PassivePockets: The Passive Real Estate Investing Show (PassivePockets, Jim Pfeifer, and Left Field Investors)

This week’s episode features Brian Meyer. Brian has been chasing shiny objects for a bit but has settled into passive investing in syndications as of late. Brian has enjoyed being part of a tribe that has invested in several deals and hopes to get involved with others in the future. He will be focusing more on the space going forward. To see the full show notes and transcript, click here.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Todd Nepola, the founder and president of Current Capital Group, has been in the industrial real estate niche for his entire investing career. In this episode, Todd joins Jim Pfeifer to share his financial journey and discuss how investing in just two niche asset classes in one market have been the key to his success. Tune in now and hear Todd’s story and plenty of golden nuggets of advice!  To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

Josh McCallen is a nationally recognized capital syndicator, hospitality investor, turnaround specialist, conference speaker, innovator, builder & developer with a track record for the development of exceptional resort properties and growing world-class operational teams.  Josh was also a guest on Episode #2 of the Passive Investing from Left Field Podcast. In this episode, Josh talks about forcing equity through resort investing and service that revives the soul! Josh explains his two companies – Accountable Equity which is investor focused and raises money for investing in resorts and Vivamee which is hospitality focused on the guests that stay in the resorts.   Josh mentions that there are three ways to invest with Accountable Equity: an equity position in the resorts, heavy cash flow from Efficient Income Funds (EIF's) which offer a return combined with tax efficiency and notes through a private REIT with a collateralized debt fund.   Josh talks about the difference between Marriott and other name brand hotels and resorts operated by Vivamee.  He explains that business hotels have really struggled through Covid, but the “drive-to” resorts with lifestyle experiences have thrived through the pandemic.     Josh discusses the decision to purchase Airbnb properties nearby to his resort properties and his plans to expand the operation to build additional duplexes or fourplexes to rent to wedding parties.   Josh talks about the structure of the equity investments in the resort properties and that cash flow can be expected by year two, capital will be returned within five years and investors will maintain ownership in the resorts.   Josh discusses the Efficient Income Fund which is optimized to offer full tax depreciation while also providing a cash-on-cash return to the investor.  The EIF allows Josh to buy capital improvements like golf carts and kitchen equipment and rather than leasing the equipment they use the investors’ money to buy these assets and provide a return and depreciation write-offs to investors.   Podcasts recommended by Josh: Cash Flow Ninja Bigger Pockets   Listen to Josh on his podcasts: Wealth Building with Friends Capital Hacking   Efficient Income Fund Webinar    Contact Josh and Join his Community at AccountableEquity.com.   If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.      

Everyone wants to have a comfortable retirement, but the problem is how to get there. Passive investing is one tool you can use to ensure you spend your retirement years doing what you love.  Jim Pfeifer and Left Field Investors talk passive money with Dan Kryzanowski, Advisory Partner at BV Capital. Dan discusses how to make your 401k work for you, investing in IRA, moving into real estate, and the opportunities in it. Join this discussion and learn some great tips to prepare for your retirement. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

This week’s episode features Jeff Geagan. Jeff has been investing passively for about a year and a half. Having started as an accidental landlord in the real estate industry, he has pivoted to the passive side over time. Today, Jeff shares how he found value in Left Field Investors and Tribevest to educate him and spread his risk of investing. He continues to look at new opportunities in individual and group investments. 

Join us on "Passive Investing from Left Field" as we dive into an enlightening conversation with Michael Sarracini, a seasoned real estate investor and former boy band member turned entrepreneur. Discover Michael's unique journey from pop stages to property pages and learn how he leverages the three core investing streams to achieve financial freedom. Don't miss out on his valuable insights into transforming your real estate investments from active hustles to passive income streams!   About Michael Sarracini  Michael Sarracini is an award-winning entrepreneur and real estate investor. Starting over 20 years ago as a university student with nothing but debt and the drive to succeed, he turned a small government loan into a multimillion-dollar real estate empire that allowed him to retire at 25. With his new freedom he then explored other industries including television, ecommerce, real estate development & private education.Today Michael is CEO of Keyspire and Chairman of The Sarracini Group. He focuses on adding value to people through personal development and education as well as adding value to land through strategic partnerships and development.Michael’s team has trained more than 100,000 real estate investors and helped them generate tens of millions of dollars in net worth.As an entrepreneur, he has won multiple business awards for business growth, sales revenue and employee satisfaction, and in 2016 he led the #1 fastest-growing consumer business in the country.Michael supports his business growth through strong leadership, solid business practices and community involvement.Michael believes in, and invests heavily in, his personal growth and personal development.He believes strongly in community involvement and sits on the board of directors and the leadership committee for the Children’s Foundation.Michael lives with his wife and two boys just outside of Toronto, Canada. He loves to spend time with his family swimming, mountain biking, hiking, BBQing and loves hosting big family dinners. He also enjoys scuba diving and playing squash.Michael’s ultimate goal is to help his partners and his students maximize both their profits and their purpose so they can live enriched and fulfilling lives.    Here are some power takeaways from today’s conversation: 01:57 His background  07:25 Boss mindset leading to real estate 10:57 Transitioning from active to passive real estate 18:57 Three investing streams  22:36 Income vs. appreciation  26:57 Finding the right individual path to financial freedom 29:50 Podcast recommendation 31:43 Contact Guest   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Podcast Recommendations:Dr. Huberman Podcast: https://www.hubermanlab.com/podcastPeter Attia :https://peterattiamd.com/ Resources Mentioned: Contact the guest:LinkedInwww.linkedin.com/company/keyspire/Instagramhttps://www.instagram.com/_keyspire_/Facebookhttps://www.facebook.com/keyspire/YouTubehttps://www.youtube.com/channel/UChQL2BsGF0UQO1VPkd5wHig Advertising Partners: Vyzer:https://vyzer.co/ Midloch:https://midloch.com/ Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Tribevest: https://www.tribevest.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Just saving money and putting it in your 401k is not enough anymore. There has to be something else. That's why we have this community. Today, joining us is Clint Harris from Nomad Capital. Clint believes that passive real estate is the key to retirement, as saving alone is no longer sufficient. Clint also stresses the importance of financial independence combined with location and time independence, for a purpose-driven life. The more cash flow you have, the more days off you’re buying, and this hastens retirement or getting out of a W-2 job! About Clint Harris Clint Harris, Investor Relations & Capital Raising at Nomad, has 15 years of experience in medical device sales. He's a business innovator who owns a successful property management company and multifamily real estate portfolio. Clint believes that financial independence, combined with location and time independence, leads to independence of purpose. He joined Nomad to share this vision with investors. Here are some power takeaways from today’s conversation: [09:32] Achieving financial independence through investing in real estate [11:28] The value of asset class conversion [16:34] Increasing value through asset class conversion [19:12] Diversifying investments to reduce risk [24:55] “Buying days off” through syndication deals  [32:39] Tips for vetting sponsors as an LP [35:00] What to look for in sponsors [39:12] Nomad Capital’s aim to double investors' money within 5 years Episode Highlights: [22:52] “Buying Days Off” Through Syndication Deals Syndication allows investors, limited partners, and general partners to put their capital to work while others use their time and expertise. Investing in a deal means buying days off from working for the rest of your life and getting closer to achieving financial freedom. This asset class provides real value beyond just a five-year investment, and our goal is to build up assets that we can hold onto with a select group of investors and eventually reclaim our time. [29:48] Location, Time, and Financial Independence: The Key to a Purpose-Driven Life Achieving financial independence alone is simply not enough. You need all three elements: location independence, time independence, and financial independence. With these combined, you can lead a purpose-driven life and do whatever your heart desires, whether it's charity work, attending church, skiing, building, traveling, or raising your kids. However, if you're only financially independent but stuck in one location, you'll be forced to spend most of your time in front of a screen every day, which isn't the nomadic lifestyle you desire. At Nomad, we value this core belief and aim to keep it as a vital part of our culture, just as you have developed an amazing culture with Left Field Investors. Our goal is to always prioritize this value above everything else. [36:48] Tips for Vetting Sponsors as an LP Clear communication is essential in meeting your investors' needs as a real estate investor. Ideally, you should receive monthly updates that include examples of both positive and negative news and how they were presented. It's important to stay informed at all times. With insider knowledge of the industry, you may also want to know if the company is vertically integrated, handling everything from property sourcing to capital raising in-house. This information can help you make more informed investment decisions. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Email Clint: clint@nomadcapital.us Website: Nomad Capital Podcast Recommendation: BiggerPockets Podcast AJ Osborne's Self Storage Income Podcast

This week’s episode features David Shirkey.  David invests passively alongside helping run a family business and working to pass it on to the third generation of the family.  He’s found conferences and networking helpful with his education in the industry.  He’s going to be focusing more on industrial real estate going forward.

Kenny Wolfe is the President of Wolfe Investments and has been investing in multifamily since 2010. He currently owns over $250M of commercial real estate with 4500 units in Texas, Louisiana, Oklahoma and Ohio. He also owns commercial retail properties in three states and some ground up development as well. In this episode, Kenny talks about alignment of interest between the syndicator and the investor, investing in downtown metro areas and investing for cash flow, appreciation or both. Kenny discusses how he bought into two passive deals to learn the ropes in order to be a syndicator and the benefits of using networking to find sponsors and to get started. Kenny talks about structuring his deals for the long term by aligning interests with his investors by eliminating acquisition and disposition fees and not paying a preferred return.  He also mentions how bringing property management in house has given him better control over managing the assets. Kenny discusses the three different types of assets he investing in: 1. Development focusing on appreciation2. Existing multi-family properties focusing on cash flow and appreciation and 3. Commercial triple net leases focused on cash flow. He also has recognized that because of the pandemic, there are great deals to be had in downtown metro areas and has purchased multi-family properties and conversions in downtown Cleveland, Dallas and Atlanta.  Podcast Kenny recommends: Old Capital Podcast To connect with Kenny, go to Wolfe Investments or visit him on Youtube. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

This week’s episode features a post from the Infielder Forum. The question was asked - How quickly did you dive in? The episode starts with that question and we discuss several replies to the Forum post. Jim Pfeifer also explains how he got his start in syndications and recommends, if you have a stable financial base - at some point, you need to take careful action! Tune in to hear how Jim and others got their start in passive syndication investing!

Tania Mirchandani is the Vice President of Capital Markets at Clear Capital. She worked in wealth management for nearly 15 years at Goldman Sachs. She has been involved in multifamily real estate management, operations and acquisitions for 5 years and she joined Clear Capital at the beginning of this year. In this episode, Tania talks about the importance of trust and confidence in a sponsor, the different information needs that individual investors have and some important deal metrics to analyze when reviewing a deal. Tania talks about the illiquidity of syndication investments and the importance of general partners investing in their own deals. Tania explains the importance of trust and confidence in people you are investing with and how that trust can be transferred through referrals and word of mouth.  She also talks about different investors and their needs for depth of information when they are reviewing deals. She encourages everyone to figure out how they want to pursue an investment opportunity and to get comfortable with whatever level of information they need before investing. Tania mentions some of the metrics that are important to her when analyzing a deal.   Podcasts she recommends: Focus On Facts  Super Soul    To connect with Tania go to www.clearcapllc.com or email her at tania@clearcapllc.com.   If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

