locked into a property. You can buy it. The stock, you can sell it. It’s like the stock market. You’re liquid. You can go in, and you can go out.

What I don’t like about REITs is that you don’t own the real estate. You’re investing in a company. If the company is spread thin or something happens in the company, those shares do go down. It’s not a for sure thing, not that anything is for sure. Real estate is getting the depreciation from the real estate. If you are owning part of a company, you’re not getting the depreciation. In syndication, you are an actual owner of the property. You get a depreciation. You get the tax benefits without having the headaches of home ownership.

Apartment Investing: In syndication, you are an actual owner of the property. You get depreciation, the tax benefits without the headaches of home ownership.

Thank you for that. That was awesome. I love what you’re sharing. I’m so inspired by your story and what you’ve been able to do. Could you tell us how people can get in touch with you?

I have an email account. If someone wants to email me, it’s [email protected]. You can email me. I’m happy to hop on a call and talk to you about what you want, how you want your life to look, how active you want to be, or how passive you want to be. Picture a day when you go to work because you want to go to work, not because you have to go to work. Picture a day when your spouse tells you, “You seem healthier. I love the freedom that we have now in our life.” Picture a day you can travel if you want to travel, relax if you want to relax, or serve others if you want to serve others. That’s what real estate investing can do for you. That’s what it did for me. That’s why I’m so passionate about real estate and helping other people. Email me. I’ll be happy to connect.

I love that. Tell us a little bit about your free gift.

I offer a free masterclass about passive real estate investing, what it is, what are the different asset classes you can invest in, and the difference between active and passive. It is a lot more in-depth than we’re talking about here. We’ll talk about what syndication is and what returns we are looking for. You can find it at Invest.ShalwinProperties.com.

That is perfect. Thank you for that. That will be a great way for people to get started and get to know passive investing a little bit more. Thank you. We are going to be doing EXTRA, which is going to be about how to mitigate risk. We’re going to be doing a little more of a deep dive also on finding markets. We’re going to do that after our three rapid-fire questions. Are you ready for three rapid-fire questions?

I’m ready.

Give us one strategy for getting started investing in real estate.

The best way to start is to find out the different ways that you can start and figure out how you want to start. Do you want to be doing it all? Do you want to start passive and then be active later? Do you want to start active and maybe be passive later? Do you want to do both? The first step is to sit down and think about what you want to do and then do it. That’s my big thing. Taking action is so important.

I agree with you on that. What is one strategy for being successful as a real estate investor?

It’s important to listen to podcasts. This is an easy thing. Try to educate yourself by hearing people talk about stories about how they did it. Once you hear how they did it so many times, you start thinking, “I can do it, too. It doesn’t sound so hard.” Listening to other people’s successes and how they did it is important in being successful yourself because success leaves clues.

It’s a personal self-brainwashing, isn’t it? It is building that confidence. It all starts in mind.

I believe that strongly.

Tell us one daily practice you do that contributes to your personal success.

We’re going to do mindset. I work on my mindset every single day. Stress is wired into me, whether I’m in the ER or doing real estate. My mind is always thinking. In calming my mind down, one of the big things that I do is meditate. I also practice something called reframing, where if you’re thinking one thing, you release, pause, and start thinking like, “Is this thought serving me? Is this helping me to think this way? How am I going to get where I want to be?” It’s certainly not going to be thinking this way. You got to start thinking the other way. Trying to manipulate how I’m thinking and trying to always reframe is a big thing that has always helped me.

Reframing is such an interesting thing because people are like, “You’re making it up if you’re reframing.” The thing is that you made it up in the first place. Any situation that’s happening could be happening to ten different people, and they would have ten different reactions. The situation is not the problem. It’s a story that we make up about it that creates our response. If you’re going to make up the story anyways, you might as well make up a story that’s more serving to your business, your joy, and your life.

There’s something in our minds that we have something called automatic negative thoughts. That is back in the caveman days when we were trying to protect ourselves. We’re like, “Someone’s coming,” and it could be a tiger or whatever it is. That is a preservation thing. Our mind does that. We have to stop. We don’t have to listen to every single thing our mind tells us. That’s something that is important for people to understand. You need to recognize when you’re starting to spin in a spiral of negative thoughts that might not be true.

True is an interesting word. There are some basic truths like don’t kill people. That’s probably a basic truth. In general, in our lives, truth is very subjective. What you’re perceiving is not necessarily true. I love that. Thank you so much for all that you’ve offered in this portion of the show. This has been wonderful, Ronnie.

Thank you so much for having me. I love talking to you.

We get to talk more in EXTRA. Stay tuned. We’re going to be talking about mitigating risk in syndications and picking markets. I’m super excited about that conversation. If you are subscribed to EXTRA, stay tuned. If you’re not but would like to be, go to RealEstateInvestingForWomenEXTRA.com. For those of you that are leaving Ronnie and me, thank you so much for joining us for this portion of the show. You know how much I love having you here. I look forward to seeing you next episode. Until then, remember, goals without action are just dreams, so get out there, take action, and create the life your heart deeply desires. I’ll see you next episode.

 Important Links

• Dr. Ronnie Shalev
• [email protected]
• Invest.ShalwinProperties.com
• RealEstateInvestingForWomenEXTRA.com

About Dr. Ronnie Shalev

When I was an ER doctor, my high pressure job sucked the life out of me. I was left weary, burned out, and unable to enjoy my family, my kids, and my day-to-day life. Since I made great money, I felt hopelessly stuck in these “golden handcuffs”, and saw no end in sight.

Now I help others create PASSIVE INCOME so that they have the FREEDOM to do what they want with their time and not be held captive by their jobs.

SHALWIN PROPERTIES partners with investors who want access to real estate deals so they can get the benefits of real estate without the headaches of being a landlord.

Whether you want to diversify your assets, earn passive income, hedge against inflation, or maximize the tax benefits that come with real estate investing, Shalwin Properties helps you every step of the way.

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

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

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.

blissfulinvestor.com

Passive Investing: The Key To Achieving The 5 Freedoms In Life With Whitney Elkins-Hutten

Passive investing is one way to the five freedoms in life: freedom of income, choice, independence, location, and impact. When you get into passive real estate investing, you need to be sure of what you want, why you need it, and what you need to do to get it. Once you know those answers, you will be free financially and personally. Join Moneeka Sawyer as she talks with the Director of Investor Education at PassiveInvesting.com, Whitney Elkins-Hutten. Listen in as they discuss how you can achieve true financial independence in real estate. Learn why financial freedom isn’t the only freedom you need in life. Find out how to time block your calendar to make the most out of your time. Plus, discover how to get into real estate syndications. Tune in for more!

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Watch the episode here

Listen to the podcast here

Passive Investing: The Key To Achieving The 5 Freedoms In Life With Whitney Elkins-Hutten

Real Estate Investing For Women

I am so excited to welcome to the show, Whitney Elkins-Hutten. She is the Director of Investor Education at PassiveInvesting.com and a partner in $700 million in real estate, including over 6,300 plus residential units and more than 1,400 plus storage units across 8 states. She experienced flipping over $4 million in residential real estate. That’s an awful lot of real estate, Whitney. Welcome to the show.

Thank you.

Whitney is one of these patient beautiful people we’ve had to reschedule several times. I super appreciate that you are even here. Thank you so much for that.

My pleasure. I’ve had to reschedule myself.

Whitney, could you give us the high-end version of your story? Why are you in real estate? How did you start? Give us the short and dirty version.

I started in real estate investing in 2002 by accident. I started as an accidental landlord. I bought a house with a significant other. About a month later, the relationship fell apart and the house and everything were in my name. I was terrified. I was like, “What am I going to do?” I was young and didn’t have a family at the time so I stuffed the house full of roommates.

The house also needed a huge rehab. There were psychedelic flowers painted all over the walls from the 1960s that had never been taken down. Poor layout, you name it. A green sheet was covering beautiful hardwood floors. My roommates didn’t mind living in a construction zone. As a matter of fact, I paid them a lot for beer, pizza and sushi.

We turned that house around in about eleven months. When I sold it was probably my number one investing mistake because I didn’t realize the power of real estate at that particular time. I had read Rich Dad Poor Dad and got it all wrong so I had to go back to school. What I did realize when I sold that property is I made more in eleven months than I did in my day job working 60, 70 and 80 hours a week in public health and traveling all the time.

