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.
Youman Kouta is an investor-agent based out of Sugarland, Texas, a community just outside of Houston that is a great area to invest. Five years ago, she and her husband moved to the United States from Lebanon after visiting for work, and they decided to start putting their savings into real estate. Now, Youman has both real estate investments and an investment business because she can use one to leverage the other and keep more of what she makes. As she builds her portfolio, she can use those funds to build her business. And since she has a business, she can borrow against it and use the money to invest in more real estate.
The Booming Houston Market
In the Houston metroplex, the average home price is only $200,000 and the market is booming, so fix-and-flip opportunities are plentiful. On top of that, 57% of residents in the Houston area are renting, which means there is plenty of business for professionals who are looking to invest in rental properties as well. The beautiful thing is, you can do both. And by choosing to work with the right investor-agent, new investors can find opportunities that best align with their goals because investor-agents are trained to thrive in these scenarios.
Niche Down and Find the Right Tenants
Youman and her husband started with a new construction, and their second investment was a resale property. But with the thriving rental/flip market, Youman and her husband are planning to invest in multi-unit buildings in the future. In the right areas close to downtown, duplexes, triplexes, and fourplexes will rent or flip extremely fast. So, Youman recommends leveraging your personal strengths to find tenants that are a good fit. She is dominating the middle eastern rental market because of her cultural ties and ability to communicate with prospective tenants who are staying for multiple years on-average. To learn more about how Youman built her real estate business in the Houston market, listen to the latest episode of Real Estate Investing for Professional Men and Women.
Paul Ritter is an entrepreneur in the truest sense of the word. He is a pioneer in the credit repair industry and entered the world of internet transactions before there was ever a guide or a rulebook. Paul provides real estate investors with the tools they need to excel in their careers, and credit screening is just one of them. Paul helps match investors with ideal tenant-buyers by verifying income and producing an affordability report, credit report, credit analysis, criminal background check, and a Megan’s law report. If it turns out the applicant needs credit repair, Paul’s credit enhancement company can provide that service as well, but all of the costs are at the expense of the tenant-buyer.
Having tenant-buyers pay for the application and submit to a broad report eliminates many of the tire kickers upfront and brings us closer to finding the right fit for our property. Paul helps investors essentially outsource their buying process to a company that is industry-specific. This is extremely important because quality tenant-buyers are the result of a quality application process. There is a lot of value in having a third party like Paul vouch for you and bolster your credibility. When a credit report company does this, it has an even greater impact on the seller’s credibility. As investors, we don’t have a ton of free time to explain the fine print to tenant-buyers, but credit professionals like Paul live in this space, so use it to your advantage.
The debt-income analysis is another form in Paul’s toolbox that is extremely valuable to real estate investors. It enables Paul to play the ‘what-if?’ game to see what programs open up for potential tenant-buyers if their credit score were to increase. Having a foolproof application process like this is key to executing a smooth transaction. So, to learn more about Paul Ritter’s application process, listen to the latest episode of Real Estate Investing for Professional Men and Women. Make sure to check out the YouTube video so you can follow along with Paul’s slides.