For this episode, we are releasing our exclusive MASTERCLASS on building wealth through passive Real Estate. In this 9-part MASTERCLASS, passive investing expert Jim Pfeifer, founder of Left Field Investors, sits down with Tribevest's Julian McClurkin. Jim reveals how to put your money to work through strategies that only recently became available to the average investor. Millions of people are wisely reallocating their recent gains from the stock market (and Crypto!) and diversifying to tangible assets. Real Estate is the perfect asset to protect against market crashes and inflation. It's no wonder this tactic is how the wealthy have played the game for centuries. We will be covering the following chapters in this episode:1.     What is Passive Investing?2.     What is a Syndication?3.     What are the Pros and Cons of Passive Syndications?4.     How to Pick a Sponsor The following chapters will be discussed in next weeks episode:5.     How to Pick an Asset Class6.     How Can You Diversify by Market?7.     How Do We Choose a Deal?8.     What to Expect When Investing in a Syndication9.     How to Invest With a Tribe These topics will be familiar to many of you, but the intent of the masterclass is to give an overview of passive investing that will hopefully help beginners as well as experienced investors. We want to thank Tribevest, and especially Julian McClurkin, for supporting us in the production on the Masterclass.  We would also like to thank the entire LFI team, Chad, Sean, Ryan & Steve, for their help in creating the content - we certainly could not have done it without them! If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Want to make informed investment decisions? Join us as we unpack the secrets behind risk-adjusted returns with Paul Shannon. He talks about real estate investing in today's uncertain market, how he vets sponsors, looks for risk-adjusted returns, and the benefits of both active and passive investing. Paul Shannon is the principal of Red Hawk Real Estate and fund manager of InvestWise Collective, a partnership between Red Hawk Real Estate and Left Field Investors. Since transitioning to real estate investing full-time in 2019, Paul has acquired over 200 residential units by recycling his equity and through joint ventures. A licensed realtor, Paul has experience in acquisitions, raising capital, and property management.  Here are some power takeaways from today’s conversation: [02:00] Why Paul slowed down in investing  [11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns [18:00] How active investing makes you a better passive investor [21:00] Understanding risk-adjusted returns [26:45] About InvestWise Collective [30:50] Tips for vetting sponsors and investors [41:50] Being selective with higher quality deals  Episode Highlights: [11:10] Emerging Trends in Multifamily Financing: Longer Holds, Lower Returns Multifamily operators are shifting towards agency debt or fixed-rate products with stepped-down prepay penalties to avoid costly fees when selling before maturity. This change means longer hold periods, lower leverage, and loan-to-value ratios in the 50s to 60s. Lenders require properties to generate income 1.2 to 1.3 times higher than the debt service, leading to decreased loan proceeds and reduced returns. Despite this, there are still attractive investment opportunities, but investors must consider more than just high IRRs and cash-on-cash returns. [21:00] Understanding Risk-Adjusted Returns: Maximizing Returns While Managing Risk in Investments ‘Risk-adjusted returns’ refer to the amount of return an investment generates relative to the amount of risk involved in producing that return. An investment with a higher risk-adjusted return means it generates more return for the amount of risk taken. Paul explains risk-adjusted returns by comparing potential returns from real estate investments to risk-free alternatives like high-yield savings accounts. The returns from real estate deals involve more risk due to factors like rising interest rates, cap rate compression, and reliance on sponsor pro formas. However, they must offer a high enough return to justify that additional risk compared to the guaranteed return from a savings account. Paul looks at variables like yield on cost, IRR, and cash flow to determine if a deal offers a sufficient risk-adjusted return for his investors. [30:50] Tips for Vetting Sponsors and Investors Paul places the most emphasis on trust, ensuring the sponsor will act as a fiduciary for investors' capital. He examines the sponsor's track record but notes that a longer track record does not necessarily mean better, focusing more on how the sponsor navigated past downturns. Paul analyzes the sponsor's financial spreadsheets in depth to understand their assumptions and whether they are conservative or aggressive. Rather than just looking at headline returns, he focuses on yield on cost, IRR partitioning and cash flows to determine the deal's risk level. Finally, Paul looks at the debt terms the sponsor is using to ensure it matches their business plan and exit strategy to minimize prepayment penalties. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Redhawk Real Estate InvestWise Collective Email: paulshannon@investwisecollective.com    Podcast Recommendation: Old Capital Podcast

Uncertain times can cause fear for investors, but it also presents opportunities for those willing to dive into the niches. In this episode,  Logan Freeman, the Co-Founder of  FTW Investments, joins Jim Pfeifer to discuss how to thrive in the current market: by focusing on asset classes that will thrive in any market. He also dives into mentorship and leveraging the learning curve to help move forward and grow. Plus, Logan shares why he shifted from multi-family to other asset classes. Learn more great insights by tuning in to this conversation! 

Gino Barbaro is one of the founders of Jake & Gino, LLC – a real estate education company.  He is a principal at Rand Partners, a multi-family syndication company and a certified professional coach as well as an author and podcast host. In this episode, Gino talks about the importance of mindset, how to evaluate a sponsor and some of the metrics he uses when evaluating a deal. Gino talks about the importance of educating yourself and having the right investing mindset – if you think you can do it, you can. He mentions he took life-coaching classes and it helped him understand you need to find your Why and your How will come. Gino talks about how he transitioned from buying multifamily assets without using outside money to building a brand and raising capital.  He discussed the importance of finding a sponsor you know, like and trust.  He also mentions that to vet a sponsor you need to do the work and evaluate their track record, their business model, their reputation and maybe even go visit them and see properties they own. Gino tells the story of the poor vetting he did when investing with a guy he calls Maserati Mike.  He also discusses the Howey Test and explains how that test applies to syndications. He goes on to say some of the metrics he thinks passive investors should evaluate when considering a multifamily syndication investment. Gino talks about how cashflow gets you out of a W2, but appreciation keeps you out. This is an important factor to consider when analyzing a sponsor and a deal. Gino is a reader rather than a listener, but below are the podcasts from the Jake & Gino Community: Wheelbarrow Profits    Movers & Shakers   Rand CRE Show    Multi-Family Zone  Books he recommends: Vivid Vision by Cameron Herold Seven Habits of Highly Effective People by Stephen Covey Mindset by Carol Zweck To connect with Gino, you can email him at gino@jakeandgino.com. To get a copy of Gino's e-book, How To Share the Benefits of Multifamily Investing to Create Financial Independence,  send him an email to gino@jakeandgino.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.    

Join us on this enlightening episode of the Passive Investing from Left Field podcast, where we dive deep with Brian Burke, president and CEO of Praxis Capital. With over $800 million in real estate acquisitions, Brian shares his seasoned perspective on navigating the unpredictable real estate market, preserving capital, and strategizing investments for long-term success. Whether you're a new investor or a seasoned veteran, Brian's insights on current market trends and his prudent approach to investment offer invaluable lessons in cautious yet successful real estate investing. Don't miss out on these expert insights – tune in now!   About Brian Burke  Brian Burke is President / CEO of Praxis Capital Inc, a vertically integrated real estate private equity investment firm, which he founded in 2001.Brian has acquired over 800 million dollars’ worth of real estate over a 30-year career including over 4,000 multifamily units and more than 700 single-family homes, with the assistance of proprietary software that he wrote himself. Brian has subdivided land, built homes, and constructed self-storage, but really prefers to reposition existing multifamily properties. Brian is the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications, and is a frequent public speaker at real estate conferences and events nationwide.     Here are some power takeaways from today’s conversation: 3:00 Has he lost any investor's money 4:00 When is it the time to buy? 6:30 Will rate caps go down?  8:43 Will escrow help with rate caps? 11:03 Investor expectations 18:11 debt funds 23:12 Forecast for 2024 29:31 Floating rate debt  37:12 Syndicators in technical default of their loan covenant  39:46 Should LP invest in multifamily right now? 41:22 Pref equity and rescue funds on underperforming deals 45:07 How many investors should an LP invest with to diversify your portfolio  48:40 Bridge mortgage fund 51:51 Podcast recommendation 52:45 Contact Brian   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Website: www.PraxCap.comLinkedIn: www.linkedin.com/company/praxcapLinkedIn: www.linkedin.com/in/praxiscapitalFacebook: https://www.facebook.com/praxcap/Twitter: https://twitter.com/praxcapInstagram: https://www.instagram.com/praxcap/Instagram: https://www.instagram.com/investorbrianburkeBook:  www.BiggerPockets.com/SyndicationBook  Podcast Recommendations: Bigger Pockets: https://www.biggerpockets.com/ Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/

Most people want to live a life full of choices and without regret – it’s a lot easier to accomplish this if you are financially free. To get there, you need one of the two forms of capital – time or money. Knowing which you have can help you implement an investment strategy to help you achieve your goal of being financially free. Join Jim Pfeifer as he talks with Chris Larsen about how he used his capital to attain financial freedom. Chris is the founder and Managing Partner of Next-Level Income, through which he helps investors become financially independent. Learn more about the value of asking why, how life insurance is a strategy not an investment, and why car wash investments might be the next exciting thing in syndications! All that and more in today’s episode of Passive Investing from Left Field. 

Adopt a cashflow passive income mentality and invest in assets that generate regular, predictable cash flow. In this episode, we sit down with cash flow expert Chris Miles as he discusses the value of asset-backed investments and the importance of holding cash for strategic investment decisions. After transitioning from financial advising to real estate investing, Chris got to retire at 28.  About Chris Miles Chris Miles is a cash flow expert and the “anti-financial” advisor. Through his company Money Ripples, he works with clients to become financially independent and significantly increase their cash flow. Chris is also the host of the Money Ripples podcast. Here are some power takeaways from today’s conversation: [01:50] Growing with a scarcity mindset [04:16] How he got into financial advising [06:59] How Chris retired at 28 because of real estate investing [10:16] The accumulation theory and financial institutions [12:30] The FIRE Movement vs. the cashflow passive income mentality [15:42] The value in asset-backed investment [18:47] Why you shouldn’t bank on values going up [21:12] What you need to know when investing in oil [24:25] The value of holding cash today [31:35] When investing in insurance makes sense [35:33] Tips for finding quality operators Episode Highlights: [12:30] The FIRE Movement vs. The Cashflow Passive Income Mentality The FIRE (Financial Independence, Retire Early) movement has gained significant popularity in recent years, focusing on accumulating a certain amount of wealth and living off a small percentage of it each year. However, this model has been debunked by various simulations that suggest a withdrawal rate of 3% or less, rather than the commonly suggested 4%. Living on 3% of a million-dollar portfolio amounts to a lifestyle below the poverty line, which is not what individuals envision when they think about financial independence. On the other hand, a cashflow passive income mentality focuses on investing in assets that generate regular, stable, and predictable cash flow. By investing in turnkey rentals, apartment syndications, and oil and gas royalties, for example, individuals can create a steady stream of passive income that can significantly improve their quality of life.  [15:42] The Value in Asset-Backed Investment Asset-backed investments like real estate classes are less volatile than stocks. The S&P 500's yield average over the last 30 years is lower than expected at around 7.7%. Diversification in the stock market can be illusory due to a few dominant players causing fluctuations. Real estate investments offer lower risks and higher returns, making them a promising alternative investment with long-term growth potential. [20:25] The Value of Holding Cash Today In 2022, there was a prevalent belief that holding cash was a poor financial decision due to the risk of inflation. However, when the masses say one thing, it is often wise to do the opposite. While real estate and stock markets may be subject to fluctuations, cash can provide stability in uncertain times. If banks tighten their lending practices and quantitative tightening occurs, those who have cash on hand may have an advantage. While other investors may have their capital locked up in assets, cash holders have more flexibility and freedom to invest in opportunities as they arise. Thus, holding cash can be a strategic decision, particularly when other forms of investment are perceived to be high-risk or overpriced. In short, cash is still king or queen in uncertain times. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Money Ripples Money Ripples podcast Learn more about Rise48 Equity's multifamily investments and schedule a call with their CEO Zach Haptonstall at rise48equity.com/invest.  Podcast Recommendation: https://www.edmylett.com/podcast 

Joining us today was Whitney Elkins-Hutten from Passiveinvesting.com. Whitney talks about her personal journey into the passive investing world that she manages alongside her responsibilities with PIC. Listen to her lessons learned tips that she's developed as an LP.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us on the latest episode of Passive Investing from Left Field, as we dive deep into the world of commercial real estate investing with special guest Ryan Gibson, co-founder of Spartan Investment Group. Ryan, formerly an airline pilot turned real estate mogul, shares the turbulent journey of transitioning into the self-storage industry and the strategies that propelled him to success. Discover the exciting opportunities and hurdles of syndicated investments, the significance of transparent investor communication, and innovative ideas for generating passive income. About Ryan Gibson Ryan Gibson is a co-founder of Spartan Investment Group and a former airline pilot who made a successful pivot to real estate investing, focusing on self-storage. His entrepreneurial spirit was evident early on when he provided affordable housing for pilots through organized crash pads. Today, his expertise and leadership have contributed to the growth and resilience of his company amidst market fluctuations and financing challenges. Ryan also hosts the Passive Income for Pilots podcast, sharing valuable insights on building passive income. With a strong emphasis on managing investor expectations and capital preservation, his strategic approach to investment, particularly in ground-up development and value-added projects, has made Ryan a recognized voice in the passive investing community. Here are some power takeaways from today’s conversation: 00:00 The Best Ever Conference 01:31 Tribevest Ad 02:03 Coming Up 02:22 Intro 02:40 Welcome to the show 03:43 Ryan’s journey into  real estate investing 07:45 What are pilot crash pads  10:36 How he got his start in real estate investing 11:50 Where is the market at right now 15:36 Disruption is good for self-storage 19:20 Who Is buying from who 21:21 Viking Ad 22:08 Rise 48 Ad 22:37Tyler Longview's portfolio 25:56 How he handles challenges 26:49 Buying multiple properties 32:43 Investor expectations 38:29 Types of development 43:57 Recommended podcast 44:41 Contact 45:03 Aspen Fund Ad 45:46 Vyzer Ad 46:31 Guest Overview 49:52 Outro 50:18 Disclaimer  Episode Highlights: 1.  Ryan Gibson, co-founder of Spartan Investment Group and former airline pilot, shares his journey from pilot crash pads to successful self-storage real estate investing and hosting a podcast for high-earning professionals. 2. The episode covers Ryan's experiences with the challenges of financing and selling properties in a fluctuating market and his strategic approach to overcoming those challenges including transparent communication with investors and prioritizing capital preservation. 3. Ryan discusses the intricacies of deal structuring and the benefits of ground-up development in the self-storage industry, highlighting how they manage risks and expectations as detailed in the Private Placement Memorandum. 4. Industry insights reveal that self-storage thrives on disruption and that the market conditions currently favor development projects, amidst issues such as decreased demand due to a slowdown in home sales and moves. 5. The significance of the self-storage market is emphasized with the business still being strong and attractive to investors, despite some portfolios facing struggles. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Contact The Guest: LinkedIn Instagram Facebook YouTube  Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Podcast Recommendations: Motley Fool Money The Walker Webcast All In Podcast Advertising Partners: Left Field Investors - BEC Tribevest Rise48 Aspen Funds GSP REI Spartan Investment Group Vyzer