I hadn’t been paying for my housing at all because my roommates had supported the majority of the bills with rent. I was like, “How many more times can I do this?” That term is called live-in flipping. I did a few more projects by myself and then my husband eventually joined me. Not all projects went extremely well. Maybe some people here have heard of the story where the bus fell into the roof of one of my properties. Yes, that did happen. Most people are like, “How does the bus fall on the roof?” On a mountainside, it will happen there.

Fast forward to ten years, I found myself not able to leave my day job. I didn’t have any more financial independence than I had started with. I had buckets of equity but I couldn’t pay my day-to-day bills consistently with that type of income. It dawned on me. A friend of mine mentioned to me one day, “Why don’t you keep those properties and put a renter in them with that land?” I scaled to about 30 properties. About a year and a half, single-family properties in-state and out-of-state.

Another problem is that I was able to step away from my day job to be at home with my family and our young daughter but my husband couldn’t because we couldn’t pick up properties fast enough. We hit another ceiling of achievement and had to learn how to scale through the larger multifamily property. We did it both actively and passively.

I quickly learned that I’m more geared toward the passive side of investing. That brings me to where I’m at. I’m still a partner in all that real estate that you named. However, one of my favorite investment vehicles is how to get into passive real estate like multifamily, self-storage, car washes, hotels and even real estate debt.

That’s what’s been able to afford my husband and me to have the five freedoms in life, freedom of income, freedom of choice, freedom of location independence and freedom of impact. That’s what I get to do here every single day at PassiveInvesting.com. As the Director of Investor Education, I help people realize those same goals for themselves. It’s a journey I took.

Passive Investing: Passive investing is one way to the five freedoms in life: freedom of income, freedom of choice, freedom of independence, freedom of location, and freedom of impact.

It’s so interesting that you did read Rich Dad Poor Dad. That’s the book that seems to start a lot of people on investing. You’re still like, “I’ll get rid of this one.” I have to tell you that I made a similar mistake. I hadn’t read Rich Dad Poor Dad at the time because it wasn’t out. That’s how old I am. I sold my first piece of real estate too. Years later, I was like, “What was I thinking?” We bought it for $200,000. It is now worth $1.75 million. That’s the way things go.

It was the second book for me and Cashflow Quadrant. I know Robert Kiyosaki goes over the cashflow quadrant in Rich Dad Poor Dad. I wasn’t in the space to absorb what he was trying to say there. I knew I had landed on something with real estate. I still had this thought that I have to put in all the work. That’s the only way that I can be rewarded. I have to provide all the value.

That’s not necessarily the case. It was more about how can you shift your income from trading time for money into either building your business or learning how to invest in other people’s businesses. It was about ten years after that when I hit the first inflection point. When we decided to start holding onto some of these properties that we were flipping, I read that book. It was a slap in the head.

Tons of bricks came crashing down because how many flips had I done before then that we hadn’t held onto? I’m like, “That would’ve been amazing if I could have kept them all.” We were buying with a low down payment. We had low-interest rates. We were able to use 203(k) loans for construction because we were living on the property. We were using the 121 exclusion, which is the 1031 exchange for real estate investors to keep our capital gains tax-free. How powerful would that have been if I was able to keep all of those?

I love this conversation, Whitney, as we’re starting together because I would like this to land with people. Much of the time, people that are reading this show understand real estate and what leverage is to a degree. It is hard to switch from the mindset of trading time for money to having your money work for you passively.

You work on the front end but then you let it work for you after, in a way, like hiring an employee that you don’t have to manage. There are a lot of people that have W-2 jobs that have a hard time making that switch. It’s interesting that you mentioned that even as a flipper, you were in real estate and still had trouble making that mental switch.

I have a lot of properties where I have tenants in them. They’re mostly passive. We know that as a landlord, if you’re managing your property, it’s mostly passive, not completely passive. I make a lot of rent and appreciation on those properties by doing very little work. Relatively, the trading time for money is very low. My ROI is huge for the time that I spend.

I am trying to move to fully passive. It’s even hard for me to go there because once you’re used to being in a way of doing things, it’s hard to go to that next level. I wanted to say that so that the ladies that are reading can see that if you’re having trouble fathoming this and taking that next step, understand that all of us, from the people at the very beginning to the people that have reached great heights in real estate, do have trouble making paradigm shifts when we’re going to the next level. Sometimes we need to hear, “It’s okay. You’re not alone. We all do this,” but it is necessary to make that paradigm shift to get there.

You talk about paradigm shifts but for me, it was my identity. The initial shift of being able to step into real estate and allow it to work for me. Shifting my active income from my public health job into being a real estate professional. I spent how many years in school and training, studying for board exams and all of that. I know that if I want to have true financial independence, I have to let that side of me go. It’s not that I will never do public health ever again. It’s just that I’m not a public health professional, I’m an active real estate investor. I have a lot of controlled property that I own and I use property management.

As I started unwinding some of that portfolio and shifting it into truly passive investments, passive with your time and income, that was another identity shift. Those core 30 single-family properties, my babies, I had trouble letting those go because I was like, “I’m a single-family investor.” That’s what I do. I knew if I needed to go to the next level, that part of me, I needed to shift my identity yet again to be a real estate investor. You get to create more impact in the world too whenever you do that. For me, it’s those 30 single-family properties. At one point in time, we were up to 52 between Indianapolis and Kansas City.

If you think about it from how I was paying my real estate taxes, I’m only impacting 2 areas and 52 households. Now, I’m across eight states and multiple cities in those areas. The taxes that I pay in those areas and the thousands of families that we’re able to impact, it’s a greater impact that I’m able to create. It is like Marie Kondo. You got to give that old you a little hug and then step into the new you to realize that full potential.

It is interesting because we’re evolving beings and we have so much potential to evolve as human beings but then also financially in our impact on the world and those sorts of things. You’re right. Every single time we step into that new identity, it’s a complete transformation. What also can happen to a lot of people is this Imposter syndrome. “I don’t belong here. I got all those degrees. That’s where I belong. I’ve been doing this for 40 years. This is where I belong.”

The thing is that nobody defines where you belong except you. I have often said, even about Imposter syndrome, that if you’re not failing it, you’re not going big enough. You’re not pushing yourself to that next level. When you push yourself to that next level is where you start to feel that doubt but you’ll get there. You did it the first time too.

To become the identity that you are now, you pushed. You did this education and all these hard things to become that person. Ladies, I wanted you to know this. Maybe it’s time for that identity shift so that you can go to that next level. You have 5 different kinds of goals that you look at in life and 5 areas of financial freedom. Talk to me a little bit about your perspective on goals, not financial freedom but five kinds of freedoms.

These aren’t concepts that I’ve created. These are things as a student of history. My dad was a History major and I rebelled against every museum he ever took me to. It wasn’t until he took me to Custer’s Last Stand in Montana that I was like, “I need to get this. I need to start studying the past.” Studying these great people so we can learn.

The reason is not that we will never make mistakes ever again, but so we can collapse time and get through those obstacles and mistakes faster. I know that was a little bit of a tangent but stick with me here. When I started hating those first levels of achievement, even with that first house, I’m like, “The first house went swimmingly. In the second house, I did everything wrong. What was happening?”

I essentially repeated the same thing but here I barely broke. My neighbor tenant who was living in a bus fell into the roof of the property the day after it sold. He’s pulling a shotgun on the police. I’m like, “What? I went off the rails somewhere.” It was because I hadn’t taken to heart the lessons that I could have been learning. I don’t have to learn them all myself. I can learn from other people.

Long story short, it was like, “Success leaves clues.” That’s one of the quotes that I love by Tony Robbins. Who can I learn from and start piling all these different pieces together? When I heard about the five freedoms in life, I was like, “That’s it.” When people said I’m pursuing financial freedom or financial independence, I’m like, “That’s one but there’s something else there for me to pursue.”

It can’t all be about money. I landed on choice in time but there’s still something else there for me to pursue. When I heard about the freedom of location and independence but more importantly, the freedom to create an impact, I was like, “That’s it. That is what I’m after.” Every time that you talk with an investor or a client and you start to uncover what they’re trying to achieve in life, it’s going to boil down to one or multiple of those freedoms.

That’s step one. What do you want? Which of these freedoms are you truly going to go after? Step two isn’t about re-engineering the math behind how to hit that freedom. This is where a lot of people sell themselves short. They’re like, “If I want to have financial freedom, time freedom and be a location independent, I need 20 houses to go hit $10,000 a month.”

That’s not the question you should be asking yourself. You need to understand how you want to feel when you hit whatever X goal is, financial independence or freedom of choice. You’ll always move the goalpost on the number of houses and the amount of income that you want to create. That’s how people go through life unfulfilled if they continue to move the goalpost. We all do it.

