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In this episode of The Daily Real Estate Investor, Josiah Smelser interviews one of his all time favorite people and professors – Ted Zoller. Ted’s CV is packed and diverse, and well worth paying attention to. He is a professor of strategy and entrepreneurship in the University of North Carolina’s MBA program. He is a director of the Entrepreneurship Center at UNC; has been voted Teacher of The Year by the MBA students multiple times; is the founding instructor of Launching the Venture which helps students form and launch their ideas; he is a senior fellow at the Kauffman Foundation, an organization that helps entrepreneurs. Additionally, Ted is a former president of the US Association for Small Business and Entrepreneurship and is a small business owner, himself. It is obvious that he is a gifted person in the area of entrepreneurship, and what he has to share is really valuable.

Josiah met Ted during his MBA classes, where Ted served as his entrepreneurship professor. According to Josiah, Ted simply has a great mind for entrepreneurship in general, and for helping entrepreneurs launch their ventures onto the market. He is currently involved with the Kauffman Foundation, where he is working on developing high-performance ecosystems. The Kauffman Foundation is a wonderful resource for all entrepreneurs, and they recommend that listeners visit the website (https://www.kauffman.org) and connect with them.

Ted also shares valuable advice on entrepreneurs launching their business. He states that they should not be discouraged by anyone considering their idea as bad. Every idea can be refined until it is successful. However, don’t put yourself at extraordinary risk until you have something really sound. The best teacher is the market, not other people. He explains that you can fast forward your experience in the market by testing your concepts before committing a great amount of resources. He also suggests that you socialize your ideas to as many people as possible as a way of improving it. You also never know when you will find a partner, or someone to open a door for you that you didn’t expect.

Building a business is all about the execution and action – not the idea itself. Entrepreneurs really need to be on the edge of tomorrow, building and profiting from the new ways of doing things. It’s best to be aware of the upcoming changes and adjust to that, i.e. by realizing that real estate, working spaces, communication, and other manners of living and working are going to change dramatically over the next few decades. Entrepreneurship is based on freedom. This is what Ted discovered while working on his new book based on the concept he dubs the “entrepreneur genome”. Entrepreneurs give themselves permission and the freedom to go out there and build something great. The path is never about waiting for the government to come to help. The path always has been about people helping themselves, and entrepreneurs are at the forefront of this. One of the most exciting things Ted got to experience is building communities, and getting to see the outcomes of his work. This is what you should be striving for.

Wrapping up the episode, Ted shares his favorite books on entrepreneurship, such as Tribe of Mentors by Tim Ferris and Singularity by Ray Kurzweil. He also shares some final advice for those that work on achieving financial freedom through real estate. Simply put, while you are “young and stupid,” take some chances, experiment, and learn – the experience you will get through failure and success is invaluable. And finally, be the linchpin – the thing that holds everything together.

Please subscribe to the podcast, leave a review, and share with your friends!

 

Links:

Check out dailyrealestateinvestor.com & sign up for the mailing list!

Follow Josiah on Instagram: @dailyrealestateinvestor

Follow Josiah on Twitter: @DailyREInvestor

Subscribe on YouTube: The Daily Real Estate Investor

Purchase Tribe of Mentors by Tim Ferris

Purchase The Singularity is Near by Ray Kurzweil

In this episode of The Daily Real Estate Investor, Josiah Smelser interviews one of his all time favorite people and professors – Ted Zoller. Ted’s CV is packed and diverse, and well worth paying attention to. He is a professor of strategy and entrepreneurship in the University of North Carolina’s MBA program. He is a director of the Entrepreneurship Center at UNC; has been voted Teacher of The Year by the MBA students multiple times; is the founding instructor of Launching the Venture which helps students form and launch their ideas; he is a senior fellow at the Kauffman Foundation, an organization that helps entrepreneurs. Additionally, Ted is a former president of the US Association for Small Business and Entrepreneurship and is a small business owner, himself. It is obvious that he is a gifted person in the area of entrepreneurship, and what he has to share is really valuable.