Join us for a replay of this insightful episode as we sit down with Russell Gray, financial strategist and co-host of The Real Estate Guys Radio Show. Russell shares his journey from real estate to syndications, offers invaluable lessons from economic history, and provides strategies for navigating today's financial landscape. Whether you're a seasoned investor or just starting out, this episode is packed with actionable advice to help you achieve financial freedom. Don't miss out on this wealth of knowledge!   About Russell Gray  Co-Host of The Real Estate Guys Radio Show; co-Founder of the Syndication Mentoring Club; founder of the Main Street Investor Mentoring Club; partner with Ken McElroy, George Gammon, Jason Hartman, and Robert Helms in the Collective Inner Circle Master Mind; co-author Equity Happens; regular contributor to Mike Maloney's Gold Silver Show; financial and business strategist; champion of American liberty.     Here are some power takeaways from today’s conversation: 01:38 His real estate journey 14:38 The great reset 39:06 Should you focus on income rather than appreciation? 47:02 Advice to LPs to analyze deals and buy the correct one instead of the hyped deal 53:51 Podcast recommendation 56:00 Contact Russell 56:33 Thank you   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: LinkedInhttps://www.linkedin.com/in/russellwgray/  Podcast Recommendations: The Woj Pod: https://podcasts.apple.com/us/podcast/nuggets-coach-michael-malone/id1470466331?i=1000600562916The Rebel Capitalist Show: https://podcasts.apple.com/mt/podcast/the-rebel-capitalist-show/id1492584441Ken McElroy Real Estate Strategies: https://podcasts.apple.com/us/podcast/ken-mcelroy-real-estate-strategies/id1465180254  Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Episode 37 of the LFI Spot Light features Infielder Mike Abramowitz. Mike's journey includes working in several entrepreneur businesses and getting to a point where he coaches struggling entrepreneurs to a better structured business. Mike is developing his passive wealth to help support his ventures and has some good tips for those that are developing their wealth as well.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/.

Real estate investing can be a profitable and exciting venture, but it can also be complex and daunting for those who are new to the industry. In this episode, Joe Berko, CEO of Astor Realty Capital, shares his journey into the world of finance and commercial real estate. Managing assets like hotels, Joe shares his thoughts on the current state of the real estate market and where he sees it heading in the future. He also delves into how he evaluates potential operating partners and what traits he looks for in them. Find out some investment strategies he is pursuing in the current market. Joe Berko Joe Berko is a nationally recognized, inspirational entrepreneur with over 25 years of success predicated on profitable investments, ethics, and generosity. A great believer in giving back, Joe serves on the board of several non-profit organizations and has been invited to speak at professional conferences. Here are some power takeaways from today’s conversation: [02:57] How Jim got interested in finance and real estate [06:40] Building Berko & Associates [09:08] Your name goes a long way. [12:03] What to look for  in an operator: Looking at the market and asset classes [15:56] Resilient markets: The case of Scottsdale, Arizona [22:28] The triple C’s in finding an operating partner [25:06] How to evaluate an operating partner Episode Highlights: [22:28] The Three Cs of Decision Making: Collateral, Credit, and Character Collateral. This refers to the love and understanding of real estate, including its location and dynamics. Analyze to ensure you’re comfortable with all aspects of the investment. Credit. While you work with many experienced individuals, not all of them have the financial resources to support the investment. Look for partners who have the ability to bring in financing, including the right banks, to ensure that you can move forward with confidence. Prioritize working with partners who are willing to invest their own money in the deal, as this demonstrates a strong commitment to its success. Character. Real estate deals can be derailed by human error. It’s crucial to work with partners who have integrity, honesty, and a strong work ethic. There is no formula or spreadsheet for character, but it is essential for long-term success in any venture. [25:06] How to Evaluate an Operating Partner When it comes to finding the right operating partner, there are some key factors to consider. First and foremost, you need to feel comfortable with your partner. It's not just about their years of experience or the size of their team. You need to look for someone with strong character, who is committed to the success of the venture. One way to evaluate a potential partner is to pay attention to their behavior when things start to go wrong. This is when the true character of a person is revealed. Look for someone who can stay calm under pressure, who is willing to take responsibility for their mistakes, and who is proactive in finding solutions. Intuition is also an important factor to consider. Trust your gut when making decisions about who to work with. Pay close attention to details, listen carefully, and be sensitive to any red flags that may arise. Ultimately, the goal is to find an operating partner who shares your values and is committed to your success. With the right partner by your side, you can achieve great things together. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Astor Realty Capital (Contact their Investor Relations Manager at laura@astorrealtycapital.com) Download Aspen Funds' free economic report at https://aspenfunds.us/lfi 

Join us on this spotlight episode of the Passive Investing from Left Field podcast, where our guest J Scott, a seasoned real estate investor and author, shares his valuable insights on the current economic climate, the impact of interest rates, and strategies for navigating the volatile commercial real estate market. Whether you're an experienced investor or just starting, this episode is packed with actionable advice to help you make informed decisions.   About J Scott  Entrepreneur with 30 years experience in the consumer software, electronics, service and real estate industries. Former Director of Product for several Fortune 100 technology companies and current roles of Founder, Partner and Advisor in several businesses/organizations. Multifamily investor with $140M AUM. Early stage angel investor. Author of five investment books, with sales of over 450,000 copies.    Here are some power takeaways from today’s conversation: 2:16 2024 Economic Update3:52 Data vs. Sentiment in the Economy5:40 Outlook for LP Investors13:58 Closing comments   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Contact the guest:LinkedIn: https://www.linkedin.com/in/jscottinvestor/ Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/

David Morovitz was 45 years old when he realized he didn’t have any real estate. He had no possessions besides his own property. That was what triggered him to really start investing more. So he reached out and learned about the world of syndication. He went to meetups and landed right on left-field investors. And thanks to left-field investors, David has been exposed to sponsors from every asset class to really create a diverse portfolio. Having the ability to bounce sponsors and numbers off through so many resources is something you have to take advantage of. So start now while you’re young, don’t wait till you’re 45. Get out there and start investing in real estate.

Franchising is becoming a more popular way to start a business. It allows you to invest in an established business system with a proven track record of success. But how can you find the right franchise for you? Tune in today to hear Kim Daly share her insights. Kim is the Franchise Consultant at The Daly Coach, one of America’s Top Franchise Consultants, Founder & Host of KimDaly.tv, and Motivational Speaker & International Best-Selling Co-author. She is also the creator of “The Daly Plan” – a millionaire mindset coaching program that enabled her to build the largest franchise consulting business in the history of franchise consulting. For the past 20 years, Kim has been helping people realize their dreams of business ownership through franchising. In this episode, Kim sits with Jim Pfeifer to walk you through franchising, why it is a good business model for anyone who wants to dive into entrepreneurship, and how you can find the right franchise. 

This is the second part of the two-part podcast interview with Bob Fraser. And we pivot today's discussion into the megatrends: demographics, oil & gas, inflation, and interest rates. He discusses the trends he’s seeing and specifically identifies what asset classes will help us capitalize on that trend. About Bob Fraser Bob Fraser is a finance and technology executive, with over 20 years of experience, who is passionate about educating others about alternative investments. In 2012, he co-founded Aspen Funds, a fund management company focused on alternative investments, where he is responsible for financial management, portfolio modeling, as well as systems and processes. Here are some power takeaways from today’s conversation: [00:00] Introduction [02:58] The megatrends in demographics [07:16] The industrial boom in the United States [15:14] How investors can capitalize on the energy issue [18:52] How LPs get comfortable with oil and gas [24:15] Inflation is coming due to demographics [27:21] Opportunities in the distressed debt space [32:56] Economic forecasts for the second half of 2023 Episode Highlights: [04:08] The Megatrends in Demographics China's population is set to decline drastically in the next 75 years, leading to significant changes in its economy and workforce. This will result in a surplus of infrastructure that may no longer be necessary, and a severe impact on the country's manufacturing power due to the loss of two-thirds of its workforce. The demographic shift will have implications for other countries in Asia, Russia, and Italy, and will significantly alter the world's economic landscape, making it challenging for China to remain an industrial power in the future. [15:14] Non-operated Working Interests: How Investors Can Capitalize on the Energy Issue One way to make money is through property rights and royalty interests. However, many people park their money in this way, which can result in low returns. To generate substantial profits, it's essential to have a deep understanding of where the development is going and make smart investments. Non-operated working interests entail owning leases, paying royalties to landowners, and giving them to other operators such as large oil companies who bring resources and expertise to the table. Revenues are shared between parties, leading to high returns on investment without direct management of operations. Despite the minimal risks associated with drilling due to advanced technology and well-understood geology, many investors are hesitant to take advantage of this opportunity, making it a cost-effective option for those willing to take the risk. [27:21] Opportunities in the Distressed Debt Space If you’re looking for investment opportunities, consider distressed debt as a potential option. Despite the risks involved, this type of investment can bring high returns for those willing to take calculated risks. The current market conditions may present opportunities to purchase debt at a discounted rate, with the hope of selling it back at a profit when the company recovers. It's time to overcome your fears and dip your toe into this potentially lucrative area. Keep an eye out for upcoming opportunities that may arise as the market changes. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Invest Like a Billionaire podcast  Aspen Funds

🎙️ Welcome to a spotlight episode of "Passive Investing by Left Field Investors"! Today, we're excited to feature a podcast swap with "Money Ripples with Chris Miles."  Chris Miles, known as the anti-financial advisor, and his community focus on investments in real assets that generate real cash flow, aligning closely with our philosophy here at Left Field Investors. If you're seeking alternatives to traditional financial planning, Chris's approach might be the refreshing perspective you need. In this spotlight episode, listen as Chris explains why traditional financial strategies often fail and how to navigate your financial future differently. 🚀 👉 If you find value in the discussion, make sure to head over to the Money Ripples podcast on your favorite podcast player and hit subscribe.    About Chris Miles   Chris Miles, the “Cash Flow Expert,” is a leading authority on how to quickly create cash flow and lasting wealth for thousands of his clients, entrepreneurs, and others internationally! He has been featured in US News, CNN Money, Bankrate.com, and has a high reputation for getting his clients life-altering financial results in his company, Money Ripples.      This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Website: https://moneyripples.com/

Today, my guest was Peter Leung. Peter shared his story, which started early on by migrating to the US from China and being homeless for a short period of time. Peter became very focused and motivated by this, and it sparked his journey to the success he has today. He now consults with college students to educate them on traditional financing and alternative investing, with a focus on value investing. Listen in to hear his advice about how important it is to have cash flow, not just cash.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

When investing, you need to do your research like a ninja - you need to know the market, the industry, and all the factors around your investment. Join your host Jim Pfeifer as he sits down with Cashflow Ninja, M.C. Laubscher. M.C. is the founder of Producers Wealth and Cashflow Ninja. In this episode you will learn how to find sponsors and people you can trust when it comes to investing and hear about some of the different real estate assets M.C. focuses on, such cell tower syndication high cash value life insurance and more. Forget about FOMO and live in JOMO instead! Find what that means as you become a Cashflow Ninja today! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Cherry Chen is a full time internal medicine physician.  She is the founder of The Real Estate Physician – a community of physician investors focused on working toward financial independence. In this episode, Cherry talks about the importance of networking when passively investing and how her community helps investors become informed, vet sponsors and find deals. Cherry started her community to share with other doctors what she learned about syndications and to create a platform to share what she would have liked to have known when she started. Her goal is to create a space where doctors can invest safely and with confidence. Cherry discusses that her first objective with new community members is to help them get informed – through podcasts, books, blogs and introductory calls with her new people in her network. Her second objective is helping her community know who to trust and how to determine if a deal is a good deal worth funding. Cherry mentions the importance of making sure that the passive investments you make match your philosophy and fit in your portfolio. She discusses that there are no secrets or shortcuts to vetting a sponsor, you need to talk with them and develop a relationship of Know, Like and Trust. Cherry talks about how to pick a market and that she prefers stabilized value add properties. She mentions that her favorite markets are those with population growth and corporate headquarters moving to the city. She talks about the importance of doing your homework and not jumping into an opportunity without doing proper due diligence. Podcasts Cherry recommends: Bigger Pockets Best Ever with Joe Fairless The Real Estate Guys Old Capital Podcast To connect with Cherry go to www.therealestatephysician.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Jorge Newberry is CEO and Chairman of AHP Servicing LLC and American Homeowner Preservation LLC, which crowdfund the purchase of nonperforming mortgages from banks at big discounts, then share the discounts with struggling homeowners. He is also Founder and CEO of Debt Cleanse Group Legal Services, a nationwide legal plan to help consumers and small businesses get out of debt. In this episode, Jorge discusses his rise and fall in multifamily investing and how he got out of debt and started new businesses that make money for investors and help homeowners in financial distress. Jorge discusses his two new investment opportunities which are similar to his previous fund where they buy loans from banks and help the homeowners stay in the home be restructuring the mortgage. Podcasts he recommends: Wealth Formula Jorge mentioned his book "Burn Zones", you can buy the book using this link. To connect with Jorge or to view his investment opportunities go to prereo.com or ahptitle.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.    