Passive Investing: You need to understand how you want to feel when you hit your “X” goal. Because people will always move the goalpost on the amount of income they want to create and that is how they become unfulfilled.

Whenever they can define how they want to feel, that’s when they understand what enough and fulfillment is. You can always do more. There’s always room to do more but you have to understand for yourself, “How do you want to feel whenever you do attain your goal?” Understanding, “What do you want? Why do you want it?”

We can start re-engineering, “What kind of mindsets and skills do you need to acquire? Whom do you need to have in your world? Does it have to be you that does things or can you hire it out and shorten your path even further?” Those are the three centering questions that I challenge anybody when they’re working through their goals.

As we decide on a goal or land on a goal, for this conversation, we need to decide on strategies that are going to help us to get there. How do you recommend people do that?

That would be in that third question. Who do I need to become to achieve the goal? Do I need to let go of an identity? Do I need to shift my mindset? What do I need to embody to be a real estate investor that’s bringing in $10,000 a month? I have to probably break those initial identities around being an employee who’s told what to do.

I’ve got to switch to an entrepreneurial mindset. Thinking through what are those mindset changes that somebody needs to make. This process can take a couple of hours in the afternoon to think through. Once I’ve made these mindset changes, I’m going to pretend that I am this entrepreneur that’s bringing in $10,000 a month. What kind of skills does that person need to have? They probably need to have some financial skills, goal-setting skills, team-building skills, relationship-building skills and negotiation skills.

In some way, processes around tracking progress and continually checking in with themselves. Not once a year, not every six months, not quarterly. Weekly or daily. Whom do you need to have in your world to make this happen? When we’re first starting, we’re probably the ones that are wearing all these hats as the operator of our business. I encourage people to think future state in 1 year or 5 years. Elevate yourself to CEO quickly, which means you shouldn’t be the one posting on social media or sending out networking emails. You might have to do that at the very beginning but quickly let go of that and start bringing people into your role to help you out with these things.

Think about how you’re using your time. I take people through a wonderful exercise on time management. It’s helping them color code their time and putting dollar amounts to the activities they’re doing in their day. The shift in thought can be overnight and very impactful when you realize that you’re doing a lot of things that are robbing you of money, as opposed to giving you wealth, not only financial wealth but personal wealth, health wealth and stuff like that.

I’m super curious about the color coding your time blocking to see where you’re losing your time.

I would encourage the people who are reading to go and look at your calendar. Write everything down. Maybe you’re doing this retrospectively. It’s like doing a food diary. Nobody wants to write down, “I had a Snickers bar or I drank a Coca-Cola,” especially if they’re trying to lose weight. Do that. Write everything down.

How much time do you spend on social media, watching TV or doing all these things that you may not need to do to be successful? Once you have it all written down, this is about getting real with yourself. You’re going to go through anything that you’re getting paid $0 an hour to do and color code it brown. This might be mowing the lawn, washing dishes or doing laundry. I’m not going to beat up TV, social media or anything like that.

The next thing to do is to go through and do any of those administrative tasks that you have to get done. They are related to your business but there’s no exchange for money. Maybe it keeps the lights on. You would pay somebody $10, $15 or $20 an hour to do. Color code those in light green. There are going to be those activities whenever you step it up. They’re going to be networking events or meetings that only you can do but if you train the right person to do it, they can do it. Maybe those type of activities yields you $100 to $1,000 an hour. Color code those in the brightest green you possibly can.

You’re going to go through any of those activities that only you can do that you love doing and you’ll do $2,000 or more an hour. Color code those gold. If your goal is to spend more time with family or your health, those things are priceless as well. Color code those things gold. The first time somebody does this, they’re going to realize that their calendar looks like a pile of poop. It’s a lot of browns. We’ve given the context of where you’re spending your time.

What do we do? We try to reduce, eliminate or outsource as much as we can the brown things. Cut what you can. Get it all gone. It’s hard like going on a diet. Those things tend to creep back in. Automate whatever you can and then outsource. Do you have to be the one to mow the lawn? Do you have to be the one to do the laundry? We’re outsourcing to our daughter some of these things so she can provide value to our household. I love gardening. I know I don’t need to be shutting down the garden for the winter. I have somebody coming tomorrow who’s spending all day gardening. I get to tinker around with my little herbs.

The light green things are going to be the first virtual assistant that you’re going to hire. They’re going to take on all of those low-level tasks for not that much. Maybe you pay them $10 or $15 an hour. They’re going to get it done so much faster than you can because that is their primary job. As you start scaling your real estate business, you’re going to start bringing in more people or partners to help share the load on those bright green tasks.

What that does is it’s going to open up more time for you to bring in those yellow tasks, those conferences that you should be going to network, the deal-finding activities that you need to be doing to scale your portfolio, spending time on your health, your family and relationships with others. We’re starting to open up time. When people say, “I don’t have time,” it’s a clue that tells me that they haven’t done this inventory to understand how they’re spending their time.

Passive Investing: When people say that they don’t have time, that’s a clue that they haven’t time blocked their calendar. They really don’t understand how they are spending their time.

On the other side of that, when you free up a lot of your time and you say, “I don’t have time,” it’s more about examining, “Is that because this is something you don’t want to be doing?” You can take it on both sides of that. In the front end, you clear up a lot of that time if you’re still feeling like, “I don’t have time.” You do have time now for the things that are important to you. Are those other things not important to you?

Also, if they’re not in alignment with the goal. I sit down with my family once a quarter and do what we call a dream session. What are the things that we want to learn and experience and how do we want to give back? Those are the three key areas for happiness. There are so many things that I want to learn like language and playing chess.

I have 50 things written in those categories but I don’t have time to do it all. You continue still to have to make choices. The things that you still can’t make time to get, does it align with your goals? How bad do you want it? We’re centered back on those three questions. “What do you want? Why do you want it?” Sometimes you have to purge. Every year, I purge a lot of the activities that I thought would be cool to do. I’m like, “They’re not. I don’t want this.”

Thank you for that. That was super awesome. I’m going to try that. I love the visuals of the colors. Talk to me about real estate syndications, syndicators, operators, markets and all of that stuff.

I have a whole process. I have boot camps. People can reach out to me. It’s this little ten-minute primer. It’ll work for them because it is truly a process. The first thing to understand is syndication means group investing. A lot of people initially are like, “I don’t understand what syndication is. It sounds like the mafia.” It’s not. Syndicate comes from the Latin word “As a group.” As a group, how can we take down a larger asset?

We split that group further down into limited partners and general partners. General partners are the ones that are going to be the day-to-day operators who run the business. They’re going to be sourcing the deal, underwriting the deal, acquiring the deal, raising capital and figuring out credit and lending. They’ve got all the brokers and lenders. They can get other investor capital pulled together. That’s their core business.

The limited partner’s job is to do three things. Vet the operator, market and deal. That’s it. Once they write that check, essentially, they still have other jobs because they’re in a partnership. They still need to read the communication, ask questions and be responsive to any needs that the general partner has of them. Largely, their day-to-day operation role is non-existent. They’re done.

This is a great way for somebody who’s a high net-worth individual and somebody ready to transition from having their controlled portfolio. They’re ready to fire Home Depot and their property manager and get their time back. This is a great avenue. It can even be a compliment to somebody’s portfolio. Maybe somebody loves doing this specific niche part of controlled real estate.

They want to have exposure to multifamily, self-storage, car washes and hotels but they can’t. They shouldn’t and they can’t go learn it all and be the expert in everything. They can invest with experts. That’s what syndication is. The first question in this process is, “Do you love real estate?” If you can’t check that box, this isn’t for you. “Do you believe in real estate?” That’s a better question. A lot of people here do believe in real estate already. We can check that box.

The next question is, “What are your goals?” Do you need cashflow, tax benefits, equity or diversification? I have a whole eBook that walks people through this exact process. You need to understand your risk. Do you want a class-A asset? No CapEx, no maintenance. Do you want more value to add or plus assets where there’s maybe a little bit of CapEx and deferred maintenance to work on but you get maybe a deeper discount on the property?

Are you swinging for the fences and you want a development deal or a heavy-value add opportunistic deal? There are different reward profiles and risk profiles for all of these different types of assets. You have to understand what fits best for you and your portfolio. That’s all the groundwork. You have to do that groundwork first and it doesn’t have to take long. I walk people through a process that takes them an hour to get all these questions figured out for themselves.

