Alex recently hired someone off of Fiverr to help aggregate his data so that he could better detect patterns in his business. After a three-year analysis of his business, he discovered some very interesting things and has some possible solutions for it. On the show. Alex encourages you to do this exercise as well to see if you can optimize and improve the way you do business!
Key Takeaways:
- Alex loves helping his clients succeed in their real estate businesses! He takes on a client or two per quarter.
- Alex did some number crunching in 2017 and 2018 to see if he can discover any patterns.
- By the way, you should always track how much revenue you’ve generated every single month.
- The data is only as good as your being able to read it.
- He noticed that the team had some very, very good months, and some not so great months.
- Ideally, you want to track how much revenue was generated during a three-year period.
Mentioned in This Episode:
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Tony Robbins Date with Destiny: Tonyrobbins.com/events/date-with-destiny/
Let's Connect on Instagram: @alexpardo25
Tweetables:
“Don’t accept slow months, but do plan for it and have a contingency plan in place.”
“One of the things you can do is budget as if it's a 10-month year instead of a 12-month year.”
“Make informed decisions that are going to help you so that you’re not constantly riding the revenue roller coaster.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
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Ken Holmes has seen (and done!) every type of deal you can possibly imagine! Ken started his real estate career in 1987 and has learned a thing or two during that time. On the show, Ken shares his wisdom of what he wished he’d known sooner and shares his financial freedom formula on how you can replace your 9-5 money with real cash flow that will keep and sustain the lifestyle you’ve always wanted.
Key Takeaways:
- Ken got his start as a real estate appraiser in 1987 and flipped his first house in 1997.
- Ken had this goal to make $500,000 a year, but he never put much thought into ‘why.’
- Ken shares his formula for financial freedom. It comes down to asset x rate of return - taxes = lifestyle.
- If you make 8% on your money and you’re paying taxes, you need roughly $2m in assets to make $10,000 a month.
- However, if you can make 15% on your money and pay no taxes (through a self-directed IRA), you would only need to have $800k in assets to make $10,000 a month.
- Your goal shouldn’t be to make your first million, it should be to increase your cash flow.
- Before setting a net worth or cash flow goal, define the kind of lifestyle you want!
- FYI - The desired lifestyle you want is (likely) a lot cheaper than you think it is.
- Ken shares a creative deal he did with a church.
- Get creative with your deal structures and you can easily get that 15% return on your money.
- Ken stresses the importance of understanding what a self-directed IRA can do for you and your money.
- The biggest expense you’ll probably have in your lifetime is taxes.
- Alex shares Ken’s steps to financial freedom.
- What piece of advice would Ken give his younger self? Stay debt free!
Mentioned in This Episode:
Ken on Facebook
Episode 290: “Edwin Kelly on Leveraging Self-Directed Accounts to Build Wealth and Grow Your Portfolio Tax-Free”
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Let's Connect on Instagram: @alexpardo25
Tweetables:
“I just don’t go the debt route. When you talk about financial freedom, you sum it up by making more money than you need and investing that excess in things that produce cash flow. That’s it.”
“What would you do if somebody dropped $10m in your bank account? What would your lifestyle cost? It’s often way less than what you might think.”
“When you get a good deal. Stop for a second and think. What else could I do with it?”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
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Alex is feeling good today! Everything in life that we come in contact with, that we’re faced with, we have a choice to see it positively or see it negatively. If you’re waking up feeling sluggish or just not into it, what perspective can you use to kick yourself out of it? Whatever it is, it will always first start with your mind.
Key Takeaways:
- How can you bottle up your good feelings so you can tap into them whenever you need it?
- We all have days where we wake up and we’re feeling sluggish.
- Alex hopes you’ve got some feel-good vibes into you today!
- Business is not a one-man or one-woman sport. You need the support and help of those around you.
- When things hit the fan, how are you going to turn yourself around?
- We’ve all woken up feeling amazing and we’ve all woken up feeling ‘meh.’ In those meh moments, what are you going to do to snap yourself out of it?
- Everything starts with your mind.
Mentioned in This Episode:
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Tony Robbins Date with Destiny: Tonyrobbins.com/events/date-with-destiny/
Let's Connect on Instagram: @alexpardo25
Tweetables:
“There are days where we wake up and we’re ready to pound the streets and make things happen. You have a choice.”
“I’m excited. I want to connect with you. I want to help. I want to make an impact.”
“Life happens for you, not to you.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Bob LaChance first got involved in real estate in 2004. Fast forward to today; Bob is the owner of Reva Global, where he trains highly qualified VAs to help real estate investors with their business. Real estate investors really struggle with VA turnover and so Bob is here to help you get a bit of clarity on how to effectively use and train your VA so that you can stop the headaches!
Key Takeaways:
- Do you struggle with a lot of VA turnover?
- How did Bob first get started in real estate?
- Bob was getting pressured from his family to go back to school after he retired.
- Instead, he jumped into real estate and got his feet wet. He was hungry for it and took every opportunity he could to learn the business.
- Bob knocked on doors for one year straight from 10 a.m. to 3 p.m. Monday through Friday.
- It was in 2013 when Bob used his very first VA.
- How do you effectively train and use a VA?
- What tasks can a VA do for your business?
- What would Bob recommend not giving to a VA?
- VAs can even do follow up calls and run comps.
- Bob trains his VAs to become familiar with the real estate industry so that you don’t have to go through trial and error to find the right one.
- The short cuts end up becoming long cuts in the end and cost you more money!
- Creating SOPs for your company so that your VA can jump right in and go.
Mentioned in This Episode:
Connect with Bob & his team: Rrevaglobal.com & email him at Bob@revaglobal.com
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Let's Connect on Instagram: @alexpardo25
Tweetables:
“When you get something for free, you don’t take the most advantage of it.”