Whether you are a passive investor who wants to learn how to maximize your wealth or are you an operator who wants to communicate effectively with investors – you need to have a mindset for success. Today, John Casmon discusses the mindset, strategies, and actions that can help you win in the world of real estate! John is a real estate entrepreneur, host of the Multifamily Insights podcast, and co-founder of Casmon Capital Groups. Whether you’re a passive investor or operator, you are certain to gain valuable insights in this episode! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Learn practical ways to analyze deals and business plans during volatile times. In this episode, real estate investment expert Eric Sussman joins us as we cover a wide range of topics including the current state of the economy, inflation, interest rates, distressed assets, and evaluating sponsors. Eric's engaging commentary and wealth of experience offer valuable lessons for both new and experienced passive investors. About Eric Sussman Eric Sussman is a founding partner of Clear Capital, a real estate investment firm with over 25 years of experience. Eric has deep knowledge of commercial real estate across multiple property types and markets. He publishes a highly informative quarterly newsletter sharing his insights on macroeconomic trends and their impact on real estate. Here are some power takeaways from today’s conversation: [04:06] Eric’s career path [07:40] Economic uncertainty and its impact on markets [11:11] The debt market [17:28] US dollar's global dominance and potential challengers [23:46] Distressed real estate [26:31] The importance of investing with experienced sponsors [29:38] Evaluating sponsors' experience in real estate investing [32:07] Banking crisis, capital calls, and sponsor responsibilities [37:51] Investing in multifamily real estate Episode Highlights: [11:11] The Debt Market Eric provides insight into challenges in the debt market. He notes rising interest rates have caused losses for banks on fixed-rate loans and treasuries. Variable rate loans are also affected as borrowers face higher rates upon reset. Banks have higher funding costs from increased deposit rates. Lending activity has declined significantly. Some banks may face further difficulties depending on their loan portfolio composition between fixed and floating-rate loans. This uncertainty in the debt market is impacting real estate transaction volumes and refinancing opportunities as lenders take a more cautious approach during this period of rate volatility and unknown economic impacts. [23:46] What is Distressed Real Estate? Eric explains that the term "distressed" doesn't have a fixed definition, but it generally refers to situations where cash flow is insufficient to cover debt levels. Even performing assets could become distressed if they were sold or refinanced today due to rising interest rates. Lenders assess each situation individually based on factors like the sponsor, business plan execution, and guarantor strength, so they are unlikely to own all multifamily properties.  [26:31] The Importance of Evaluating Sponsors Investing with experienced sponsors who have a personal stake in the game is crucial for success. Clear Capital firmly believes in this philosophy. As investors, it's essential to consider the expertise and financial commitment of our sponsors. According to Eric, by aligning their capital with the sponsors, they minimize uncertainty and increase the likelihood of successful execution. Therefore, keep a close eye on our chosen sponsors and ensure they deliver on their promises. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Clear Capital Connect with Eric Sussman on LinkedIn Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Advertising Partners: Tribevest Rise48 Aspen Funds GSP REI

Are you sure you're executing the right strategies, or are you willing to learn more? It’s never too late to start diving in and grow your business! In this episode, Robert Levy, founding partner of LPX investments, shares his knowledge on real estate investing, specifically in retail. Robert has been in real estate for 30 plus years. He got a job with a local real estate consulting firm straight out of college and then became an investment banker and a stock analyst. Robert has been involved in many areas of real estate including asset management, finance, multifamily, retail, and hotels - this experience gives him an advantage when determining where to allocate capital. Tune in and find out more! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

This week’s episode features ME - Chad Ackerman. Realizing I hadn't told my own story, this week I recorded my journey to share with the community. Listen in to the lessons learned and advice I have to give that I've picked up throughout my time investing passively in real estate. Maybe my goals will be aligned with yours? Or maybe our "whys" will be similar. Perhaps you too are thinking about liquidating your 401k. Enjoy hearing more about my story. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Risk is as big a part of investing. So how do you mitigate or minimize risk and maximize your reward? In this episode, that’s the conversation as physician and investor, Ian Kurth, shares his insights with Jim Pfeifer. Ian discusses how he got into investing, the different investment assets he has handled over the years and his take on the Bitcoin craze. Want to learn more about investing from a seasoned investor? Tune in as Ian and Jim share their experiences. To see the full show notes and transcript, click here.

Welcome to PassivePockets: The Passive Real Estate Investing Show, where we help you build and protect your wealth through smart, hands-off real estate investments. Hosted by Jim Pfeifer, each episode brings you expert interviews with experienced Limited and General Partners who share practical tips and strategies for growing your portfolio without the grind. Whether you're a seasoned investor or a busy professional, PassivePockets equips you with the insights, market trends, and risk management tactics needed to make informed decisions and achieve long-term financial success.

Spencer Hilligoss is the CEO & Co-Founder of Madison Investing, a real estate syndicator partnering on over $800M in multifamily and self-storage assets under management. He is both a passive investor and active syndicator with a history in the financial technology industry. In this episode, Spencer discusses matching your investment strategy to your strengths, building your own investing criteria, and understanding the structure and value of the general partners in a syndication. Spencer discusses financial offense and defense. He thought two large W2 incomes was enough but realized that multiple income streams would help insulate his family against the unknown.  That’s what he calls financial offense – things like adding income streams and setting clear financial goals.  Financial defense is thinking about creating maximum tax efficiency and expanding ones means rather than being completely focused on cutting costs. Spencer explains how his fintech experience helped him prioritize personal finance and to see money as a tool.  This perspective also led to his transition from SFH’s to syndications. He also mentions that the operator, the market, and the deal are three critical things to look at for each syndication investment. He mentions that he thinks the strength, structure and experience of the operator are the most important parts to evaluate. Spencer stresses the importance of understanding the structure of the management group and what value each general partner is adding. He recommends third party evaluation of sponsors either through your network or getting references from people who have invested with them before. He discusses the importance of building your own criteria for what is important to you to get from the sponsor. Podcasts he recommends: Old Capital  Bigger Pockets  Financial Freedom with Real Estate Investing    To connect with Spencer, go to www.madisoninvesting.com or LinkedIn.   If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

There is a difference between investing and saving. To attain financial freedom you need to take action and invest. In this episode, Billy Keels, Founder of First Generation Capital Partners, shares his experience and the different trials he faced along his journey. He talks about how Rich Dad Poor Dad by Robert Kiyosaki changed his mindset and helped him liberate himself from his W2. Tune in to this inspiring episode to gain insights on how Billy found investing success and achieve financial freedom. 

Success is not found in comfort, but in the boldness to pursue your passion. In this episode,  J Scott shares his journey from flipping houses through apartment syndication. He shares how he and his wife left the corporate world and jumped in to flipping houses and how they built their business from there. Along the way, J wrote The Book on Flipping Houses which has sold over 350,000 copies worldwide and he recently released his latest book, Real Estate by the Numbers. In this episode, he offers valuable insights into the strategies and lessons he has learned along the way, including always being open to new opportunities and diversifying your investments. Tune in to this episode to learn from J’s expertise and experience in the world of real estate. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

Self-storage has been one of the best performing real estate asset classes over the past two decades, especially in uncertain economic times. Join Jim Pfeifer as he talks to real estate investor turned self-storage investor, Scott Meyers. Self-storage is a simple and predictable asset class and Americans love to store their stuff - in good times and in bad times. You can add value and raise rents much more quickly than in multifamily and other assets. Tune in to learn how the storage business works, how to vet sponsors, analyze deals and become a successful passive investor in self-storage! 

Buck Joffrey is a surgeon turned real estate professional with nearly $1 billion in real estate transactions including $400M in current real estate assets under management.  He is also a financial educator focused on alternative assets.  He runs a fantastic Community called the Wealth Formula Network and is host of the Wealth Formula Podcast as well. In this episode, Buck talks about the keys to forcing equity, investing in multifamily, self-storage and ATMs, and how to vet a sponsor. Buck talks about how good students usually stay on the career path rather than become entrepreneurs and he was on that track until he discovered Cash Flow Quadrant by Robert Kiyosaki. That book helped him realize he wanted to be an entrepreneur and he followed that path which led him to real estate. Buck discusses that the focus of his multifamily investing is not to “buy and hope”, rather to buy and force equity by increasing net operating income.  He mentions that the math is simple, but you need a great operator to make it actually happen. He talks about Western Wealth Capital and their strategy to force equity and they prefer properties that are significantly underperforming which gives them plenty of room to force appreciation and provides velocity of money for investors. Buck talks about self-storage and how the strategy of forcing equity applies there too – he mentions buying underperforming “mom & pop” properties that haven’t kept rent up or have space to build more units to add value to these businesses.  He also mentions that it is sometimes easier to increase rents because the rents are lower in dollar terms than multifamily. Buck discusses ATM’s and why they are a good investment, but not a replacement for real estate investing.  The cash flow and returns are good, but the bonus depreciation is what makes the ATM investment really attractive. He also discusses using life insurance cash value or a HELOC to amplify the returns from ATM investments. Buck talks about how to vet a sponsor and investing with sponsors that you know, like and trust who have a legitimate track records. He also talks about bridge debt and in what situations he would use it. Podcasts he recommends: Wealth Formula Podcast  Lex Fridman Podcast The Portal  The Wealthabilty Show  Purple Insider  To connect with Buck go to wealthformula.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Paul Moore is the Founder & Managing Partner of Wellings Capital, a real estate private equity firm focused on mobile home parks and self-storage facilities.  He is an author, podcaster, a regular contributor to Bigger Pockets and an experienced real estate investor. In this episode, Paul talks about forcing appreciation, speculating versus investing, and some of the metrics he looks at for mobile home parks and self-storage facilities. Paul talks about forcing appreciation and compressing cap rates as reliable ways to increase the value of an investment.  He explains what a cap rate is and how it works when forcing appreciation. He describes commercial real estate investing as buying an income stream and working to increase the income. Paul talks about his decision to move from multifamily to self-storage and mobile home park investing because he saw there was significant undervalued opportunity in those asset classes.  He likes asset classes with mom-and-pop owners because a good operator can dramatically increase efficiencies. He estimates around 85% of mobile home parks and 50% of self-storage facilities are owned by mom-and-pop owners. Paul discusses how he diversifies by operator, asset class and market, as well as how he does due diligence and vets operators.  He also talks about the advantages and disadvantages of investing in funds. Paul talks about the difference between in investing and speculating – investing is when principal is safe with a chance to make a return.  Speculating is when principal is not safe and there is a chance to make a return.   Paul discusses some of the metrics he looks at when evaluating a deal.  For self-storage – he looks at the density of self-storage in an area, requires the property to be on a main road and visible from the road, and the average income for the area should be equal to average income near the facility.  For mobile homes – he only looks at parks in a town with 5000 or more people, within five miles of a Super Walmart, and no private water or sewer. Podcasts he recommends: The Real Estate Guys Radio Show Bigger Pockets  Bigger Pockets Business   Books mentioned on the show: Storing Up Profits: Capitalizing on America’s Obsession with STUFF by Investing in Self-Storage  The Hands-Off Investor  Paul mentions his work fighting against human trafficking, below are the educational resources he recommended: Nefarious  Exoduscry.com To connect with Paul go to wellingscapital.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

If you are looking to diversify your investments, this podcast is for you! Left Field Investors is a community of experienced individuals sharing resources and expertise to help their tribe members make informed decisions and take calculated risks. In this episode, Jim Pfeifer shares his journey to passive investing and how the community has played a big role in his success. Tune in and learn how you can grow your network and never have to take the risk alone. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Vyzer is a wealth management tool that was designed to monitor and track all of the standard financial asset classes. But what’s most exciting about this tool is how it has been optimized to track passive syndication investments. Litan Yahav explains how Vyzer works in this conversation with Jim Pfeifer. Litan started out developing hardware and software for photographing and displaying diamonds online for trading. After he sold the company, he and his partner decided to invest on their own rather than go with a standard wealth manager.  They found real estate syndications and started allocating capital but soon found that there was no software solution for tracking syndication investments - so they decided to build their own.  This was the beginning of Vyzer - the complete wealth management tool that allows you to track all of your financial assets, including syndications and private placements.   Tune in to this episode to learn how to ditch your spreadsheets and get started with Vyzer!