It is then the time to go look for operators. We’re looking for high-quality operators. One of my favorite ways to find operators is by going to conferences or meetups. You can do a simple Google search if you would like but you got to get good at discerning great marketing versus a great operator. Always get on the phone with the operator before you ever write a check. One of the number one investing mistakes I see limited partners do is that they love the operator. They’ve heard about them through a friend but they don’t get on the phone with them themselves to fully understand if this is the right person for them to be in partnership with.

Passive Investing: When looking for an operator, always get on the phone with them before you ever write a check. You have to know if they are the right person for you to be in partnership with.

We’re trying to figure out, “Are they genuine, authentic and transparent? Do they have a background in real estate? What is their track record? What exits have they currently produced for their limited partners? What are their biggest challenges have been?” We went through the COVID pandemic. We’re butted right up against heavy inflation and a recession. We’ve had all sorts of weather-related issues in the past couple of years.

There has to be some challenge that’s cropped up. I’m not looking for an operator that has had zero challenges. I’m probably more attuned to invest with an operator that has had challenges and overcame up well versus somebody who’s never had a challenge. What you’re doing when you go into passive investing goes back to that identity shift.

You’re no longer the day-to-day operator on a deal. You’re investing. According to Robert Kiyosaki’s Cashflow Quadrant, you’re getting into that self-employment category and shifting into that investor category where true financial freedom and time freedom are found. You have to get good at vetting operators. The other mistake I see limited partners make is that they get starry-eyed by returns on deals. I can put any number down on these papers guys.

I can show it to you but the operator is the one that has to deliver so you’re investing in people primarily with this type of strategy. Whereas before, you were the strategy and the person. Essentially, this was leveling up, becoming the CEO and back-filling with a Director of Operations or a CO to help build and scale your investment business. There’s a wealth of questions that you can ask an operator here. That gives you a high-level little primer on that but then you want to understand what markets they’re in. I encourage people when they’re moving into passive investments to be in markets where a lot of investing cards are stacked in their favor.

I like metropolitan service areas, maybe in the primary area or the secondary area or 35 to 40 miles from the city center. There’s a lot of infrastructures there. There is going to be a lot of money put into these areas. Certain areas are scaling there. They’re becoming a tertiary market and they’re scaling to a secondary market. You can find those areas to be on the path of progress but we’re looking for areas where the population, income growing and jobs are growing and diversified. Crimes and poverty is coming down.

We’re also looking for areas that have good landlord-tenant laws, especially if you’re going into multifamily. Certainly, good tax laws because taxes are one of your number one expenses on any real estate asset. If we can be in those pro-business areas, that’s even probably a feather in a cap for an investment. There are tons of other questions there and resources that I can share with people on how to suss out good markets and then we get down to the deal. A lot of people are like, “Show me the returns and the money.” That’s not where we should start.

Passive Investing: When you get down to the deal, don’t just ask for the returns and the money. You need to first double-check the deal if it matches your goals.

We need to double-check that deal. Does it match our goals? Where do we want to be invested? How do we want to be invested? Equity, tax benefits, diversification, is it in the markets that we want to be in? We can start getting into the business fundamentals of the deal. Does it have the risk profile that we want to have or be exposed to? Does it have the time horizon that we want to be exposed to? Does it have a distribution schedule that works best for our finances monthly, quarterly or annually?

We can start getting into the return profiles on the asset. There’s a wealth of other things that people need to do to complete actual true due diligence when they look at a deal. Those are some high-level screening-type questions to help somebody get jumpstarted into passive investing. When they look at an initial deal, to understand in a few minutes whether that deal will work for them.

Is all of that covered in the book that you’re going to be giving my ladies?

Yes, and more.

Why don’t you tell us a little bit more about that book? Ladies, Whitney has been super generous. She’s giving you a digital copy of her book.

It’s called The Passive Investor Playbook. It’s the ultimate guide for hands-off investing. It’s a free eBook. You can go to PassiveInvestingWithWhitney.com. It’s a subpage on the PassiveInvesting.com website. Be sure to go to PassiveInvestingWithWhitney.com because that’s the only place where you can get this eBook. Once you read it, I also put together a short checklist for people, that way they can have that short checklist and do a quick screening on a deal in the future once they learn these general principles. There is an opportunity to schedule time with me and we can talk about all things real estate. I love it.

I love that. Thank you so much for your generosity in sharing that. This has been good. We went a little bit off-topic of what we were originally planning on talking about but I feel, Whitney, you’ve offered such valuable information to my ladies. I super appreciate that.

It’s my pleasure.

Ladies, one of the things I asked Whitney to talk to us about in EXTRA is car wash deals. This is something that nobody has talked about on this show and I’m super intrigued about it. We’re going to talk about investing in car washes and what that looks like. Stay tuned for EXTRA to know more about that. Before we go into EXTRA, let’s do our three rapid-fire questions. Tell us one super tip on getting started investing in real estate.

The super tip is going back to understanding the three questions. “What do you want? Why do you want it? Whom do you need to become to get it?” When you answer that third question, it’s mindset, skills and networks. That’s what you’re digging into. It’s not a one-and-done deal. Continue to ask those questions. If you’re just getting into real estate, do it once a quarter. Once you get solid in your plan, do it every six months. Eventually, you do that as an annual ritual.

1) It’s going to take you time to land on what you truly want. 2) Your wants are going to change as you move those goalposts down. Those are the three centering questions. My family does that still once a quarter to double-check that we’re flying the right path. If you’re flying from LA to New York, the majority of the planes are always off-course. If you can continue to do small course corrections, you’re going to eventually get to your destination.

What is one strategy to be successful as a real estate investor?

Understanding very quickly that it’s a who, not how game. That can be from delegating, offloading, automating and also relationship-building. You don’t need to do this in a vacuum alone. With many of the people that I work with, that is a hard challenge. We’re brought up as employees to do your work. Even in school, do your work, stay at your desk and don’t look at the other person. That’s not how real estate goes. The quicker that you can understand that it’s a community, it’s a team and the majority of the people are working together to get deals done, you’re going to scale fast.

Thank you for saying it exactly that way. I love that. What is one thing that you do daily that you would say contributes to your success?

For me, it’s putting my oxygen mask on first. I get out of bed. I have a kid, a dog and a husband. The first couple hours of my day are all focused on me and getting my top priorities done. My priority is my health and my relationships. Also, what is the first goal that I need to do and tackle getting those things done? I sound like the Army commercial like, “We get more done by 10:00 AM than most people do in a day.” That’s pretty much what I do but it’s putting my oxygen mask on first, eating, getting those things done and moving those chess pieces early on in the day.

By 10:00 AM, if my day gets derailed, I’ve already won it. My day on Monday got derailed when we had to take my daughter into the emergency room. She’s fine. I had already been up for a couple of hours and I was like, “Here we go. We’re doing this.” It didn’t set me that far back because I had already moved a lot of those chess pieces pretty early in the day.

That is great advice. Thank you for everything you’ve offered on this show, Whitney.

It’s my pleasure.

We’ve got more. We’re going to be talking about car washes. I’m so excited. If you are subscribed to EXTRA, please stay tuned. If you’re not but would like to, go to RealEstateInvestingForWomenEXTRA.com and you can subscribe there. For those of you that are leaving Whitney and me, thank you so much for joining us for this portion of the show. I super appreciate you and 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. Bye.

 Important Links

• PassiveInvesting.com
• Rich Dad Poor Dad
• Cashflow Quadrant
• PassiveInvestingWithWhitney.com
• RealEstateInvestingForWomenEXTRA.com

About Whitney Elkins-Hutten

The beginning of my real estate career went better than most—my first ever rental in 2002 was a huge success. It was on my second deal that I almost lost it all.

Those two experiences shaped my real estate journey into what it is today. Knowing there had to be a right way and that success always leaves clues, I studied the greatest real estate juggernauts and was able to replicate the personal finance and wealth creation strategies that they used to create financial freedom.

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

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

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.

blissfulinvestor.com

Excel At Short Term Rental Advertising With Mike Denman – Real Estate For Women

Investing in short-term rental advertising could be a game-changer for your real estate business. In this episode, Moneeka Sawyer sits with Mike Denman, CEO of Better Than Awesome, to discuss the exponential benefits of using social media ads to reach more people and get more bookings for your business. Mike shares his start in real estate and short-term rentals, sharing how he gained massive ROI by investing just a few short dollars in an advertisement. Throughout the years, Mike has observed the evolution of how ads can and should be used in social media. Listen to hear about tips and tricks on setting up a system that leaves you stress-free and income-rich. Stay tuned!

