Chris Arnold is the Co-Founder of COSA Investments, one of the largest wholesale companies in the DFW Metroplex. COSA is operated and managed by a US virtual team which has allowed Chris to run his company while living in Tulum, Mexico. He is also the founder of Arnold Elite Realty which is a cutting-edge boutique brokerage consisting of a team of seasoned agents. His passion for coaching and mentoring entrepreneurs has led to the creation of The Multipliers Mastermind. Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate Investors the Marketing stream that everyone knows about but NO ONE is doing!
The Path to Multiple Streams of Revenue
Chris got his feet wet as an agent first knowing that his true passion was in real estate. He got his license and went to work at a couple different brokerages and it didn’t take him long to realize the importance of building a team. So he built a team and his team successes motivated him to go out on his own to start his own brokerage. With his real estate eye always focused on the investment side he next realized that the time was now to begin flipping, wholesaling, and acquire some vacation rentals in Mexico.
The Virtual Company
Chris is driven by freedom and feels that one of the ultimate measures of freedom is location and not needing to live in the city in which you do business! So he got rid of all brick and mortar…anything known as the traditional office. That freed him to have the ability to move to the Caribbean and he now lives in Tulum full time while successfully running his businesses.
To learn more about Chris and how to connect with him listen to Gary’s recent interview with him on our Massive Passive Cashflow Podcast #84.
Tamera Aragon founded and has run small businesses since her teenage years. At the age of 20, she founded her first multi-million dollar company. Since then she has grown many, many successful businesses both online and off.
She discovered her passion for real estate investing in 2003 and has never looked back. Since that time Tamera Aragon has profited from investing in hundreds of properties to date, establishing her as an expert in the real estate investing field.
Lease Option is an Option
Through her experiences, Tamera has learned that “we’re not invincible”. She makes offers with the idea that she might have to keep the property therefore she always has a “Plan B” in mind. A lease option which is basically a rent to own is one of the strategies that she uses which postpones the sell to a later date while receiving monthly payments from the (tenant-prospective buyer until the sell takes place) and in most cases resulting in a higher selling price. This is a great strategy that she explains in her recent Podcast interview with Gary.
Tamera finds her true passion lies in walking others toward success in the business of any kind. She has coached hundreds of entrepreneurs to success since 2005. In 2014 she received her certification as a Life Coach. She continues to create and offer tools and training designed to support real estate investors as well as all types of entrepreneurs both online and off.
Today, Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many top national business and real estate investing experts.
To learn more about Tamera and how to connect with her listen to Gary’s recent interview with her on our Massive Passive Cashflow Podcast #76.
Dustin Nulf was originally from the small town of Dubois, Pa.. moving to Pittsburgh to attend the University of Pitt. Being one of the first in his family attend college. After completing his 4-year degree he entered the Restaurant industry. Looking at the P&L’s and now knowing what a business owner was capable of earning, it did not take him long to realize that he would that he would be better off financially if he were in business for himself.
From Restaurants to Real Estate
After nearly 16 years in the restaurant industry and restaurant management, Dustin became interested in wealth-building and made the decision to get into Real Estate in 2007 with original intentions to gain a Real Estate license and become a full-time real estate investor. He quickly excelled and became a top-producing agent.
Major Investment Success Leads to Property Management Company
Dustin’s major successes in real estate investment lead to a new and really good problem to have. He needed effective and profitable property management to assist in the management of all the properties he had acquired. After careful consideration and his own admission of being a control freak, he made the decision to form his own property management company…and so evolved The Full House LLC Pittsburgh Property Management Company.
Congrats to Dustin for such major success!
Learn more about Dustin by listening to Gary’s recent interview with him on our Massive Passive Cashflow Podcast # 67.
Buying Rentals for Cash Flow and Equity
Among the three major categories of real estate investing—flipping, buying rentals, and wholesaling—buying and holding rental properties is the only one that allows you to build long-term equity and cash flow. I like to use the phrase, “he who holds the gold, makes the rules,” because it is important to consider what you will see as a result of investing on a cash basis.
This ranges from better property prices and loan rates to better equity and cash flow positions. But, if you are concerned about where this cash is going to come from, rest assured, we will be covering these topics and many others in this week’s episode of Real Estate Investing for Professional Men and Women
Tools of the Trade
Using databases to distill the information about the area you want to buy in is extremely helpful, but it can be much more efficient if you follow a process. First, I suggest going to Melissa Data to get an overview. Melissa Data is a marketing tool developed by the USPS, which allows you to see carrier routes by zip, and a break down of businesses, residences, average property price, and average income. You can use this information to locate areas with a higher concentration of apartments since these are more likely to yield higher rental concentrations than areas with primarily single-family homes.
The County Planning Commission utilizes tax dollars to build infrastructure, and they provide a wide variety of demographic information to the public, including occupation ratios and property classes which can be used strategically in your search. When looking for rentals, the sweet spot ratio is between 1/3-2/3 tenant occupied because increased homeownership drives prices up, but the rates of rent do not increase at the same pace. Additionally, the properties could be a low-end area, where misconstrued cap rates represent both risk and reward and create a false sense of opportunity.
Another resource is the Tax Assessor’s Database, which is published by a party that determines what properties in a given county or municipality should be taxed at. With the sweet spot ratio in mind, you can locate the best specific properties in that area based on tax information, and identify all of the units in an area by highly-specified criteria. You also have the opportunity to communicate with the owners directly, but this is a waste of valuable time unless you know what you’re looking for.
One way to uncover your ideal prospects is by searching for landlords who are evicting tenants. This provides insights into individual properties that are most likely being mismanaged, and those are the ones you want. After that, you ideally come in and manage the property to profit based on what you discovered.
Reap What You Sow
A good opportunity to build on this strategy is to implant yourself in networking events such as property management association dinners, where you can mingle with other management companies, as well as owners who may be looking to retire or sell. Direct contact and relationship building is the name of the game, and it will go much farther than any marketing plan. When you’ve farmed opportunities and done your due diligence, the last thing to look for is what type of units you are investing in.
Before you start to see a passive income, you have to assess the level of preparation necessary. A turnkey property that is in a condition to sell, and to be rented at current market rental rates without any headaches or grueling work. In many cases, you will ideally buy it with units filled, and start receiving a passive income from day 1. A buy-remodel-refinance requires much more work but can be more lucrative. By increasing rent for each unit and increasing the property value physically, you can double-dip and benefit from refinancing as well.