Welcome to an extraordinary episode of Passive Investing from Left Field! If you attended the meetup in Left Field, this is your second chance to hear this informative episode, and if you didn't, well, you're in luck. Guest Jeremy Roll and Jim Pfeifer tackle the essentials of passive real estate investing. They delve deep into the importance of meticulous due diligence and the critical role of investment documents. Jeremy discusses the state of market investments for the next decade, his current investment strategies, and what LP investors should focus on. This episode is packed with insights for the discerning passive investor seeking stability and growth in their investments. About Jeremy Roll Jeremy started investing in real estate and businesses in 2002 and left the corporate world in 2007 to become a full-time passive cash flow investor. He is currently an investor in more than 60 opportunities across more than $1 Billion worth of real estate and business assets. As Founder and President of Roll Investment Group, Jeremy manages a group of over 1,500 investors who seek passive/managed cash-flowing investments in real estate and businesses. Jeremy is also the co-founder of For Investors By Investors (FIBI), a non-profit organization that was launched in 2007 to facilitate networking and learning among real estate investors in a strict no sales pitch environment. FIBI is now the largest group of public real estate investor meetings in California with over 30,000 members. Jeremy has an MBA from The Wharton School and is an Advisor for Realty Mogul, the largest real estate crowdfunding website in the US. Jeremy welcomes e-mails (jroll@rollinvestments.com) to network with or help other investors and to discuss real estate or business investments of any size. Here are some power takeaways from today’s conversation:  00:07 Meet Jeremy Roll 01:31 Tribevest  00:51 Insights into Market Trends 03:38 Examination of Jeremy's Market Concerns for the Next 6 to 12 Months 05:58 Factors Influencing Jeremy's Return to Investment 07:56 Analysis of Defensive and Offensive Asset Classes 10:13 Exploration of ATM Investments 13:15 Negotiating Operational Agreement Changes with Operators 15:15 Importance of Reviewing Deal Documents Prior to Execution 18:20 Conducting Background Checks in Collaborative Ventures 20:14 Reflection on Past Deal Challenges 22:55 Understanding the Significance of Private Placement Memorandum (PPM) 24:43 Pros and Cons of ATM Investments 26:14 Future Projections for Multifamily Deals 28:15 Speculation on Banks' Approaches to Loans and Property Foreclosures 29:12 Identifying Promising Asset Classes for the Coming Years 31:15 Navigation of Capital Calls in Investments   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.     Resources Mentioned: Email: jroll@rollinvestments.com  Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Podcast Recommendations: Motley Fool Money The Walker Webcast Advertising Partners: Left Field Investors - BEC Tribevest Rise48 Aspen Funds GSP REI Spartan Investment Group Vyzer

There are many ways to grow your wealth and real estate is one of our favorites, but you can invest not only in what’s built on the land but also in what is under the land. In this episode, we dive deep into the space of investing in mineral rights. Jim Pfeifer is joined by Troy Eckard, the CEO of Eckard Enterprises, LLC—a family-owned and operated alternative investment firm specializing in the U.S. oil and gas industry. Troy helps us understand what mineral rights are, the differences between land rights, mineral rights, and air rights, and how to maximize the opportunities in space. Troy also discusses the operators in this asset class, strategies, and what to look out for when evaluating a mineral rights investment. Is investing in mineral rights for the long term? What are its implications to the ESG—environmental, social, and governmental? How do you vet the operators and avoid Ponzi schemes? Listen in as Jim and Troy answer these questions and more in this conversation! 

In this episode of Passive Investing from Left Field, I sit down with Tom Dunkel from Belrose Storage Group. We dive into his fascinating journey from the aerospace industry to mastering self-storage investments. Tom shares his insights on the SAFE method for passive investing, the impact of the pandemic on the self-storage sector, and his strategies for achieving long-term financial stability. Whether you’re an aspiring real estate investor or a seasoned pro, this episode is packed with valuable advice and inspiration. Tune in now!   About Tom Dunkel  Tom, the managing director of Belrose Storage Group, has a background in corporate finance and nearly 30 years of real estate and investment experience. He manages the firm's financial underwriting, playing a critical role in creating win-win deal structures that ensure achievable investor returns. Since 2006, Tom has specialized in discounted asset opportunities nationwide. His financial savvy, open communicative manner, and integrity have helped alternative investors achieve their wealth-building goals. Here are some power takeaways from today’s conversation: 01:37 his background 09:07 Benefits of commercial real estate vs others 14:22 The self-storage market 17:13 The S.A.F.E. Method 26:18 How LPs can avoid mistakes 31:24 Where they are located 33:30 Podcast Recommendation 34:22 Contact Tom   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Podcast Recommendations:Cashflow connections: https://cashflowconnections.com/podcast/ Resources Mentioned: Contact the guest:Social MediaLinkedIn https://www.linkedin.com/in/tomdunkel/Facebook https://www.facebook.com/tom.dunkel Advertising Partners: Midloch:https://midloch.com/ Vyzer:https://vyzer.co/ Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Tribevest: https://www.tribevest.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Join us on the Passive Investing from Left Field podcast as we dive deep into the world of real estate investing with our special guest, Mike Zlotnik, also known as Big Mike. In this episode, we explore the current distressed real estate market, strategies for passive investors, and how to navigate the challenges of today's high-interest environment. Don't miss Big Mike's valuable insights and advice for making smart investment decisions in 2024!   About Mike Zlotnik  Mike, the current CEO of TF Management Group LLC, has been a real estate fund manager since 2009. A retired software executive, he began investing in real estate in 2000 and now manages various real estate funds, including multiple growth and income-focused funds. Known as "Big Mike" in real estate circles due to his stature, he is more renowned for his personal integrity and keen understanding of the financial aspects of successful real estate investing. A former political refugee from the USSR, Mike is now an American citizen and a patriot, residing in Brooklyn, NY, with his wife and four children. He holds a Bachelor’s degree in Mathematics from Binghamton University and is an active member of several real estate and investor mastermind groups such as Collective Genius, Freedom Founders, Venture Alliance, and CA Investors (Private). Mike is also the author of "How to Choose a Smart Real Estate Investment Fund," available on Amazon, and hosts the "Big Mike Fund" podcast, accessible at BigMikeFund.com or on iTunes. Here are some power takeaways from today’s conversation: 02:05 His background 05:59  What he uses from the past to invest today 10:10 When to invest? 16:47 His investment cycle process 23:04 Conversion asset class 26:38 Advice to LP investors  34:54 Podcast Recommendation36:00 Contact Mike   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Podcast Recommendations:Freedom Founders David Phelps - https://www.freedomfounders.com/ Resources Mentioned: Contact the guest:Social MediaJoin his fund: https://bigmikefund.com/LinkedIn /mzlotnikYouTube @tfmanagementgroupllc123Facebook zlotnikm Advertising Partners: Midloch:https://midloch.com/ Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Tribevest: https://www.tribevest.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Josh Satin is the Director of Acquisitions at Gelt, Inc.  He is an experienced multifamily and mobile home investor involved in the acquisition of over 3300 units valued at over $300 million.  He is a former Major League Baseball player for the NY Mets and Cincinnati Reds and started his investing journey while still playing baseball by working with a mentor who exposed him to passive syndication investing.  In this episode, Josh talks about the importance of an experienced sponsor, understanding the expenses and knowing the story behind the markets you invest in. Josh talks about looking at various different industries and jobs after he retired from baseball and how he kept looking until he found his passion in multifamily investing. He mentions that he had a trusted mentor that helped him begin in the business and helped develop his interest in real estate while he was still playing baseball. Josh discusses how location is essential when selecting investments, but it’s more than just job and wage growth. The investor needs to look at the story as to why that location is experiencing growth and understand how sustainable and widespread those growth metrics are. He talks about using a rent-controlled market as a positive as it keeps competitors away and you can find success if you understand and work within the regulations in the market. Josh talks about the importance of finding the right sponsor and how critical that is to the success of the passive investor. He mentions how important it is to understand the proforma expenses that sponsors use for their financial projections. He also cautions that many sponsors underestimate the costs to operate the property which can lead to real problems if rent growth comes in under expectations. Podcast Josh recommends:Cash Flow Connections with Hunter ThompsonJomboy Media To connect with Josh, go to josh@geltinc.om or go to www.geltinc.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Through Open Tribes, Tribevest is empowering groups of investors to come together and achieve financial goals that would have been out of reach individually. When investors work together, they can achieve more than they could ever do on their own. In this episode, Jim Pfeifer interviews Travis Smith, Founder and CEO of Tribevest, about how Tribes can unlock Community Personal Finance. Travis talks about Tribevest and the many innovations and value they offer; including allowing investors to invest as a group with like-minded people, pool their capital, set up their multi-member LLCs, get into more deals than they could on their own and invest with confidence. He shares the many possibilities group investing has to offer. He also dives into the value of investing with like-minded people and using the Power Of Community to maximize your returns. Tune in to learn more about Open Tribes and how Tribevest can help you achieve your financial goals.  To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share!  https://leftfieldinvestors.com/podcast/

Paul Shannon is a real estate entrepreneur specializing in the acquisition of value-add, single-family homes and apartment buildings with a focus on conservative underwriting and cash flow. He is the Principal and Owner of Redhawk Real Estate focusing on providing high quality, affordable rental properties to Central and Southern Indiana communities, while providing stable and predictable long-term income to his investors. He is also a passive investor and a member of the Infielders Community of Left Field Investors and has written several blog posts for our group. In this episode, Paul talks about ditching the W-2 to go full time in real estate, overcoming the 4% rule for retirement savings through active and passive real estate investing, and how relationships and networking have helped his business. Paul talks about how he realized the 4% rule wouldn’t work for early retirement which led him to look past traditional investments and into “alternative” investments such as real estate. He also discusses the self-limiting doubt of the possibility of losing his entire investment if he put money into real estate and how he had to overcome that in order to change his strategy and get more into “Left Field”. Paul discusses the notion that with real estate – passive or active – one major advantage is that if you aren’t forced to sell, you can wait for the market to come back while you continue to collect cash flow during the down market. Paul mentions when you start, the first deal is always the hardest to get into – it gets easier from there.  He also talks about quitting his W-2 before he had replacement income and how the first active deal gave him the confidence to make the change even though the deal didn’t work out exactly as he planned. Paul talks about relationships and networking and how his network helped with some of his decisions, including what markets to invest in and how important it is to find quality partners and how your partners are often the most important part of a deal. Paul discusses his decision to invest passively for diversification of markets, but also to learn as an LP to experience how to be a GP in the future. Podcast Paul recommends: Old Capital Podcast To connect with Paul go to www.redhawkinvesting.com or you can find him on LinkedIn. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Economies worldwide are facing some of the most unpredictable times caused by the pandemic. To help you navigate the economy in the upcoming year is John Horn, Professor of Practice of Economics at the Olin Business School at Washington University in St. Louis. He joins Jim Pfeifer to shed light on the current state of the country’s economy and where it’s headed in terms of inflation. The pandemic has undeniably boggled multiple economies and has had cascading effects with supply chain issues, reductions in the workforce, the wage-price spiral, and more. Tune in as John breaks down and entertains different possibilities for the economy this 2022. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us for an engaging episode of Passive Investing from Left Field! In this episode, host Chad Ackerman engages in a compelling conversation with Chihiro Kurokawa, Director in the private equity practice at ZT Corporate. Kurokawa shares his journey from being a solo multifamily syndicator to a key figure in a boutique private equity firm. Gain exclusive insights into the resilience of service revenues during economic downturns, the significance of diversification across asset classes, and effective strategies in the competitive realm of private equity. Delve into Chihiro's wealth of experience as he discusses the importance of thorough due diligence, community involvement in vetting deals, and the power of teamwork in business. For passive investors seeking illuminating discussions on making informed investment decisions and navigating the intricacies of blending different asset types, this episode is a must-watch.   About Chihiro Kurokawa  Chihiro is a Director in the private equity practice at ZT Corporate, a boutique private equity firm with investment opportunities for accredited investors. The firm was founded in 1997 and has since cycled over 15 portfolio transactions representing 50+ assets. Currently the firm has an enterprise value of over $1.2 billion with holdings in medical/healthcare, branded auto dealerships and commercial real estate.     Here are some power takeaways from today’s conversation: 02:21 His real estate investment journey 08:06 Diverse business 12:35 Deal offering structure 16:30 Is this a great time to get into commercial real estate? 20:42 Comparing the metrics 23:02 What market he focuses on 24:25 Mitigating risk 28:26 Lessons learned in investing 30:50 Contact Chihiro 31:21 Podcast recommendations 32:28 Thank you for watching   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: LinkedIn https://www.linkedin.com/in/cgkurokawa/ Instagram https://www.instagram.com/cgkurokawa/ Facebook https://www.facebook.com/chihiro.g.kurokawa/ Podcast Recommendations: Acquired https://www.acquired.fm/ Advertising Partners: Left Field Investors - BEC - https://www.leftfieldinvestors.com/bec/ Tribevest - https://www.tribevest.com/ Rise48 - https://rise48.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh: https://www.leftfieldinvestors.com/books/ Vyzer - https://vyzer.co/