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Watch the episode here

Listen to the podcast here

Excel At Short Term Rental Advertising With Mike Denman – Real Estate For Women

Real Estate Investing For Women

I am excited to welcome to the show, Mike Denman. Mike is an award-winning filmmaker based out of Colorado who has worked in marketing and advertising for video games since 2011 and real estate since 2015. He has been at the forefront of technological advancements in connecting people to content through the internet via apps like Instagram, Facebook, Pinterest, YouTube, and too many others to mention.

He launched STRAdvertising.com in 2022 to help educate real estate investors on the power of advertising. Adapting his real estate advertising tactics to encourage higher amounts of web traffic to short-term rental listings was possible due to his years of iterating on the process. He has been a real estate investor for a couple of years. Mike, how are you?

I’m good. Thank you for having me, Moneeka. I am very honored to be here on your show.

I’m happy to have you. Ladies, you’ve met Mike before. I played a panel that I did with Mike and Laura Powers. That’s how I met Mike. You’ve already read his great advice on real estate investing, and through that conversation, I realized he had so much more to offer you. I wanted to have them on the show. Mike, thank you for joining us again. This is going to be awesome.

I’m very excited. Honestly, after meeting a lot of these other real estate investors, I’m like, “There’s a lot of people out there. They almost know all the things and need a little bit of help and guidance to be able to see some of that success,” especially with a lot of the short-term rental investors that I work with directly. That’s where I’m buying most of the actual level of information flows that are not there. I’m like, “This has got to be something that we help people with.” I’m happy to help people learn how to do that stuff. It’s going to compete with the big boys.

You said it in the panel before but remind my audience, why did you choose short-term rentals?

This is completely not even me choosing it in the first place. My partner, Patricia, she’s an incredible real estate investor. When we first started doing real estate investing, we were renting out a room in our house and even Airbnb-ed our master bedroom to see what that would do. We were even able to get two different people to rent from us at the same time. We are sleeping in kids’ rooms with all those Schell Games moving around.

When Patricia and I started investing in property, we were doing long-term rentals. Here in Colorado, the market was challenging for rents. In 2021, we were assessing what our cashflow was. We were getting $400 a month, maybe getting out of the long-term rentals, charging thousands of dollars in rent even for these places. We are like, “Let’s make an assessment.” I did a bunch of spreadsheets mapped over many years. I was like, “If we sell it, what could we do with equity? Do we buy a bunch of long-term rentals?”

Patricia ended up reading Avery Carl’s book, Short-Term Rental, Long-Term Wealth. She was like, “I’ve got to do these short-term rental things, and this is a whole new way of approaching it,” and I was like, “That sounds great.” I didn’t even think too much about it after that. I was like, “Cool.” We started doing the whole real estate selling and getting the properties done. Through the appreciation game, we had like $250,000 to work with. We were able to 1031 exchange into some short-term rentals.

As Patricia was going through and finding different properties, she found this beach property that was in Texas in Crystal Beach that was put onto the market. Someone had looked at it. Our real estate agent is like, “You guys should check this out.” It was a gorgeous place. It was $925,000 and was on the beach. We are like, “This is crazy amounts of money.” Our own house that we live in is not even that much money. It’s valued at $660,000, but we bought it for $420,000. It was a different time. The appreciation in Colorado has been nice, so it’s been helpful.

For the short-term rental selection process, Patricia did AirDNA to see how well the prospective comparable properties are going to do in terms of how much revenue they bring in through Airbnb through Vrbo. We found this Crystal Beach property. We were like, “This is great.” We ended up getting another property that The Real Estate Robinsons or Tony Robinson was sharing on his Instagram. They had flipped a house in Joshua Tree. Patricia’s like, “Sold,” and then we ended up going and buying that house that they listed and flipped.

We bought the Real Estate Robinson’s second flip in Joshua Tree, and there was a whole bunch of stuff that we wanted to change in that. We wanted to put it in a second bathroom. We ended up launching the first short-term rental in its first place in February of 2022. The Joshua Tree one, which we soft launched in June because we had people working on it. We didn’t want to have that whole thing going.

The reason I stepped in is the whole short-term rental itself was after the first three initial short-term rental bookings, which Airbnb is like, “Twenty percent off and you can get these things,” and more people come to it. They dump about 3,000 to 5,000 people onto your listing when you first launch an Airbnb, so there’s a large exorbitant amount of people that see your listing.

Short Term Rental Advertising: They actually dump about 3,000 to 5,000 people onto your listing when you first launch an Airbnb so that way there’s a large exorbitant amount of people that see your listing and the potential statistical value of that large amount of people is that someone is gonna book those three bookings

The potential statistical value of that large amount of people is that someone is going to book those three bookings. That’s usually the statistic I use with advertising. Out of everyone I show it to, about 10% end up clicking on my links, and out of that 10%, maybe 1% to 2% of those booked save it or they will share it with their family, which I don’t even know about until after they’ve already booked. They are like, “We shared this with our family,” and then they tell me about it. There are all these anecdotal pieces of it.

Patricia came to me and was like, “We need to have bookings. We have these mortgages. What are we going to do?” I was like, “Isn’t this whole new short-term rental thing? I don’t know.” I didn’t know too much about the short-term rental ecosystems or how those even worked on the platforms like Airbnb, Vrbo, and Booking.com. I was like, “I will run some ads. It will be fine.” She’s like, “Don’t tell me you are going to run ads. This is stressful. Aren’t you taking this seriously?” I’m like, “It’s cool. I will run ads. I will spend $100 and take ten days. Let’s see if it’s viability.” I then started getting bookings. I spent $2.43 at one point, and I got a $6,000 booking.

That ROI is pretty good.

That’s pretty cool. Another time, I started running the ads, spent $4 and some change and got a $3,000 booking. I was like, “I do feel that this viability.” Some of them the ads show me that people are not interested in some of the photos I’ve used, and then I can see which photos I need to put up as the front photos. I also use ads as a market research tool for which headlines or titles work to get people to click. I try spreading that information back onto my Airbnb. It’s a cyclical piece of the puzzle. I ended up having this inform this, and then I tested it out here. I throw a bunch of things out to test it. Me, getting into the short-term rental game was because we needed to get more bookings. I was like, “I could do that.”

I have been doing real estate marketing and advertising for a while but I’ve never done short-term rentals. I started talking to other short-term rental people and was like, “People are having a hard time with bookings.” I know exactly how stressful it is not to be able to feel confident that you are going to be able to pay that several thousand dollars mortgage.” If I don’t have money coming in to pay for it, I have to pay it off my own pocket. I don’t think that I want to have that going. I put the effort into dialing in and focusing on how to help short-term rental people get those bookings.

I have been helping people. I’ve gotten over a few dozen different campaigns I have been able to run for folks getting bookings. I do a lot of other assessments of where the people are coming from so they can find where their clientele’s coming from. Through ads, you can shape and create the ways in which people are introduced to your own system. What you offer is different from other people but when you look at it on the Airbnb system where there are all these familiarities, and some of them are super similar.

For example, people who invested in the Smokey Mountains in Tennessee. Some of those cabins look very similar. There’s not a lot of differentiation. When people are scrolling through Airbnb and looking at all this stuff, the hard part is they get analysis paralysis like, “I don’t know which one is better. They all look roughly the same. There are A-frames and all these other cabins.”

What the advertising does is it takes people from other platforms and then it puts them into your listing because they are not even seeing other listings. That’s one thing that is helpful because I’m able to charge more money per night on my listing, so I run ads. Over the summer, the highest was $379 more a night than comparable listings in my area. I’m like, “If I’m bringing people to this and those few out of 10% like my place and the 1% or 2% book, I’m getting my rates. If people don’t book with me and are looking around in that local area, then they are booking with my neighbors.” I have an indirect benefit to the area that I’m advertising to because the person to who I showed the ad to didn’t meet my criteria. They still are looking now for a vacation when they hadn’t even thought about vacation beforehand.

It all started with this whole need, and then it ended up being something. I was like, “This is a viable thing.” That’s when I started the business. I was like, “This is going to be something that I can have, and I help.” It’s not even my main thing but now I’m starting to do it more and more. I feel like it’s more fun and exciting because I like helping people, especially helping them make money. That the blissful side of things is when you have those systems in place, and they are working and doing what they are supposed to do so that way, you are not stressed out. Watching Patricia go through some of the stressful moments and I’m all casual, “No worries.”