“When you hire someone and have them go through a DiSC profile, if they’re not a high D or not a dominant personality, they’re going to fail on the phone.”
“Typically, it takes 5-7 touches to get a deal, if not more.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
There's a world of difference between someone with a positive mindset and a negative mindset. Alex shares a mindset example of something he recently witnessed at the gym. Our thoughts play a big, big role in our lives and it’s something that you shouldn’t take for granted.
Key Takeaways:
- Alex recently discovered what his gifts are, and that’s to help others.
- Alex goes to Orangetheory Fitness and works out with a personal trainer twice a week.
- When we’re faced with adversity, our minds tend to default to the negative.
- Everything you see around you began with a thought, it began with an idea, and someone followed through on that idea.
- When you go through adversity, what are some of the positives you get out of it?
- Don’t feel passionate about waking up on Monday mornings? Hit the pause button.
Mentioned in This Episode:
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Tweetables:
“I’m on this quest to just give you the very best I can.”
“We tend to default about what’s difficult about the situation vs. what we’re becoming in the process.”
“Our thoughts govern our whole lives.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Edwin Kelly is the owner of Specialized IRA Services. He helps investors leverage their self-directed tax-advantaged accounts so that they can successfully grow their retirement fund, family legacy, and business. In this week’s episode, Edwin explains how you can build wealth in a tax-free environment and how you can get smarter about your retirement even when it’s ‘too late.’
Key Takeaways:
- Edwin is an expert when it comes to leveraging self-directed IRAs.
- Who is Edwin and how did he get started in this field?
- What are self-directed accounts?
- Edwin explains the type of tax protection and asset protection you can have through a self-directed account.
- What are the different types of self-directed accounts you can choose from?
- Who would not benefit from something like this?
- How can you get started?
- Edwin shares a case study of how a typical transaction would play out.
- How can you fund your child’s education with a self-directed account?
- Feel like you’ve missed the boat when it comes to saving for your retirement?
- You can easily start your self-directed account now.
- When doing deals in a self-directed account, how do you pay your team after a wholesale transaction has been made?
- What advice would Edwin give to his younger self?
Mentioned in This Episode:
Connect with Edwin & his team: Specializediraservices.com
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in Punta Cana, Dominican Republic!
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Tweetables:
“The two high-level benefits of a self-directed account are tax protection and asset protection.”
“It is not uncommon for somebody to build their retirement in 7-10 years and be out.”
“The idea is to get started if you don’t already have a self-directed account.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Alex has recently scheduled time in his calendar to just think and he’s gotten so much clarity from just that single act alone. Not only should you be meditating regularly, but you should also take time to just write down your thoughts and goals that you have for yourself. You build a lot of self-confidence by honoring the big and small commitments that you make to yourself!
Key Takeaways:
- Alex has a lot going on in his mind right now.
- Alex spent about an hour writing down some of his thoughts and he split it up in three categories: Family, Personal, and Business.
- Travel has played a big part of Alex and his family’s life, but they’ve been intentional and conscious about this.
- What does Alex’s calendar look like?
- Alex now schedules ‘think time’ into his calendar so he has time to just think.
- Put important events on your calendar and honor those commitments.
Mentioned in This Episode:
Feel free to connect with Alex about doing a JV! Email him at alex@flipempire.com
Click Here to apply for our next Holiday Mastermind in (Exotic Location TBD).
If you are interested in joining our team, you can Apply Here
Do you have an existing business? Already closing deals, but feel there is a better way?
Connect with Alex here about working with him 1-on-1
Tweetables:
“The hardest part is scheduling the time to do it.”
“Schedule what’s important to you, because if you don’t put it on your calendar, then it’s not going to happen.”
“That’s how you build self-confidence, by keeping the commitments that you make to yourself.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!
Jeff and Belinda Henry bring a unique perspective to the ‘WholeKey’ industry. They are closely dialed in with international and out-of-state buyers looking to invest in Tampa properties and will be sharing with you how their business model works. Jeff and Belinda are a power couple that works together and on this week’s show, they share some of their struggles on how they balance work and family life.
Key Takeaways:
- What does Jeff’s and Belinda’s business look like today?
- Jeff and Belinda focus on both WholeKey and wholesale investment properties. What is WholeKey?
- Jeff and Belinda provide such a white glove service that literally their buyers don’t have to worry about anything.
- Jeff and Belinda have a 50/50 split when it comes to working with both international and out-of-state buyers.
- How do Jeff and Belinda find these buyers?
- Jeff makes sure he takes before and after photos of the rehabs he does so future investors know the type of quality their company provides.
- How do Jeff and Belinda thrive as business partners and as a husband and wife team?
- How do Jeff and Belinda take care of their three kids while running a business?
- What’s Jeff and Belinda’s process for doing deals over the phone?
- What’s one piece of advice Jeff and Belinda would like to give their younger selves?
Mentioned in This Episode:
Website: SellQikNow.com
Connect with them on Social:
Facebook: Facebook.com/2henrysrealestate
Instagram: Instagram.com/itsjeffhenry
Tweetables:
“If you’re looking at sellers with dollar signs, you might get lucky, but it’s not a recipe for long term success.”
“You have to be best friends. You have to know how to communicate. If you can’t do that, it’s going to be very difficult to work with your significant other.”
“Find that person you know is doing the right thing and go for them for mentorship.”
Ask Alex A Question:
Have a question you want featured on an upcoming Flip Empire Show?
Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!
Did you get your FREE Online Course?
Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.
Subscribe To The Flip Empire Show, and Leave a Rating & Review!