Camilla Jeffs had limiting beliefs that resulted in her thinking small and then she learned about passive investing. She found that she was able to stop trading time for money and started thinking big - resulting in the growth of her business and allowed her to ditch her W2 job.   Join Jim Pfeifer as he talks to Camilla Jeffs about how she exited her W2 job and created a business to help others start the passive investing cashflow snowball. Camilla is the Founder and CEO of Steady Stream Investments and teaches investors how to create multiple streams of income while also having positive social and environmental impact on the Community. Listen in to learn more about passive investing today! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

True wealth is having assets that produce cash flow - cash flow is they key to sustaining that wealth. In this episode of Passive Investing from Left Field, Paul Moore, the founder of Wellings Capital, joins Jim Pfeifer to share his secrets on how you can keep your wealth growing by investing in cash flowing assets. Paul also shares his strategies for creating wealth and explains the difference between speculation and investing. He also talks about how you can vet sponsors by following the principles from Brian Burke’s book, Hands-Off Investors. Listen to this episode and hear Paul’s strategic plan to create wealth with cash-flowing assets!  For more ideas, you might want to visit on these podcasts: The One Thing Podcast   We Study Billionaires Podcast

Discover how decentralized technologies are shaping our future! Join Ben Jorgenson, visionary, CEO and founder of Constellation Network, as he explores blockchain, cryptocurrency, and the frontier of Web 3. Ben simplifies complex concepts like decentralized networks, smart contracts, and blockchain's application to challenges like deep-fakes and data governance. Whether new or experienced, gain insights into blockchain's disruptive potential across industries. About Ben Jorgenson Ben Jorgensen specializes in emerging technologies such as blockchain, cryptocurrency, and Web 3. Contracted by the US Department of Defense, Constellation Network is creating an ecosystem for developers to integrate applications with existing Web 2 infrastructure using blockchain technology.  Here are some power takeaways from today’s conversation: [04:05] Ben’s career background and how he found his way into blockchain [09:02] What is disruptive technology? [10:23] Understanding Web 3, blockchain, cryptocurrency, decentralized networking [17:33] Crypto technology and its potential uses [23:44] AI, data ownership, and governance [28:07] Blockchain's potential to validate AI and deep fake images [39:42] The potential of blockchain to simplify digital transactions and revolutionize the real estate industry  [45:08] Crypto regulations and fundraising with a crypto company owner Episode Highlights: [09:02] What is Disruptive Technology? Disruptive technology refers to anything that challenges societal norms and revolutionizes the way things are done. It breaks open established conventions, offering more efficient, cost-effective, and faster alternatives. Blockchain, for instance, has the potential to disrupt information exchange and validation, particularly in finance. Consider Bitcoin: do we really need multiple layers of institutions to send or receive money from one country to another, like from America to Amsterdam? It's about reimagining traditional processes and embracing innovative solutions that can reshape our world.  [10:23] Understanding Web 3, Blockchain, Cryptocurrency, and Decentralized Networking Web 3 encompasses various components, including metaverses - alternative digital worlds for immersive experiences - as recently highlighted by Facebook. Unlike traditional Web 2 technology, Web 3 introduces a more interactive and social aspect to online experiences. At its core is blockchain technology, enabling decentralized entities and transactions using cryptocurrency. This decentralized approach addresses concerns about data governance and control, offering the opportunity to reshape the socio-economic landscape and redefine information governance through Web 3. [39:42] Simplifying Digital Transactions and Revolutionizing The Real Estate Industry Through Blockchain Blockchain removes middlemen in digital transactions, automating processes through code-based trust. This enables seamless execution of contracts and title transfers, transforming the real estate industry. By streamlining the process and reducing human involvement, innovation in buying real estate and creating funds becomes immense. Embracing technology requires a broader perspective, recognizing its disruptive nature and the untapped potential of reducing intermediaries in real estate transactions. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Constellation Network Exponential Organizations by Salim Ismail Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Podcast Recommendations: How Things Work Podcast Advertising Partners: Tribevest Spartan Investment Group Rise48 Aspen Funds

Want to take a look into an alternative model for investing in commercial real estate? In this episode, we’re joined by Andy Sinclair, CEO and Principal of Midloch Investment Partners, to talk about their unique approach to investing in the Midwest market. Andy explains Midloch's strategy of partnering with local operators through joint ventures, co-GP positions, and preferred equity investments. Learn how they evaluate investment opportunities and vet potential operator partners, and how they find value-add opportunities.  About Andy Sinclair Andy Sinclair, CEO of Midloch Investment Partners, brings over 16 years of experience in commercial real estate. He focuses on Midwest investments, particularly in multifamily and industrial/warehouses through JV partnerships and preferred equity.  Here are some power takeaways from today’s conversation: [04:31] Andy’s journey to becoming an operator  [08:11] The difference between joint ventures, co-GP positions, and preferred equity investments [11:24] What is an anchor investor? [17:26] How LPs can benefit from Midloch [23:19] Midloch's contrarian approach in the smile states [39:44] Reacting to adversity: the true measure of an investor Episode Highlights: [08:11] The Difference Between Joint Ventures, Co-Gp Positions, and Preferred Equity Investments Joint venture (JV) equity: Midloch brings capital to the deal and acts as the anchor investor/majority shareholder. As a real estate operator, they also provide resources to help the property perform better. Co-GP investments: Similar to a JV where Midloch owns the majority stake, but they maintain sole voting rights and control over major decisions like an operator would. Preferred equity: A hybrid investment that is not fully equity or debt. Investors get a preferential dividend like interest payments and a capped annual return, usually around 15%. They are senior to common equity in terms of risk. This fills the "gap financing" need between senior debt and common equity. [11:24] What is an Anchor Investor? An anchor investor is the majority shareholder in a real estate deal, usually owning anywhere from 51% to 95% of the total equity investment. As the anchor investor, they provide the bulk of the capital for the project/property and take on more risk than smaller investors. They have significant control and voting rights over major decisions since they have the largest financial stake in the outcome of the investment. [17:26] How LPs can Benefit from Midloch Diversification - As LPs in Midloch's funds, they get a small pro rata slice of each deal, providing a diversified portfolio across property types, markets, and investment structures. Better deal terms - As the anchor investor on deals, Midloch is able to negotiate better terms like lower management fees, preferred returns, and promote splits than operators could get on their own. These benefits pass to LPs. Resources and governance - Midloch brings additional resources to deals beyond just capital, like relationships, expertise, and oversight/governance. This helps reduce risk for LPs. Stable returns - Midloch aims to produce stable, lower-risk returns through value-add strategies rather than relying solely on appreciation or high-risk moves. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Midloch Investment Partners Email: andy@midloch.com  Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Podcast Recommendations: Motley Fool Money The Walker Webcast Advertising Partners: Left Field Investors - BEC Tribevest Rise48 Aspen Funds GSP REI Spartan Investment Group Vyzer

Often new passive investors start with a shotgun approach when it comes to sponsors - invest with a lot of different sponsors at the minimum and you do your best to vet each one. That is how Travis Watts, the Director of Investor Relations at Ashcroft Capital, started his passive investing journey. Now that he has a stable of sponsors he knows, likes and trusts - he is investing larger amounts with fewer sponsors. Join Jim Pfeifer as he and Travis talk about investing strategies, sponsor selection, the importance of setting goals and paying attention to the most critical metric in the proforma, Net Operating Income. Tune in for great tips and tricks from a very experience passive investor! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us on this episode of the Passive Investing from Left Field podcast as we delve deep into the world of alternative wealth strategies with our special guest, MC Laubscher. Discover how to navigate beyond mainstream investments into unique niches like laundromats, fine whiskey, and even strategic metals. Learn from MC's vast experience on managing risk, diversifying portfolios, and generating passive income through innovative avenues. Whether you're an experienced investor or just starting out, this episode will open your eyes to new possibilities for building and securing your financial future. Don't miss out on this insightful journey into alternative investments and strategies that could redefine the way you think about wealth. Subscribe now and step into the world of alternative investing with confidence!   About M.C. Laubscher  M.C. Laubscher is a husband, father, business owner, investor, podcaster, and author.As one of the leading voices in alternative wealth strategies and alternative asset investing, M.C.’s passion -is helping business owners achieve more freedom and sovereignty and live and leave a legacy for their families.Having figured out how to escape the rat race and matrix by implementing alternative cash flow strategies and replacing his income through cashflow investing in alternative assets, he shares how business owners can do the same.M.C. is the creator & host of the top-rated business and investing podcasts Cashflow Ninja, Cashflow Investing Secrets, and Cashflow Ninja Banking.The Cashflow Ninja podcast has been featured by Entrepreneur Magazine as one of the top 48 podcasts for entrepreneurs and is regularly featured as one of the top 100 business podcasts by Apple Podcasts. It has been downloaded millions of times in over 180 countries.M.C. is a best-selling author and has written The 21 Best Cashflow Niches™, The 21 Most Unique Cashflow Niches™, The 21 Best Cash Growth Niches™ and Get Wealthy for Sure™.M.C. is a member of the Forbes Finance Council and The Million Dollar Round Table, a peer group for the top 1% of financial professionals in the world. He is regularly featured on business and investing podcasts and is a sought-after speaker at business and investing conferences.     Here are some power takeaways from today’s conversation: 2:51 His real estate journey 10:19 Alternative wealth strategies and assets 17:06 Wealth map 24:36 His 3 books 26:01 Cashflow niches 30:34 Unique cashflow niches35:25 Cash growth niches40:52 How to get his books?42:44 Can the niches be passive?45:19 Podcast recommendations   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Capital hacking: https://podcasts.apple.com/us/podcast/capital-hacking/id1453040812 Resources Mentioned: Contact the guest:LinkedIn: https://www.linkedin.com/in/mclaubscher/Website: https://accountableequity.com/education/m-c-laubscher/ Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/ Midloch:https://midloch.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Chad Ackerman is a senior consultant working for a major bank as well as one of the co-founders of Left Field Investors. He has been a major contributor to the development of all of the Infielder tools we have been developing this year and is working towards his goal of financial freedom. In this episode, Chad discusses how he got started in passive investing, using velocity of money to increase his returns and why he uses Tribevest for group investing. Chad talks about how he started in real estate with private lending and then started chasing the shiny object, as so many of us have.  He discusses how his networking with multiple groups has helped him on each step of his journey – including how networks helped him find focus in his investing strategy. Chad explains that using velocity of money in passive investing can be as successful a strategy as managing your own active real estate portfolio.  He gives an example of this when you get a refi 2-3 years into an investment - you still own the investment and you can go invest the returned capital in a new deal, effectively earning two returns with the same dollar. Chad talks about his decision to liquidate his old 401k and pay the taxes plus penalty so he could invest that money passively in real estate syndications. He explains how he expects that money to be recycled and grow so that he won’t need to add more capital in the future. Chad discusses his experience with group investing through Tribevest.  He says Tribevest increased his network, helped with diversification, and helped him learn to be a better investor.  He also talks about how to set up a tribe for success. Chad ends the podcast talking about his favorite metrics when analyzing a multifamily deal and how those metrics have changed as he has grown as an investor. Podcasts he recommends: Bigger Pockets   Real Estate Guys  Passive Wealth Strategy  To connect with Chad, you can email him at chad@leftfieldinvestors.com. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com.    Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.    Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Get ready for an electrifying ride in Part 2 of the Keynote Address from the Left Field 2023 Meetup! The audience comes in hot with burning questions, turning this episode into a rollercoaster of insights for savvy passive investors hungry for stability and growth.Jeremy Roll, a seasoned market observer, not only explores the current state of market investments and his strategies for the next decade but also shares invaluable advice on what LP investors should prioritize. Packed with wisdom, this episode is a must-listen for those seeking stability and growth, providing a roadmap to navigate the evolving investment landscape with confidence and strategic foresight. About Jeremy Roll  Jeremy started investing in real estate and businesses in 2002 and left the corporate world in 2007 to become a full-time passive cash flow investor. He is currently an investor in more than 60 opportunities across more than $1 Billion worth of real estate and business assets. As Founder and President of Roll Investment Group, Jeremy manages a group of over 1,500 investors who seek passive/managed cash-flowing investments in real estate and businesses. Jeremy is also the co-founder of For Investors By Investors (FIBI), a non-profit organization that was launched in 2007 to facilitate networking and learning among real estate investors in a strict no sales pitch environment. FIBI is now the largest group of public real estate investor meetings in California with over 30,000 members. Jeremy has an MBA from The Wharton School and is an Advisor for Realty Mogul, the largest real estate crowdfunding website in the US. Jeremy welcomes e-mails (jroll@rollinvestments.com) to network with or help other investors and to discuss real estate or business investments of any size. Here are some power takeaways from today’s conversation:  00:30 What to do when an operator isn’t cooperating? 02:56 The correlation of the quality of communication with the operator and the ROI 04:49 If you negotiate $25,000 off the investment and will the operator walk away? 06:30 How do you do background checks on operators? 09:38 What is the cost of a private investigator? 10:05 Do you need permission to perform background checks? 11:22 What is his biggest pull back when investing? 13:41 The impact of the fed on ATMs 14:47 How often do you meet with the operator in person before a deal? 16:11 Value add limited partner  18:21 How long does it take for him to evaluate a deal and how many deals does he have going on right now? 20:04 Mobile home park investing 23:26 Managing cashflow 25:02 Thank you for watching   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.     Resources Mentioned:  Email: jroll@rollinvestments.com Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Podcast Recommendations: Motley Fool Money The Walker Webcast Advertising Partners: Left Field Investors - BEC Tribevest Rise48 Aspen Funds GSP REI Spartan Investment Group Vyzer