Short Term Rental Advertising: When you have those systems in place and working, they’re just doing what they’re supposed to do so that you’re not stressed out.

That probably drove her crazy.

I felt bad. I was like, “I’m not trying to be all like hunky dory about it. I will run the ad. It’s what I do.”

It’s funny that you talk about putting in the systems to make it less stressful. I’ve said on this show before that systems are the key to bliss because when you have a system done or processes, you know that things are going to be handled. You don’t have to reinvent the wheel. You can hand it off to a VA if you so choose or to somebody else to help you. You also have a pretty good idea of what your results are going to be like. Certainly, you have to revisit the systems and results like things that are constantly changing and expanding but I have said many times that it’s a system and process that creates the bliss because it reduces your stress exponentially.

It does. When we feel the stress of paying our own mortgages sometimes, and even though we work and have jobs, we have the money, and it goes in, that’s the system. The job is the system to then facilitate the housing. All these things are already built into our own ecosystems. On the investing side, it is how you make investing work for you. You listen to the experts and take a lot of information in but those systems are all in the same thing.

You build out your Airbnb, Vrbo, and Booking.com. You then have an OwnerREz that connects to those that create one calendar so that way everyone is not double-booking a calendar piece. Having a double-book weekend is expensive, and it can take away your Superhost status if you end up canceling things. There are challenges that you want to avoid. Those systems create the ease of operating that way so you can do far less and enjoy life more. You then can see, “I’m getting far more than I would through my stocks.” It’s different.

Real estate is the number one way to increase wealth in America. If you want to increase it and succeed, you got to do something. I always think back to the Pareto Principle, the 80/20 Rule. Eighty percent of businesses fail in the first two years. These investment properties, when you look at them, they are little mini businesses. If you don’t treat them like a business, you are not going to see their success of it. It’s going to be stressful, and you are going to be one of that 80% that fail. The statistic I saw from BiggerPockets was that over 60% of Airbnb owners sell their Airbnbs within the first year of doing business or something like that.

That’s an interesting statistic.

Patricia will say this all the time, “It’s not for everybody,” and I can account for that. It is a job, and it is being hospitable. If you are not good with people and hire someone that is good with people. You have to have that system or whatever your faults are and ailments in terms of dealing with the hospitality side of things as we go to town on towels. We have more towels than reasonably possible in our short-term rentals. We’ve gotten many people who are like, “I want to leave a ten-star review because of the number of towels you guys had.

At this moment, we are like, “When we go into this short-term rental stuff, how do we want our vacations to appear, and how blissful would it be if this was available for other people?” That’s why we stock that many towels. With hair and all those things, sometimes you need multiple towels to do stuff. If you’ve got kids, you get all these wranglings. There’s a whole bunch of stuff. You can’t have like one towel to use. You must think about how you want to be perceived, especially as a business owner and a hospitality provider.

What makes your property special? That’s all marketing. I used to run Airbnb too out of one of my bedrooms. We used to rent a couple of bedrooms. That was one of the things that we did. People loved the towels. We always had fun towels. I had Polka Dots or Paisleys, and they were plush. People love the towels. It was the weirdest thing. I was like, “What is this?” They are like, “Where did you get these?” It’s so funny. You said you do Airbnb and Vrbo, and what was the calendaring system that you used?

It’s called OwnerRez.com. It’s Owner Reservation. That is our main connecting piece. It does the automation between the different short-term rental platforms. For pricing, calendar, availability, images, text, and all of those elements, you can change on those individual platforms but it takes time and effort. You can even pay OwnerRez for $500 or something like that, and they set all the stuff up for you.

There are emails that come out of their automated emails when you have a lease agreement you need to be signed and all these different things. There are cool features in that. If you pay a little bit more monthly, there’s a direct booking site, so you don’t have to pay half a separate website built out there. For direct booking sites, it’s a formidable experience doing it.

You are literally becoming the hotel. That’s all the liability and scariness of that. There are things that you have to pay attention to for direct booking, which is why I’m like, “I send most of my traffic to Airbnb now.” When I send traffic to Airbnb, I’m inorganically increasing the traffic flow to that listing view page. By increasing the views of that, I’m telling Airbnb’s search algorithm, “This is a popular property.”

It will put it on the top.

It raises in rank and makes you successful in terms of both organic searches as well as your ad searches. That way, the ads are influencing the ability of Airbnb to see you as a viable property. Since Airbnb changed things in the summer of 2022, it’s crucial to have some ways in which you can stand out on the Airbnb platform. What Airbnb wants now is unique places with very strange experiences. They want to promote all those things more so than the run-of-the-mill places that are perfectly reasonable to vacation in. Each of the systems is a different ecosystem. There’s a whole different Oprah episode that we can go into those things.

I don’t think that the Vrbo clientele leaves reviews quickly enough, so I don’t even push my Vrbo. Although, we get 30% of our bookings from Vrbo for the Crystal Beach property. I don’t get any of those bookings from my Joshua Tree property. There’s a difference in the type of person who’s using those things. Airbnb is almost like Kleenex in terms of brand recognition for the short-term rental game itself.

As investors, when we are going through it, we want to be in all of them. Whatever one you are on, you are going to have an opportunity for people to find you. In the Venn Diagram of the internet, there are all these people that go to certain sites or all of them. That’s a way in which you can stand out by standing up for all of them.

I want to start digging into the actual advertising piece. First of all, thank you for the algorithm update because I was not aware of that. As with everything else, whether it’s Amazon, Google, Facebook or whatever, everybody is updating their algorithms, and they have a definite slant on how things are going. I wasn’t aware of that update. Thank you so much for that.

It was a massive one. They call it the summer release. It was detrimental. I couldn’t even find my property listed on Airbnb after that. For their beachfront or ocean view category, they didn’t show my property at all. There are all these other things about those systems not working to their full effect of what they should do when they make those changes. Doing ads is what I have been succeeding at. I don’t even need to worry about being on that platform as much. The location is now findable but in those moments, it’s a little freaky when my name just dropped off.

I’ve had that happen too. I was a Superhost, and my property was always in the top three, and then suddenly, it disappeared. I was like, “What happened here?” It was interesting. Anyway, so let’s talk about advertising since that’s your genius. Talk to us about creating a digital presence to compete effectively. You’ve talked a little bit about it already on a high level but give us a little bit more on what to do.

I published a little book, and it’s very tiny and thin. It’s only 37 pages. I made a quick little guide on how to excel at short-term rental advertising. When you think about the digital presence and what people succeed at like “Where are people hanging out online?” We have a few different areas where people are online. Meta has Facebook and Instagram, and some other different websites that are all in that circle and sphere.

Short Term Rental Advertising: How to Excel at Short Term Rental: Advertising – www.stradvertising.com/monika

You have other ones like Pinterest, YouTube, and TikTok. TikTok is a great landscape because many people are on TikTok now. It’s excessive amounts of people. I have a friend doing syndication stuff as well. He’s going to start doing content on TikTok, teaching people about how to do syndications, where you all pull money in, and you can buy a property together. There are a lot of different avenues with that. They are also being used for NFTs, the Non-Fungible Tokens. Those are other areas that I have been helping people with as well. Not just with the advertising.

For the ad systems, you can operate on ecosystems like Meta, which is what I like to use for a lot of the short-term rental or real estate investing stuff, in general. With Meta Ads, I can literally create an advertisement that has an image or video. I usually choose up to 10 images or videos for 1 ad campaign. I then have five different pieces of text. I like using people’s reviews.

Whenever someone stays at your property, if you have a short-term rental or an investment property that is like commercial property or something else, you have some statement of actual patron or a customer of that and they are like, “I love this. This is amazing. I love staying here.” People trust what other people are saying more than what we are telling them as the actual owners. It’s not necessarily like, “Come visit my thing. It’s the best,” but it’s like, “See what people are saying about this,” and then you make your decision based on that. That helps people make those eccentric.

You run ads with a bunch of different combinations of text and little calls to action and create those little moments to use that digital presence to then tell people about it. Oftentimes people will say, “You have to be active on social media and all these things.” I’m like, “I don’t have a lot of time, and I’m not very active on some things.” I know the viability of being active on a social media platform like Facebook if I have a business page. If I post a bunch of things there every single day, I can’t even promise I would get much action or activity out of any of those posts.