 

Josiah met Ted during his MBA classes, where Ted served as his entrepreneurship professor. According to Josiah, Ted simply has a great mind for entrepreneurship in general, and for helping entrepreneurs launch their ventures onto the market. He is currently involved with the Kauffman Foundation, where he is working on developing high-performance ecosystems. The Kauffman Foundation is a wonderful resource for all entrepreneurs, and they recommend that listeners visit the website (https://www.kauffman.org) and connect with them.

 

Ted also shares valuable advice on entrepreneurs launching their business. He states that they should not be discouraged by anyone considering their idea as bad. Every idea can be refined until it is successful. However, don’t put yourself at extraordinary risk until you have something really sound. The best teacher is the market, not other people. He explains that you can fast forward your experience in the market by testing your concepts before committing a great amount of resources. He also suggests that you socialize your ideas to as many people as possible as a way of improving it. You also never know when you will find a partner, or someone to open a door for you that you didn’t expect.

 

Building a business is all about the execution and action – not the idea itself. Entrepreneurs really need to be on the edge of tomorrow, building and profiting from the new ways of doing things. It’s best to be aware of the upcoming changes and adjust to that, i.e. by realizing that real estate, working spaces, communication, and other manners of living and working are going to change dramatically over the next few decades. Entrepreneurship is based on freedom. This is what Ted discovered while working on his new book based on the concept he dubs the “entrepreneur genome”. Entrepreneurs give themselves permission and the freedom to go out there and build something great. The path is never about waiting for the government to come to help. The path always has been about people helping themselves, and entrepreneurs are at the forefront of this. One of the most exciting things Ted got to experience is building communities, and getting to see the outcomes of his work. This is what you should be striving for.

 

Wrapping up the episode, Ted shares his favorite books on entrepreneurship, such as Tribe of Mentors by Tim Ferris and Singularity by Ray Kurzweil. He also shares some final advice for those that work on achieving financial freedom through real estate. Simply put, while you are “young and stupid,” take some chances, experiment, and learn – the experience you will get through failure and success is invaluable. And finally, be the linchpin – the thing that holds everything together.

 

Please subscribe to the podcast, leave a review, and share with your friends!

 

 

Links:

Check out dailyrealestateinvestor.com & sign up for the mailing list!

Follow Josiah on Instagram: @dailyrealestateinvestor

Follow Josiah on Twitter: @DailyREInvestor

Subscribe on YouTube: The Daily Real Estate Investor

Purchase Tribe of Mentors by Tim Ferris

Purchase The Singularity is Near by Ray Kurzweil

In this episode of The Daily Real Estate Investor, host Josiah Smelser interviews Mark Rogers of Little Rock, Arkansas about his work flipping real estate and building an impressive investment portfolio. Mark is a lawyer who decided that his approach to finances needed a change and who, after his first successful real estate venture with a foreclosure property, was motivated to dive more fully into real estate investment. Now, less than two years later Mark works his successful real estate business on the side as he continues to practice law, while his wife handles more of the business as her own full-time work. Together, they have an aggressive goal for passive income in the next ten years.

Mark still places a lot of focus on flipping properties. He started his business in 2017 with four flips, and has done an additional nine flips through the course of 2018 so far. A lot of his work to date has been with foreclosure properties, which require a lot of research, money up front, and some level of risk. However, Mark knows what factors to consider before buying a house, and has only lost money (and that only a small amount) on one flip. Overall, he has averaged one hundred days of work and an income of thirty thousand dollars on each of his flips, for an overall profit in the course of his real estate career of just under four hundred thousand dollars. He works with select investors, such as family members, and shares profit with them, turning other profit toward continued investment work.

In addition to flipping houses, Mark is now in the business of buying and holding properties. He and his wife have a 10-year goal to reach thirty thousand dollars a month of passive income. To reach this goal, Mark uses rental money to pay off further rental properties, and his overall process is to purchase, do rehab work, rent, refinance, and repeat. He has started two LLCs for his properties, and instructs Josiah in the value of having both an umbrella policy and an LLC for investments. Mark’s goal also requires him to be very careful to find good deals on properties, and has led him to establish an aim of spending no more than one hundred twenty days “key to key” on any given property. He keeps his rehab needs low, and is willing to pass off more complicated but potentially lucrative projects to other people if it doesn’t make sense for him to keep the projects himself. He has been carefully amassing a team of people such as a contractor, handyman, and flooring crew, and continues to fine-tune the process of his business.