It's the final week of our three-week Back-to-Basics program, and we're excited to bring you part two of our exclusive Masterclass on passive investing. In partnership with Tribevest and their Chief Storyteller, Julian McClurkin, we're here to share everything you need to know about building wealth through passive investing. Last week, we discussed the basics of passive investing, including what is a syndication, the pros and cons of passive syndications, and the crucial topic of how to choose a sponsor.  About Julian McClurkin Julian McClurkin has literally traveled the world throughout his professional basketball career supporting and entertaining families and communities. Leveraging his engagement and relationship-building skills, Julian now joins Vision Realty, having built a diverse portfolio in real estate sales, investing, and renovations.  Here are some power takeaways from today’s conversation: [07:11] The safest class to invest in [09:48] How to pick a syndicator [15:41] How to choose a deal you want to invest in [17:30] How to analyze a deal [23:28] The process of investing in a syndication [26:39] What to do during the syndication process [31:44] How tribes work and why they work [40:27] The process of forming a tribe Episode Highlights: [07:11] What is the Safest Class to Invest In? A common phrase you often hear is that everyone needs a place to live, right? So investing in multifamily apartments or mobile homes where there's always a demand for housing might seem like the safest option. However, it's important to remember that all of these are tangible assets, not just pieces of paper. Real estate and most of these assets generally carry less risk than other types of investments, but that doesn't mean there's no risk involved. For instance, resort investing, retail, and office space immediately after the pandemic may be riskier, while assisted living facilities may require waiting for demographic changes to make them profitable. It's crucial to conduct thorough research and invest in what you're comfortable with. Start there and then slowly branch out as you gain more knowledge and experience. [09:48] How to Pick a Syndicator When selecting a syndicator, it's crucial to align your investment strategy with the asset class you choose. If you're aiming for significant tax write-offs, investing in ATMs might be a good option, while others may not yield the same benefits. As you gain more knowledge and experience in the syndication space, you'll discover various asset classes that you didn't know about before, enabling you to select the right one for your current strategy. Always figure out what you're looking for and diversify your portfolio accordingly, but don't diversify for the sake of it. Ensure that you have a sound strategy in place for accumulating your assets and how they all work together to achieve your goals. [17:30] Metrics to Look For When Evaluating a Deal To analyze a deal, you need to ensure that you have the right sponsor, asset class, and market. These are the crucial aspects that can make or break an investment. At Left Field Investors, we've created a deal analyzer tool that considers 30 different metrics and turns green if the deal meets our parameters or red if it doesn't. Red flags don't necessarily mean you should avoid the deal, but they do generate questions that you should bring up with the sponsor. This is another way to assess their responsiveness and ability to provide detailed answers, which can indicate how well they will handle the investment. For example, if you get five red flags, contact the sponsor and ask questions. Pay attention to their response time and level of detail. A good sponsor will give you detailed answers and be responsive, which can help build trust and confidence in the deal. By focusing on the metrics of the deal analyzer and checking on the sponsor, you can effectively vet the deal and make an informed investment decision. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: https://www.tribevest.com/partners/lf 

Operating multifamily properties like a business can yield incredible results. In this episode, Ashley Wilson provides valuable insights into operating multifamily properties like a business rather than just as real estate assets. Her focus on controlling operations, renovating units quickly, and analyzing marketing strategies demonstrates how a business mindset can maximize returns. Ashley Wilson is the founder and CEO of Bar Down Investments, co-founder of Apartment Addicts, and co-founder of HouseItLook. She is a bestselling author, a regular contributor to Rent Magazine, and has been involved in over $210 million in multifamily transactions managing over 1,500 units. Here are some power takeaways from today’s conversation: [03:09] Ashley’s introduction to real estate [05:22] Why multifamily is the star of the show [08:47] Maximizing success through controlled factors [15:08] The importance of time and internal rate of return in investments [19:07] Why renovate as many units as possible [26:53] Unveiling the power of business fundamentals for success [31:41] The problem with rate caps and strike rates Episode Highlights: [05:22] The Resilience and Benefits of Multifamily Real Estate When it comes to real estate investing, multifamily properties undoubtedly take the spotlight. Not only because of their solid fundamentals, they’re also found to be the most recession-resistant asset class within the industry. Time and again, historical data have demonstrated their remarkable performance. The ability to exercise control over these assets is a key advantage that sets them apart. Additionally, they offer attractive tax benefits, which were previously a concern in the single-family space. Multifamily properties have consistently proven their resilience and have become a reliable investment option for the future. With their strong track record, advantageous fundamentals, and tax incentives, they shine as the true stars of the real estate market. [08:47] Maximizing Success through Controlled Factors In order to increase the likelihood of success, it is essential to have control over various aspects. While external factors like interest rates and cap rates may be beyond our control, there are numerous elements that we can influence. For instance, we can dictate the day-to-day operations of a property, manage our marketing efforts, maintain adequate reserves, allocate project spending, and determine the return on investment based on chosen renovations. However, achieving success in these areas requires meticulous attention to detail and the dedication of hardworking individuals. Effective communication and streamlined process flows are key components that fall within our realm of control. By focusing on these controllable factors, we can optimize our chances of achieving favorable outcomes. [26:53] Unveiling the Power of Business Fundamentals for Success This is because the fundamentals of the business remain consistent across different sectors. By focusing on these core principles, you will be astounded by the impact you can make. Keep honing those fundamental skills and watch your success soar. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Bar Down Investments Apartment Addicts HouseItLook Connect with Ashley Wilson on LinkedIn Instagram: @badashinvestor Podcast Recommendation: Drunk Real Estate Podcast

You can’t get rich overnight because it takes time to implement long-lasting strategies that lead to financial independence. The guest in today’s episode, Toby Mathis, founding partner of Anderson Advisors and author of Infinity Investing: How The Rich Get Richer And How You Can Do The Same, is a gifted storyteller and a clear-eyed researcher who spent years studying successful investors who built their wealth by creating a plan and sticking to it. Toby shares his build-wealth-slowly approach based on patient investing and money management practices to reach financial freedom. Most investors try to make money through activity, but most successful investors make money through inactivity. Tune in to hear Toby and Jim Pfeifer discuss these topics and much more in this episode on Passive Investing from Left Field Podcast! To see the full show notes and transcript, click here.

Do you want to invest but don't know where to start? Join us in this episode with our guest, Denis Shapiro, the Managing Partner at SIH Capital Group LLC, to gain valuable insights on where to start. Denis started investing in traditional stocks at 14. Unlike most investors who focus on specific investment assets, he still looks at both traditional and alternative investments. Now, he is helping people diversify their funds and investments through SIH Capital Group. Denis also wrote the book The Alternative Investment Almanac to share his insights into building wealth. Start building yours by listening to this episode!    To see the full show notes and transcript, click here.

Are you looking to diversify your portfolio beyond traditional stocks and bonds? Tune into the latest episode featuring real estate investor Bronson Hill. Bronson shares fascinating insights from his career transitioning from medical device sales to owning over $200M in multifamily units. He discusses alternative assets like ATMs, car washes, and oil/gas that can generate consistent cash flow. About Bronson Hill Bronson Hill is a multifaceted professional with expertise across various roles. As the managing member of Bronson Equity and general partner in 2,000 multifamily units valued at over $200 million, he excels in the real estate industry. He is also the host of the “Mailbox Money Show” podcast and author of How to Use Inflation to Your Advantage. Here are some power takeaways from today’s conversation: [04:13] Bronson’s journey from medical sales to real estate investing [09:59] The power of education  [11:32] The importance of creating multiple income streams [13:04] Using inflation to investors' advantage with real assets and debt [23:21] Different types of alternative investments [32:24] Vetting oil and gas investment partners [35:23] Due diligence for real estate investments Episode Highlights: [10:11] Breaking the Myth About Self-Made Millionaires and the Power of Learning A study by Fidelity Investments revealed that 88% of millionaires are self-made, challenging the belief that wealth is only inherited or reserved for the privileged few. Continuous learning is key to achieving financial success. Whether through education, career advancement, or entrepreneurship, lifelong learners have actively sought knowledge and expanded their skill sets to accumulate wealth. [13:05] The Impact of Economic Issues and Inflation on Asset Values Money in the bank loses value to inflation. Real estate and other cash-flowing assets are valuable during economic issues or inflation, as they hedge against inflation, appreciate, and generate passive income. Investors must consider these factors to avoid losses. Investing in real estate or tangible assets protects investments from economic trends, providing stability and steady rental income. It's an attractive option for investors seeking financial security.  [23:21] Different Types of Alternative Investments Real Estate - Bronson got his start in single-family homes before moving to multifamily apartments and syndication. Real estate can include commercial properties like storage units as well. ATMs - Bronson is invested in ATM machines through a fund, which provide very consistent monthly cash flow from transaction fees. Car Washes - This is a newer asset class that Bronson discussed, as large operators are consolidating the fragmented industry. Car washes have potential for cash flow and appreciation. Oil and Gas - While at higher risk, certain oil and gas deals like non-operated working interests can generate income through royalty payments and appreciation if operated efficiently. Precious Metals - Bronson stores physical gold and silver and can borrow against the value for liquidity needs at lower interest rates than typical loans. Private Lending - Providing loans to real estate developers and businesses can generate returns, though due diligence on borrowers is crucial. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned:  www.bronsonequity.com  Podcast Recommendations: Mailbox Money Show The Daily Audio Bible Advertising Partners: Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Tribevest Rise48 Aspen Funds Vyzer

There’s a fascinating world out there for self-storage in a changing market. In this episode, Jeremiah Boucher, the founder and CEO of Patriot Holdings, shares his insights on why self-storage will continue to be in demand, despite potential economic downturns. He emphasizes the importance of operational excellence, adapting to market conditions, and careful property management. He also offers a comprehensive guide for LPs (Limited Partners) to understand investments and assess opportunities in the real estate market.  About Jeremiah Boucher Jeremiah Boucher is the founder and CEO of Patriot Holdings and manages a $350 million portfolio of alternative commercial real estate assets with a focus on self-storage, manufactured housing, and industrial. He is also the author of Finding Your Edge: How to Win at the Game of Commercial Real Estate Investing. Here are some power takeaways from today’s conversation: [03:24] Jeremiah’s real estate journey [09:13] His transition from mobile home parks to self-storage [11:29] Self-storage investment in a changing market [18:01] A comprehensive guide for LPs  [20:31] What value add means in self-storage [26:39] Jeremiah’s criteria for choosing where to invest [34:57] Evaluating industrial real estate investments [38:30] Tips for vetting sponsors Episode Highlights: [11:29] Self-Storage Investment in a Changing Market​​ Jeremiah believes self-storage will continue to be in demand due to demographic trends and the need for space, despite potential economic downturns. However, investors need to be cautious about overpaying for self-storage assets. Jeremiah emphasizes the importance of operational excellence and adapting to changing market conditions. He also warns of market saturation and the need for careful property management. Additionally, while occupancy may grow, revenue might not as customers become more selective when choosing storage units. [18:44]  Key Considerations for LPs: Understanding Investments and Assessing Opportunities By considering these factors, LPs can gain a deeper understanding of their investments and make informed decisions that align with their goals. Communication and Quarterly Reports: LPs should prioritize open communication, including regular feedback and comprehensive quarterly reports that highlight key metrics. Operational Performance and Addressing Issues: LPs need to analyze how assets are performing and whether the company is actively addressing any challenges. Lack of distribution, for example, requires understanding the reasons behind it and the steps being taken to rectify the situation. Importance of Communication: Effective communication is critical for LPs to assess a team's ability to navigate difficult times. A history of transparent communication demonstrates the team's experience in overcoming challenges and ensures alignment with investors. Team Evaluation: LPs should not rely solely on one person's presentation skills but also seek to engage with other team members. A single-person operation increases vulnerability to personal circumstances that can impact investments. Value-Add Opportunities: LPs interested in value-add investments should focus on mismanaged assets. Typically, these assets require different capex. Additionally, prioritizing quality locations with good visibility and markets that have sufficient demand but limited supply is crucial. Barriers to Entry: Evaluating barriers to entry in the storage market helps determine the long-term viability of an investment. A market with limited supply per capita and obstacles for new entrants provides greater potential for success. [20:31] What Value Add Means in Self-Storage Value add refers to existing, mismanaged self-storage assets that typically have deferred capital expenditures. For a value add opportunity, the asset needs to have good quality "bones" like a decent existing storage business already in place that is conducive to tenants getting in and out easily. The highest value-add for his company is if an acquisition can get additional land on top of the existing storage, as this allows for expansion of the number of units once occupancy is high. Value-add involves making property improvements like lighting, fencing, paving, cameras, and signage to create a better product and command higher rents. But marketing is also important to fill the new units. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: www.patriotholdings.com   Jeremy’s book: Finding Your Edge: How to Win at the Game of Commercial Real Estate Investing  Advertising Partners: Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh Tribevest Rise48 Aspen Funds Vyzer