People are oftentimes like, “I don’t see the viability of it,” but if you run ads, your posts are getting to people instead of them having to find it through all the different things. Facebook from 2018 is when they made the change. The first thing you see is events in groups. The things your friends are doing, the groups that you are in, and people are talking about stuff that you care about. You then see your friends’ stuff, and then below, all the way at the bottom, you see business pages.

Those business pages, that’s the viable thing that used to be what worked and tell people about stuff. I now post a few things on there and treat it like a digital billboard. Ultimately, I have enough information and photos on that Facebook Meta page where people then say, “This is what this is.” If it’s a short-term rental, they see where it is, the photos of it, some of the things to do in the area, and also the link to go book.

I use ads to tell people about the booking page. I literally don’t point them to the Facebook page. I tell them about the link. They see the Facebook page in the ad so that they can click on it. This is funny because I use a lot of different KPIs or Key Performance Indicators to see whether or not these ads are working. From the Facebook side of it, it’s the number of clicks I have on the ad is one thing but then the number of shares, interactions, responses, reactions, loves, hearts, all those little things, engagement with people talking about it, commenting, telling their friends, and tagging them in it. There’s all this activity that happens, and it’s lovely.

When people save the posts, I’m like, “This is golden,” because someone saved it. They might not be a client of mine now but they are probably going to book at some point. If they are aware of it and since they clicked on my ad, I can target the people who’ve clicked on my ads. I can say, “Remember the ad you clicked on. You should totally take a vacation. You deserve it. You are amazing.”

When you have those moments, these ads are doing all the posts for you. You could set up an ad campaign. All the different combinations of modular like texts, images, video, and all those things Facebook’s algorithm will put together for you. It will find the most performing, the most clickable, the most liked, the most effective, and a combination of all those things. With that, you can see a lot of cool data. You can start seeing, “What are people interested in?”

Short Term Rental Advertising: These ads are just really doing all the posts for you.

When I was starting with my Crystal Beach place, I was like, “This is a luxury place. It’s got vaulted ceilings. It’s great. This is better than anything I’ve ever lived in myself.” When I started using luxury or things I would normally do for luxury real estate, people weren’t clicking on it. When I used family-friendly or fun for the whole family, people clicked on those things in droves. I was like, “I see who my clients are.” They are people who have kids and families that are bringing people together. Ultimately, those little friendship circles are also a part of that too so it’s not families.

Those are popular keywords that I then put into my listing titles. That way, I’m like, “This triggers more people to click on this. If I update my listing, it’s going to then match what my ad said.” The ads inform what I put onto my listing itself, and the top photos go to the forefront of those listings. On my Instagram page we don’t have much activity in terms of us posting on some of our Instagram pages.

Our Joshua Tree property, that LA, San Diego, and Las Vegas crowd who usually rents in Joshua Tree use Instagram more. That’s something that we organically post on Instagram for those ecosystems to work a little bit more. I don’t see the viability of it quite yet but it’s nice to have some of those things working out.

Those markets for the Joshua Tree property like Instagram. How did you figure that out as opposed to Facebook?

When Facebook runs any of the ads, it’s going to send them out to Instagram and Facebook. It has all of those arranged. With Instagram, I saw the clicks were far less. I spent money straight up on Instagram $100, to see the viability of it. Out of that $100 spent, I didn’t get any results in terms of bookings. That made me feel that it wasn’t necessarily a viable source for new bookings from those ads. That’s something that might change. There’s an ebb and flow to things.

I’ve even started doing ads on Pinterest, and I can talk about that a little later but there are ways in which you can reach the audience that you are trying to reach. There are mechanisms that they are paying attention to online. You even mentioned TikTok. There are a lot of people on TikTok but I’m not necessarily sure how many people are going to be booking vacation rentals or even doing real estate investing. It’s the demographic of who is booking. When they are clicking on your ads, those things all come into factor.

I put a lot of effort into Facebook for a while, the beginning parts of my business. It’s not for real estate but more for real estate investing for women and bringing women together and the community. What’s interesting is that the level of effort that it took to try to get things moving was so massive. It’s not my expertise, and it became such a chore for me. It was not fun. I was spending too much time there, as you said. We are all busy.

You put in time and energy, and you want to see some results if you are going to continue. I found that with Facebook, I was not getting the results that were helping my ladies. On Instagram, I spent a lot of time on Instagram but I don’t post a lot anymore because, for a huge amount of time, I wasn’t getting any following or whatever. I’m a little bit of a social media fail, which I’m okay with. I decided it’s okay to be a social media fail. It’s interesting to me that you are talking so much about ads, and you don’t have to be active on social media and still, doing the ads is effective.

You are not a failure on this stuff. All of the efforts that you put in, even though you don’t see the value, still have some value to someone out there. When those people find you and go back through your past posts, they are like, “I get a sense of this,” as more of a rapport with you because you do that stuff. That heavy lifting up front is viable.

For ads, you can set this up. Facebook figures it out. It’s probably going to deliver over 3,500 different ads. When you think about the thousands of advertisements that are going out there and people being shown based on their interests and demographic area, sometimes I will target one city or different cities. I rarely target the whole United States.

I will go in and find specific areas where there are certain investors, people looking for certain properties or different things of that nature. I will find where the guests are based on a large blanket area and set the ads. I then see where the clicks are coming from as specific cities. I drill in and only advertise to those cities. I try to make it that way.

I’m learning stuff with the ads. Even with Facebook itself, if you have some posts that have bigger interests or video posts, there are some things you can test out on social media without running them as ads. I like to run them as ads to test them out before I put them on social media. You can do both but it informs me of the other.

One of the best things now is that the videos are portrait-size. Those videos are more converting for Facebook’s own statistical analysis of how people are interacting with content. I usually talk to Facebook’s ad support team a couple of times a week. This summer, they have been promoting Reels. The most effective ads now are the fifteen-second ads that go between Reels. They are fifteen-second ads like a video, portrait size with your phone and film it is saying what you do and where you are at. Even if you are an investor trying to get other investors to pull money for a syndicate, there are different mechanisms that you can do to tell people about what you are doing.

That’s the number one thing about real estate stuff. No matter what real estate thing you are doing, you talk about it. If you talk about it, you don’t know who else might be interested in it, who else might be doing something in that or who else might be interested in investing money with you that you can use their money to do things with.

Short Term Rental Advertising: That’s the number one thing about real estate stuff. No matter what real estate thing you’re doing, you talk about it. You don’t know who else might be interested in it or might be doing something in that, or might be interested in just investing money with you that you can use to do things with.

There are all these different options that are viable ways of making money that you don’t even have to be doing all the hard work. For those people who are doing that syndication thing, there are beautiful opportunities. For the people doing short-term rental stuff, there are amazing opportunities for people to be reminded of taking vacations. You are like, “I provide this luxury experience for people who have vacations.” There are all these people doing amazing things with their own properties. They have galactic game rooms, the Patrick Swayze room down in the Palm Springs area. He’s with STR Nation.

There are all these different companies that are building themselves out by designing the different experiences of what makes a cool vacation. Now that we are all thinking about it, we spent some pandemic times not going anywhere and going to some of these places, and the viability of some of the short-term rentals went up during that pandemic because a lot of hotels closed but now hotels have been doing smear campaigns. They are like anti-Airbnb and other short-term rentals. They are like, “They are spooky, and you have to take out the garbage yourself and all these things.” They will say the worst-case scenarios.

I’ve seen some people who have minimum night stays that have not seen much results from advertising. If your property is not viable for whatever variable the person needs to have like calendar availability, location or the number of beds you have. I can’t guarantee that there will be bookings with any of the ads I do but we can try and find out. Also, the added benefit of not having to run your own social media makes it easier, and you have something running.

In advertising, I spend $10 a day for each of my properties. It’s $300 a month for a property. If I run people’s ads, I usually charge them 1-to-1 based on what that is usually of the ad spent. For the most part, I’ve spent $700 a month on advertising. I’m like, “I got X amount of money in bookings by telling more people about it.” It’s a justifiable cost for me. When I think about the time I save by not having to post a bunch to get people to even pay attention to it, I had all that time to spend with my three-year-old daughter, which is far more important for me to ensure that I’m paying attention to her than worrying about posting on my Instagram and Facebook pages.

You said something that I want to go back to. It’s the vertical video. Are people posting them in their Reels and lives or are they posting them in their groups? How are they doing that?

When they post them live, it goes onto stories. That’s a viable solution for those. When they post them, even as a story on Facebook or Instagram, it does different things. You can take the same video and post it to Facebook Stories, Instagram Stories, TikTok, and YouTube. There are all these different places you can put that same video. That same video could act as a trend rolling. I like YouTube for a lot of this stuff as well.

