Welcome back, everyone! We’re thrilled to recap the recent propelio event and the exciting week we had. Whether you’re a first-timer or a seasoned attendee, your presence and feedback help us shape a stronger community. So, let’s dive right in.
A Huge Thank You to All Attendees
Firstly, thanks to everyone who showed up at the propelio event. Your enthusiasm makes our gatherings fantastic. If this was your first event, jump on Facebook or YouTube and share your thoughts. We’re all ears. And if you’re a veteran attendee, let us know too! We’re building a community where everyone feels at home.
Next Event & Rewind Show Introduction
Missed the fun? No worries! Our next event is on July 9th. Mark your calendars because we’re going quarterly now. Also, welcome to “The Rewind,” where we recap all of this week’s golden nuggets and shows. It’s your one-stop-shop to catch up on all things propelio.
Announcements from the Studio
Before we dive into this week’s content, let’s go through some cool announcements:
- Brittany Washington has been busy in the studio, creating five new videos about title questions. They’re available on propelio Academy, so check them out.
- Troy Fullwood invested seven hours in the studio to share his expertise on note investing and raising capital. His detailed breakdown is also in the Academy.
- Think Multifamily has exciting new videos coming up this week. Don’t miss out on the valuable education available online.
Meet the Team
Let’s take a moment to introduce ourselves:
- Bettina Hernandez from San Antonio. She is always on the lookout for deals, partners, and private money. Connect with her on Facebook and Instagram.
- Tyler works with propelio. If you need assistance with deals, email him at [email protected].
- Katie is a real estate agent who works exclusively with investors. She helps find deals, lists properties, and provides design work.
Mondays with Daniel: Helping Struggling Wholesalers
Daniel kicked off the week with actionable advice for struggling real estate wholesalers. Here are the key takeaways:
- Three Steps for Wholesalers:
- Cold calling FSBOs (For Sale By Owners)
- Estimating rehab costs
- Leveling up your business
- Rehab Budget Estimates: Daniel breaks down the costs for light to extensive rehabs, covering everything from windows to foundations.
- Moving from Intermediate to Advanced: Network constantly, understand transaction volume, and focus on adding substantial value to each deal instead of quantity.
Quest Stocks: Home Run IRA Deals
Quest Stocks showcased incredible IRA deal case studies. Here’s what you need to know:
- Case Studies: Transforming junk properties into tax-free passive income.
- Roth vs. Traditional IRA: For real estate investors, Roth IRAs are generally superior as profits aren’t taxed upon withdrawal.
- Growing Your IRA: Focus on large profits through strategic investments rather than limiting contributions.
Casey and Ryan Show: Raising Institutional Capital with Troy Fullwood
Raising institutional capital can seem daunting, but Troy Fullwood simplifies it.
- Private vs. Institutional Capital: Understand the key differences and benefits.
- Building Relationships: It’s 90% about relationships, 10% about the business plan. FamilyOffice.com is a valuable resource.
- Business Plan and Executive Summary: Craft a detailed business plan and a concise executive summary to attract serious investors.
Real Estate Hour: Common Landlord Mistakes
Daryl and Steven tackled common profit-killing mistakes landlords make:
- Buying Right: Choose the right property for rental purposes, not based on personal preferences.
- Marketing: Don’t panic if a property isn’t renting immediately; review your strategy and stay realistic.
- Service Animals: Distinguish between service and therapy animals, understand your legal obligations, and know the seven protected classes to avoid discrimination.
Avoiding Note Servicing Nightmares with Grant Wise
Handling note servicing can be complex. Here’s how to avoid nightmares:
- Use a Third-Party Servicer: Rather than DIY, trust professionals like Moat Note Servicing for efficient handling.
- Liabilities and Compliance: Understand your legal liabilities, including proper tax and insurance payments.
- Efficient Management: Leverage technology and professional services to streamline operations.
Commercial Cash Flow: Triple Net Leases and Dollar Stores
Kenny shared insights on reducing operational risks with commercial properties:
- Triple Net Leases: Invest in properties where tenants handle most expenses.
- Dollar Stores in Small Towns: These have less competition and can offer higher returns due to consistent occupancy.
- Amazon and Walmart Effect: Understand how these giants impact small-town retail and capitalize on it.
Success Mindset with Cory Boatright
Elizabeth and Debbie hosted Cory Boatright, who shared his journey and strategies:
- Mindset Shift: Move from “I wish” to “How can I?” to achieve your goals.
- Using OPM (Other People’s Money): Leverage other people’s money for investments.
- Cost Segregation: Use this study to maximize tax benefits through depreciation.
Elizabeth and Nicole covered social media strategies to elevate your brand:
- Consistency is Key: Post three to four times a day on platforms like Facebook and Instagram.
- Message Bots: Automate lead nurturing and follow-ups to save time and increase efficiency.
- Building Your Brand: Use unique, engaging content to stand out and attract followers.
Donovan Ruffin: Leadership 101
Donovan shared critical components of effective leadership:
- Selflessness and Respect: Good leaders focus on helping others grow.
- Inspiring and Training: Develop efficient systems and provide continuous training.
- Patience and Growth: Like a seed, leadership requires nurturing and patience for fruitful outcomes.
Airbnb Strategies with REI Dudes
The REI Dudes explored the lucrative world of Airbnb:
- Levels of Airbnb: Understand the different levels and what each entails.
- Professional Photos and Cleanliness: These are crucial for attracting guests and maintaining high occupancy.
- Superhost Status: Aim for this to increase bookings and earn trust.
Design in Real Estate Investing with Painting Gains
Painting Gains explored the impact of design in real estate investing:
- Avoid Over-Rehabbing: Know your market to avoid unnecessary expenses.
- Staging: Effective staging can make a big difference in how quickly a property sells.
- Hiring a Designer: Sometimes, professional help can save time and boost returns.
Wrap-Up
What a week! From leadership insights and social media strategies to practical advice on note servicing and Airbnb investments, we’ve covered a lot of ground. A big shoutout to all our speakers and attendees for making the Propelio event a success. Don’t forget to share your photos, tag yourselves, and keep the conversation going. For detailed notes and further resources, head to propelio.com/rewind. Until next time, keep learning and growing!
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