Episode 4: Mike Zlotnik TempoFunding Big Russian Hardmoney Lender in New York

Welcome back to another episode of the Profit Masters Podcast Series. Today Cory welcomes Mike Zlotnik, a private lender for real estate investments, to the show. He joins Cory today to discuss the ups and downs of “marrying money with opportunity.”

Mike offers private loans for real estate projects that allow project managers to buy and repair homes. These improvements ultimately improve communities. Borrowers of this “hard money” have two options to pay back the loan, such as:

1. Sell the house.
2. Rent the house out.

Mike got started in real estate by buying his first apartment in 2000. He joined Tempo in 2008 and began his career in real estate. It hasn’t all been smooth sailing, Mike learned about fraud and the pain of huge money loss. But he has learned how to be more aggressive in his lending and how to choose the right borrower.

Mike stresses the importance of patience in business. Weigh out business decisions in pros and cons and exercise patience in your choices.

Recommended reading this episode:

Retire Rich, with Self Directed IRA by: Nora Peterson 

Rich Dad, Poor Dad by: Robert T. Kiyosaki

Recommended app: Task Killer

The best lesson Mike offers is to help others. Build better relationships in business and find coaches as soon as possible.

If you want to reach Mike Zlotnick send an email to mike@tempfunding.com. 

Check out this episode!

Episode 3: Justin Williams House Flipping HQ Crushing In Califoria

When it comes to house flipping Justin Williams is a master.  Or, as he calls it a house flipping machinist.  Justin joins me to talk about how he got in the house flipping business and shares some of the lessons he’s learned along the way.  Justin is the operator of House Flipping HQ, where he shares his expertise with others interested in learning the art of the flip.

 

After Justin sold 4 houses, he said he realized that he could make a lot more money by flipping houses than by renting them.  This year he expects to use the house flipping program he created to flip around 175 homes.  His breaking point came when he was 120-thousand dollars in debt and sharing a small house with a number of people in Bakersfield.  He started going door to door in the satellite dish business and worked hard.  After just six months he was able to pay off his debts, move out and get into real estate.  

 

That’s not to say there weren't mistakes along the way and Justin talks about those and the lessons he learned.  He also explains how his business buys from wholesale and flips houses.  

His advice about success is leverage.  The leverage of money, people, expertise, technology.  He discusses what systematizing has done for his business.  

 

Justin runs his business around the idea of - think less,  do more.  He suggests the best way to approach it is to have the education you need, take action and surround yourself with like-minded people.         

 

A few of the other questions answered by Justin include:

• Favorite books

• Mobile apps in use - he is big on using digital calendars

• His morning routine

• When to hire a mentor or coach - he believes in doing it quickly if you want to advance to the next level

• Why he does what he does

 

Check out Justin’s website at House Flipping HQ.com.  You’ll find all kinds of valuable training information, tips and much more to get you on the path to house flipping.

Take a listen to his podcasts at House Flipping HQ Podcast.

And Justin has just started a brand new website that you have to check out, 8 Minute Millionaire.  

 

Please visit out our website,http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on theReal Estate Investing Profits Facebook site too!

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Episode 2: Eddie Speed - Note Buying Wizard from Texas

Today on Real Estate Investing Profits, Profit Masters Podcast, my guest is Eddie Speed.  Eddie is the founder of Note School. Since 1980, Eddie has been buying notes.  His Note School is a highly recognized training company that specializes in the teaching of buying performing and non-performing mortgage notes.  Eddie is also the owner and president of Colonial Funding Group LLC, which acquires broker discounted real estate secured notes.  Eddie is a leader and innovator in the note business.  As Eddie puts it, he’s a note guy. He has owned several thousand properties.  He teaches people to buy notes, he buys notes in bulk and resells them in all increments.

 

Eddie explains that he buys existing discounted seller financed notes and defaulted notes that are being held by banks.  With the defaulted notes, he will then attempt to modify and get the customer to pay again, and if that isn’t possible he will try to get them to deed it to him or he  has the right to foreclose.  With over 40 thousand seller financed notes purchased by Eddie’s company he feels it’s an incredible opportunity.  

 

Here’s a few of the questions I pose to Eddie:

• Biggest influence - his father-in-law and he explains why

• Any big mistake made - he has been defrauded

• Advice in running a successful business - don’t give up and don’t get so hung up on price you don’t understand how to be a deal architect

• If you started all over again what would you have done differently - Eddie explains why he would have been part of a mastermind group early on

• Greatest lesson learned - trust but verify

• Why do you do what you do - Eddie has a passion for it

 

Profit Master Investment Strategy:

Eddie says in two-thirds of the United States real estate is too cheap for what it rents for in the working class price band.  He will find houses below a hundred grand that aren’t getting conventionally financed so the owner has to pay cash.  He then will owner finance the property by selling it to the owner for half and will then use it as a rental property for 5 years.  While there is a time that the owner doesn’t live in the property, Eddie has sold it to them for half the price and the renter has paid the other half.  Eddie says it’s a wealth builder and a win-win situation for him and the owner.

 

To find out about the locations of Eddie’s Note School 3 day training classes, check out http://noteschool.com/live-classes/.

 

Free training and additional information is available on his Note School website.

 

Please check out our website,http://realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.  

Join us on theReal Estate Investing Profits Facebook site too!   

Check out this episode!

Episode 1: Jason Hartman Creating Wealth in California

On this inaugural episode of the Real Estate Investing Profits, Profit Masters Podcast, my guest is Jason Hartman.  Jason has been involved in several thousand real estate transactions and has owned income properties in 11 states and 17 cities. His hard work earned him a number of prestigious industry awards and he became a young multi-millionaire. In addition to running his successful real estate business, Jason is also a podcaster.

Jason believes in the buy and hold strategy involving properties and it really is his speciality.  One of his commandments of successful investing is:

Thou Shall Maintain Control - when you relinquish direct control of your money you leave

yourself susceptible to the fact that you may be investing with a crook, investing with an

idiot, investing with someone who will take a management fee for managing the deal.

Jason also discusses his term: inflation-induced debt destruction and gives us a history lesson of the term in action.

He offers three pieces of advice to run a successful business and explains these in detail:

• Develop a brand
• Develop systems
• Develop a unique business model

I asked Jason some questions, like,  if you had to start over what would you change?  Jason would have purchased more property.  His favorite quote he tells us is a zen saying.  Jason lists some of his top books that had an impact on his life in one way or another.  He fills us in on his favorite app, his morning routine, his single greatest lesson learned, the things he is most grateful for, whether to hire a mentor or coach and why he does the things he does.

Jason has some interesting bits of wisdom to share throughout this interview.  He leaves us with the thought that it’s amazing how quickly investments will pay off and wishes everybody happy investing!

You can learn more about Jason on his website, jasonhartman.com.  He also has an extensive podcast site which you can find at hartmanmedia.com.  You can also listen to his podcasts on  iTunes or Stitcher.

Please check out our website, realestateinvestingprofits.com for the “Down and Dirty” Ultimate Real Estate Investing Quick Start Guide download.

Join us on the Real Estate Investing Profits Facebook site too!

Check out this episode!