Josiah asks what motivates Mark to do all this work. Mark says that, rather than having one broad motivation, he has several motivating factors and ultimate aims. He has a spiritual goal that involves giving money away, a community goal to accomplish volunteer tasks, and a goal to travel and enjoy time with his wife. Rather than aiming for a traditional retirement, Mark and his wife are aiming to enrich their lives even as they continue to work. Mark also provides Josiah with some random facts about his time as a lifeguard and the most impactful books he’s read, and counsels those who aspire to the same real estate work he does to play the long game, treat people well, develop good habits, and spend time early on developing reasons why they are doing what they are doing.

Please subscribe to this podcast, leave a review, and share with your friends!

 

Links:

Check out Josiah’s website and find his blog: dailyrealestateinvestor.com

Follow Josiah on Instagram: @dailyrealestateinvestor

You can also find Josiah on LinkedIn, Twitter (@DailyREInvestor), and YouTube

 

Find the books Mark Rogers recommended:

Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

The Book on Flipping Houses by J. Scott

The 7 Habits of Highly Effective People by Stephen R. Covey

Man’s Search for Meaning by Viktor E. Frankl

In this episode of The Daily Real Estate Investor, host Josiah Smelser interviews Sharon Duncan, property stager and owner of Designed2Sell by Sharon in Huntsville, AL. Sharon has long had a passion for design, which eventually led her to work in staging. She has years of experience in the business – including the staging of one of Josiah’s properties – and he hopes their conversation will clarify how to sell property for the most money with the least amount of time on the market, how to best position properties to make a positive impression on potential buyers, and common staging-related mistakes that sellers make.

Josiah and Sharon share how beneficial staging can be for both buyer and seller. Josiah’s experience testifies to its value, and Sharon confirms that staging is a worthwhile investment for sellers – especially if done before the listing is made in order to make the best possible first impression on potential buyers. Sharon notes that staging can greatly increase the speed of a sale, and that it also benefits buyers by allowing them to see the potential of a home and to imagine themselves owning the properties they consider buying.

Moreover, Sharon and Josiah discuss best practices of staging. Sharon’s process involves an initial consultation, followed by a proposal for staging arranged (and priced) by room. For a quick sale, Sharon says that owners need to sell their property as a commodity, releasing emotional attachment. She also says that the three keys to a successful staging are decluttering, depersonalizing, and neutralizing. If the seller is working with a limited budget, the living room, kitchen, and master bedroom are most worthy of attention, though Sharon recommends that staging be catered to each individual property and context.

Josiah and Sharon address the impact of cultural trends on the housing market, and more specifically, on the value of staging. In a culture bent on instant gratification, staging allows people to see properties with an HGTV-like quality – houses that are move-in ready and stylish. Staging can increase the perceived value of a home, and even small efforts can make a major difference. Sharon instructs listeners in how to find a stager, and she offers her own staging services to listeners, even those outside her market. Finally, she answers a few questions (including giving some recommendations to anyone visiting western North Carolina!) that help listeners get to know her more.

Please subscribe to this podcast, leave a review, and share with your friends!

 

Links:

Follow Josiah on Instagram: @dailyrealestateinvestor

You can also find Josiah on LinkedIn, Twitter (@DailyREInvestor), and YouTube

Find out more: dailyrealestateinvestor.com

Contact Sharon Duncan: (256) 580-6353 or designed2sellbysharon@gmail.com

You can find Sharon on Houzz, Facebook, and Pinterest.

Explore Sharon’s restaurant recommendations: Sunny Point Café and Biscuit Head

In this episode of The Daily Real Estate Investor, host Josiah Smelser interviews Chris Grenzig, a young New Yorker who has made a very impressive and successful transition into real estate business in recent years. After his years of college and some time coaching soccer, Chris worked in stock brokerage as a cold caller. He decided to leave his position, though, because some ethical aspects of his job bothered him. He turned to real estate, and through a process of learning and trial and error, not only has he come into financial success, but also to investments that he believes honor would-be investors and their money in ways his former company did not.