I don’t know the viability of what people are booking for on YouTube but if you are looking for other real estate people or doing investing, there is a lot of information on YouTube. They are making YouTube Shorts, which are essentially the same thing as the Stories on Facebook or Instagram. Snapchat is where that all originated from but that’s not a viable ecosystem for this. This is good for video games.

TikTok is where everyone is now. Even if, as investors, they are like, “I’m going to try that out.” TikTok has an advertising opportunity. You create an ad account, pay them per view, and you have to submit a whole video. It’s usually a pretty simple process but I have been doing ads for so long online. It’s not easy for a lot of people. Even setting up Facebook ads takes some effort to get some things going because it is a tricky regulated system. Sometimes you have to submit your business information to be verified. That way, you can advertise. Facebook is getting touchy about things, especially if it’s around any political season about ad accounts in general and what you are advertising. It’s crucial.

Is a Story the same as a Reel?

No, but it goes in the same spot. A Reel is a minute or longer video that lives in the Stories environment. Story environments like Facebook Stories and even Instagram separated out Reels into their own section now. It’s still being put into the regular post areas. Everything with these platforms changes. It always adapts to new things. If someone has a cool new product idea, they are like, “Let’s do that everywhere.”

There was a whole Clubhouse thing that came out while we were all at home during the pandemic. Everyone is talking and having voice chats. All of the platforms started having that thing as well. The hot thing now is Reels. If it’s a minute-long version of a video that’s shot in that 9X16 format, that is all that you need to do. If you are not doing those Reels, you can post a little bit.

If you don’t want to post those Reels and have it done through ads, you make the ad that’s a 9X16 video and then submit it up to be included as a Reel, and then all of those will show up. This leaves you not having to worry about doing it and not doing a lot of them. You can have one doing most of the work for you. It takes a lot of that stress of having to create a lot of content.

My partner, Patricia, was getting stressed. She’s like, “I have to make content and all this stuff.” I was like, “It’s okay. Make 1 or 2 that you like, maybe even 5.” I’m a big fan of testing. I like to spaghetti test everything. If I’m going to throw a bunch of stuff at a wall, then I’m going to see, “The 2 or 3 things worked well, and I’m going to keep doing those things.”

If you iterate on the process and make it even better each time, I can’t guarantee that it will always be the same thing that works well. After people work with me, I’ve got at least a good idea that I can flip a switch on, and then all of a sudden, they have ads running and a bunch of traffic going to their listing. If the listing has things on it that make people want to book it, then great but if they have anything on it barely, they have low information, low images, and bad images, we can find out pretty quickly if that’s a viable listing.

I’ve worked with a couple of guys over the course of running ads. They determined that it was the property they needed to sell. They were able to find out quickly instead of having months and months of mortgage costs and ultimately draining some of the reserves. They can find out, “This is not a viable product,” or maybe they need to do a different type of investing. Maybe it’s long-term or midterm.

I love the midterm investing stuff, especially because of the traveling nurse mentality. There are many resources that those people have that we, as investors, provide. I know several investors that only invest within 500 feet to 1,000 feet away from hospital access. They have patients as well as nurses who do traveling nurse stuff and stay for more than 30 to whatever timeframe. It’s usually pretty decent money for that thing. It’s not some of the short-term rental money but you can get three times the actual cost of the mortgage and rent.

As an investor, you must figure out, “Which one of these areas you want to do it in.” I’m still a big fan of long-term rentals. We have 4 doors in Iowa, and they are 2 duplexes. Patricia went out to Iowa to close on one of the properties. I had a buddy who moved out there. She’s like, “You got to invest in Dubuque, Iowa.” We are like, “Dubuque, Iowa. That’s weird.”

We have two of these like little duplexes that rent $1,500 a month without having to do much. That’s just cashflow. When we started our journey, we had $400 a month cashflow. We are like, “This is tricky.” We are able to get a second job’s income on a monthly basis coming through moving some of that money to long-term rental. That ecosystem is a little bit different, and I don’t do advertising too much for that. We only do ads when we are placing people in there, which is 9 to 12 months at the time. It’s not too crazy.

It could go on forever. We didn’t get to do our three rapid-fire questions or anything. I always have to make that judgment call on myself about, “Do we move this along or do we go with the flow?” In your case, what I’m finding is there’s so much knowledge in your head, and you speak in this stream of consciousness, so we get all these jewels that came out. Those were off-topic but amazing. Thank you for that. Ladies, I hope that that was okay with you. Every time I would like to say, “Let’s get to this next question,” then he would say something, and I was like, “What?” and I would lean in. I hope you ladies had that same experience.

Before we sign off, we are going to talk about Pinterest. Mike has had a lot of experience as he’s talked with Facebook, YouTube, and Instagram but he started working on Pinterest. I wanted him to share with you that experience because we’ve never had anybody talk about that on this show. We are going to be doing that in EXTRA. Stay tuned for that. Mike, could you tell the ladies how they can reach you?

You can reach me at STRAdvertising.com. I’m pretty active on Facebook. I have a Facebook group, Short Term Rental Marketing Advice (Powered by BTA) Better Than Awesome is my main umbrella company. I’m happy to provide help. I have a lot of free resources. In fact, I normally charge for this but I’m going to give your audience a copy of my eBook on how to excel in short-term rental advertising. It’s a quick and dirty little walkthrough on how to do this with my processes, how to iterate on things, and a lot of my methodology. I talk about my own experience of getting into real estate stuff but it’s very short. It’s 37 pages, and there are lots of pictures.

Essentially, it’s a quick, easy start guide to get you into it. I have a little extra bonus in there. It’s a digital presence quick start guide that tells people, “Once you are over quick and dirty. This is the platforms you should get onto. This is how the ad is set up. This is a demographic you want to look at,” but I will be able to send that to everyone that has an eBook offer. We will make sure we have a link for you guys.

That’s STRAdvertising.com/moneeka. Thank you so much for giving my ladies that book. I know it’s out there, and it’s normally $9.99. It’s so sweet that you are giving it to my ladies. Thank you for that, Mike.

You are incredible, and I love what you are doing here. My mom raised me right. I’m trying to be a good ally. One of the most deserving populaces to be able to have better information and compete at the higher levels, as I said earlier, even the big boys club, that nomenclature is totally inappropriate. Let’s make that into something where it’s the big players club where it is something that people don’t have an association of gender with it. It’s very important that, as a cis White man, I use whatever privilege I can to impart some benefit to people who are not in the weird privileged state that I am by societal inheritance.

I don’t do much to earn some of the things that people inherently give me as I walk into the room but what I do have and gained from that I can impart with some pretty solid wisdom that’s actionable and can help make money. I genuinely feel pretty confident. Everyone that I’ve worked with teaches how to do this or even uses the book to do it. They are all very pleased with how short and concise it is, and it’s not a bunch of BS.

Thirty-seven pages are awesome. I wrote a 37-page book also. You have to get good at making your point. It’s hard but it’s good for the reader.

I started making TV commercials as one of my first video jobs. That highly complex thing into a short-distilled conversation piece is what I’ve specialized in.

Thank you so much for all that you’ve offered at this portion of the show. I can’t wait to talk in EXTRA about Pinterest.

Thank you so much for having me again. I appreciate everyone. If you guys have questions, feel free to reach out. My group has a lot of great people, and I have been helping with as well. They all have a good insight into their own stuff. I like information sharing, so let’s get everyone in there. I have been banned from other groups on Facebook for sharing free information. There’s a thing out there, and people are not interested in what I’m doing because it’s working and competing with what they have. That’s unfortunate but everyone deserves to compete at some of those higher levels without having too much.

Thank you. Ladies, stay tuned. We’ve got more. We are going to be talking about Pinterest in EXTRA, so if you are subscribed, stay tuned. If you are not but would like to be, go to RealEstateInvestingForWomenEXTRA.com, and you can subscribe there. For those of you that are leaving us now, thank you so much for spending this time with Mike and I. 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 will see you soon.

Important Links

• Mike Denman
• STRAdvertising.com
• Short-Term Rental, Long-Term Wealth
• Booking.com
• OwnerREz
• Short Term Rental Marketing Advice (Powered by BTA)
• STRAdvertising.com/moneeka
• RealEstateInvestingForWomenEXTRA.com

Get Dr. Shaler’s free EBook: “How to Spot a Hijackal”  at https://www.forrelationshiphelp.com/help-handling-hijackals-spot-signup/

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

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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

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.

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