Chris explains his transition to real estate in detail. He began by trying to flip houses, but the venture was unsuccessful and he turned his attention to multi-family properties. The key to this turn was Chris’s friend John Cohen; Chris agreed to invest with John in a multi-family venture, and in exchange asked John for information on how to become involved in similar work himself. This exchange progressed into something along the lines of a partnership, and provided Chris with the know-how to not only work in multi-family real estate independently, but to now work under John for Toro Real Estate Partners, as well.

Josiah and Chris talk through Chris’s work in multi-family real estate, and Chris provides insight into the methods behind his success. He discusses properties in Covington, Kentucky, and Jacksonville, Florida, and through his stories about these properties, Josiah and Chris instruct listeners in the need to be flexible in the face of unforeseen challenges, the way to navigate local and more distant markets, and how to raise investment capital. Giving direct advice to listeners wanting to enter the business of multi-family real estate, Chris recommends several ways to get ahead in the industry.

In his final “random” interview time with Josiah, Chris says that he is a major proponent of podcasts, and commends them. Earlier, he had recommended The Real Estate CPA podcast, which along with other podcasts including Josiah’s, offers to help potential investors learn the ropes of real estate. Chris also discloses some of his favorite video games and leaves listeners with the final advice to try, fail, and improve, and to find someone to learn from and replicate their work.

Please subscribe to this podcast, leave a review, and share with your friends!

Links:
Connect with Chris Grenzig on Instagram: @grenzigcre

Email Chris: chris@tororep.com

Listen to The Real Estate CPA podcast: https://www.therealestatecpa.com/podcasts/

Check out Josiah’s website and his blog: dailyrealestateinvestor.com

Follow Josiah on Instagram: @dailyrealestateinvestor

You can also find Josiah on LinkedIn, Twitter (@DailyREInvestor), and YouTube

In this episode of The Daily Real Estate Investor, host Josiah Smelser has a conversation with friend Adam Copeland. In a change from the usual format of the podcast, Josiah is interviewed by Adam, who is developing his own podcast and wants to feature Josiah in one of its early episodes. Adam is starting his podcast project with 10 conversations with people ranging from old friends to entrepreneurs. Josiah encourages listeners to check out Adam’s podcast, The Adam Copeland Podcast.

Adam starts the interview with questions about Josiah’s podcast. Josiah clarifies that his podcast developed out of his love for podcasts, interest in and knowledge of real estate, and a desire to cast a wide net of interest for his upcoming book. Josiah also loves to be creative and to take on projects that will stretch the boundaries of his comfort zone, and he loves to give to others. His long-term hope is to achieve a greater level of financial freedom that will enable him to find exciting ways to help people.

After discussing Josiah’s podcast work, Adam takes a step back and asks Josiah about his background. Josiah explains the broad strokes of his life from college onward, including his undergraduate years, time spent in Rwanda, seasons of work in appraising and teaching, and the starting of his family. Through this account, Josiah explains how he developed his interest in real estate. He also describes some details of his current life, including ways in which he tries to give back to his community.

Adam asks Josiah about books that have shaped him, television shows that he enjoys, podcasters that inspire him, and dream guests for his own podcast. Josiah shares about what has influenced him and recommends helpful resources like his eighth podcast episode with Brandon Turner and by researching Your Money or Your Life, Meditations, Gary Vaynerchuk, Tim Ferriss, Bigger Pockets podcast, Warren Buffett, and Mr. Money Mustache.

Josiah concludes the episode with questions for Adam. Adam recommends that Josiah’s listeners explore the article “The Case for Reparations,” and he and Josiah speak about one shared regret from their younger years.

Please subscribe to The Daily Real Estate Investor podcast, leave a review, and share with your friends!

 

Links:

Follow Josiah on Instagram: @dailyrealestateinvestor

You can also find Josiah on LinkedIn, Twitter (@DailyREInvestor), and YouTube

Find out more: dailyrealestateinvestor.com

Follow Adam Copeland on Twitter: @ALCopeland

 

Check out these recommended reads:

Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Dominguez

Meditations by Marcus Aurelius

“The Case for Reparations” by Ta-Nehisi Coates, The Atlantic