Kyle Collette joined me this week on the LFI Spotlight to share his journey into the passive investing world. He shared several good pieces of advice for other investors to utilize in their process. Listen in to see how he has navigated the active investing world and has migrated into the passive.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Ryan Stieg is a passive investor and a Co-Founder of Left Field.  He owns a portfolio of 1-3 unit properties in five different markets and more than 20 syndication investments in notes, mobile homes, life settlements, crypto, self-storage,  multi-family and more. In this episode, Ryan talks about how he realized single family homes are great investments, but difficult to scale which led him to develop a network to help him get into real estate syndications. Ryan talks about using mentors and networks to help validate his investing style and decisions and how being part of a Community has helped him become a better investor.  He realized that he can offset some of his weaknesses with the strengths of those in his network in the same way that he can share his strengths to help others. Ryan discusses the five different types of return he can get from active investing: cash flow, loan paydown, taxes, appreciation and the inflation erosion of debt. Ryan and I also talk about Tribevest and why we started a Tribe together as a way to diversify into different syndicators, markets and assets.  Ryan mentions that belonging to a Tribe and a Community has helped him find new deals and new sponsors and made him a better passive investor. Ryan talks about how accumulation of assets is less important than increasing the number of income streams – he accumulates assets that produce cash flow as a way of producing sustainable wealth.  He also discusses the importance of finding sponsors you know like, and who have a positive track record and systems in place to ensure their success is repeatable. Podcasts Ryan recommends:The Wealth Formula Podcast with Buck JoffreyReal Estate News for Investors with Kathy FettkeThe Brendon Show Click this link to connect with Ryan on LinkedIn. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Join host Jim Pfeifer and real estate developer Andrew Brewer as they explore the intricate world of real estate development. Discover the crucial steps, potential risks, and expert strategies for successful property development. Whether you're a seasoned investor or new to the field, this episode offers invaluable insights to help you navigate your investment journey with confidence. Tune in to learn how to assess projects, select the right partners, and manage development risks effectively.    About Andrew Brewer  Andrew is the Founder and Managing Partner of IronGall Investments, a real estate development firm based in Austin, and Distance 3 Development, a real estate investment firm based in San Antonio. As a developer and project sponsor Andrew has helped hundreds of busy professionals achieve time and financial freedom through passive real estate investments in markets across the US.He has experience in apartments, townhomes, single family home subdivisions, mobile home parks, RV parks, and office warehouse spaces. The value of projects sponsored by Irongall Investments and Distance 3 Development has a combined market value of hundreds of millions of dollars. Too often, we've seen working professionals miss far too many school plays and soccer games, and we've also seen individuals too busy to pursue their passion projects. Andrew wants to help as many people as possible to take control of their time and accumulate wealth through real estate so they won't have to miss any more significant occasions.Andrew has a varied background in real estate and has participated in projects as an owner, developer, operator, engineer, and consultant.As an operations engineer, Andrew implemented comprehensive building turnarounds of underperforming assets, resulting in enhanced operations, cheaper maintenance costs, and better resident experiences.  Here are some power takeaways from today’s conversation: 02:07 His background 05:25 What projects he has right now 10:39 How to vet an operator? 20:26 Questions for the deal  26:31 How the returns are structured 31:52 How the phases work 34:39 Podcast recommendations34:57 contact   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Podcast Recommendations:Best Ever Podcast: https://www.bestevercre.com/podcastBigger Pockets: https://www.biggerpockets.com/ Resources Mentioned: Contact the guest:LinkedIn https://www.linkedin.com/in/andrew-brewer-irongall-investments/  Advertising Partners: Vyzer:https://vyzer.co/ Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Tribevest: https://www.tribevest.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

Online businesses are a great investment, but many people haven't been able to cash in on this opportunity because they lack the time or expertise to manage an online business effectively. Through this episode, Jim Pfeifer welcomes his guest today to address that problem. Kyle Kuderewski, the Operations Manager at WebStreet, shares how investors can invest in online businesses with WebStreet. There are several monetizations or business types of online business, and one of the most popular is Amazon FBA, fulfilled by Amazon. Kyle also dives into what makes a business sell online. Tune in to this episode, and let's ride into the digital space to sell! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field. Love the show? Subscribe, rate, review & share! https://leftfieldinvestors.com/podcast/

In this episode, Andrew Cushman, founder and principal of Vantage Point Acquisitions shares his journey from engineering to house flipping to becoming a successful multifamily syndicator. Learn about lessons from his best and worst deals, strategies for navigating changing economic conditions like rising interest rates, and tips for evaluating investment opportunities. Listen in and gain insights on building a long-term real estate career from someone who has seen market cycles come and go! About Andrew Cushman Andrew Cushman is the founder and principal of Vantage Point Acquisitions, a real estate private equity firm specializing in multifamily apartments, particularly in the southeast region. After leaving his corporate position in 2007, Andrew ventured into real estate investment, initially focusing on flipping single-family properties in Southern California. Over time, he transitioned to multifamily acquisitions and has since syndicated and repositioned over 2,600 multifamily units. A former chemical engineer, Andrew brings a unique perspective to the real estate industry.  Here are some power takeaways from today’s conversation: [03:11] Andrew’s real estate investing journey [08:06] Practicing R&D in the real estate world [11:39] How he made the transition from engineering to flipping houses [13:39] The worst syndication he has done [20:56] Most common mistakes LP investors make [24:38] IRR vs. AAR [38:36] Fixed rate debt on the portfolio Episode Highlights: [08:06] Practicing R&D in the Real Estate World In the world of real estate, there's a beautiful concept called "rip off and duplicate," as Cameron Harold aptly puts it. In the corporate world, that's research and development; in real estate, it's rip-off and duplicate. Find somebody who's already successful at what you want to do, learn and copy what they do, and go execute.  This approach not only provides a blueprint for action but also instills the confidence to persist, knowing that proven methods are at hand.  [13:39] Lessons Learned From Buying C-Class Properties C-class properties may appear promising on paper, but their true nature often falls short in the real world. Recognizing this, Andrew coined the phrase "the grass is always greener over the septic tank" to highlight the deceptive allure of these properties and the lack of competition surrounding them. During a recession, rough C-class properties suffer the most, experiencing severe delinquency and plummeting value. For Adam, this was the worst deal he and his wife had ever done. Although the returns were not impressive, his experience taught him invaluable lessons, now more knowledgeable about what to do and what not to do. [20:56] Common Mistakes LP Investors Make Shopping deals solely based on projected IRR without considering the different levels of risk involved to achieve those returns. Higher returns do not always mean a better investment if they come with greater risk. Not understanding the relationship between risk and return Failing to evaluate deals based on multiple metrics like IRR, annual cash-on-cash return, equity multiple, and annual average return rather than just one metric. No single number tells the whole story. Viewing the relationship with the sponsor/general partner as adversarial rather than as a partnership. Investors need to ensure their interests are aligned with the experienced sponsors they are entrusting their capital for the holding period. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Vantage Point Acquisitions Podcast Recommendations: Macro Voices  Advertising Partners: Tribevest Aspen Funds Viking Capital Rise48

In this episode, Joe Williams, co-founder of Keller Williams, shares how KW became the largest real estate company in the U.S by flipping the traditional brokerage model to become agent-focused. Joe offers valuable lessons from his successful career, including timing the market and planning for success. He also discusses his current focus on land funds as an investment vehicle, leveraging Keller Williams' network to source deals. This episode provides a wealth of insights that can be applied beyond the real estate industry. About Joe Williams Although he is best known as the co-founder of Keller Williams Realty, Joe Williams was licensed at 19 and sold homes throughout his college years. Joe received his BBA in 1976 from the University of Texas in Real Estate, which at the time was a new degree program. He has over 43 years experience working with the local community and realtors. Joe, along with his team, has extensive experience in Residential & Commercial Brokerage, as well as Building & Residential Development. Here are some power takeaways from today’s conversation: [03:10] Starting his real estate career at age 19 and working his way up [11:28] The importance of having the right partners [13:28] Becoming agent-focused with their mission statement and profit share program [23:07] VDPR: The key elements for achieving success [27:35] Real estate is learnable [37:00] Lessons in real estate investing and the importance of timing the market [53:24] Joe’s current focus on land funds and future plans Episode Highlights: [23:07] VDPR: The Key Elements for Achieving Success VDPR stands for Vision, Discipline, Planning, and Results. The concept is that in order to achieve any goal, you must first have a clear vision of what you want to attain, and then acquire the discipline necessary to work towards that goal. This requires planning and organization, such as making lists and setting clear markers for progress. Ultimately, the results will follow as a direct outcome of the effort put in. Clarity of purpose and a focused mindset are key to achieving success, as Earl Nightingale famously said, "you will become what you think about." [27:35] Real Estate is Learnable Real estate values are primarily driven by public data such as supply and demand, job availability, city policies, growth patterns, schools, hospitals, and utility locations, which can all be researched and analyzed. This is what makes real estate an attractive investment vehicle - it's something that can be learned and understood. However, having an expert on your side who can interpret these variables is invaluable. Real estate professionals deal with these factors daily and are equipped to predict future value. In comparison to stocks, real estate is much easier to evaluate. [29:14] The Importance of Timing Timing is essential in real estate, outweighing even the significance of location. Market cycles, which are rarely linear due to human behavior, greatly impact supply and demand for multi-family properties. Joe states that there is no such thing as a bad market, only buyer's or seller's markets. Understanding your place in the cycle is crucial since waiting for the top can lead to missed opportunities. A wise investor once said, "I've always sold too soon," emphasizing the importance of being proactive. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: https://www.joewilliams.land/ Email: joe@joewilliams.land  Royal Legal Solutions www.spartan-investors.com 

This week’s episode features Nishant Shah. Nish is an accredited investor from the Chicago area. His W2 role is an anesthesiologist, but he is building his passive investing portfolio to give him flexibility down the road. He is looking to do some group investing with fellow physicians to help diversify his investments and minimize risk. Nish enjoys educating himself on the business through podcasts, books, and via a community like Left Field Investors.

You don’t need to have 100% knowledge to start investing. All you have to do is imperfect action. Enter Russ Morgan, the Wealth Without Wall Street’s Founder and Partner, famous as “The Idea Guy.” He talks about how you can take action by having a 40% to 70% knowledge range. Do more due diligence if you don’t know even 40% of what you need. Once you have enough knowledge, take imperfect action! Don’t be afraid of failure; they don’t exist. It’s either you learn a lesson, or you succeed. If you want more tips on how to succeed in your investments, tune in! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Investing of any form is never a walk in the park. But once you’ve learned the ropes and set the foundations for active investing, passive investments can be easier than you think. In this episode, Sam Wilson, the founder of Bricken Investment Group, shares his expertise on both aspects. Sam is an active investor currently focused on RV parks and RV and boat storage. With his years of real estate experience, Sam understands that the key success factor in passive investing is choosing the right team. He joins Jim Pfeifer to talk about his history of both active and passive investing. Listen in as Sam shares how he got involved and started deploying money into passive assets. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

How do you maximize your real estate investment returns from a tax perspective? Join today’s episode as Tomas Castelli discusses various tax strategies for passive real estate investors. Passive losses can offset both earned and passive income, while proper depreciation strategies upfront can generate larger tax losses. Listen in as Tomas explains the three main tax buckets, the concept of bonus depreciation, and why Lazy 1031 is the way to go for passive investors. Tomas Castelli Tomas Castelli is a CPA and tax strategist at The Real Estate CPA. He helps real estate investors minimize their tax burden and maximize their returns. He has equity positions in several real estate syndications and funds. Tomas is the co-host of the Tax Smart REI podcast and an active member of the Left Field Investors community. With his expertise in tax strategies for passive investors, Tomas advises investors on how to make the most of their investments from a tax perspective. Here are some power takeaways from today’s conversation: [00:00] Three tax buckets: earned income, portfolio income, passive income [06:43] Passive losses can offset earned and passive income [11:26] Cost segregation studies break property into components with different depreciation schedules [14:21] Rapidly depreciating assets in the first year through bonus depreciation [17:44] Depreciation recapture taxes the depreciation amount when you sell the asset [26:06] How Lazy 1031 exchange uses passive losses from new investments to offset gains from sold investments [31:00] Claiming rental losses against earned income through a real estate professional status [41:18] Are travel expenses to conferences and properties deductible for passive investors? [44:36] Check your capital account and box 2 (passive income/loss) on your K-1 for accuracy Episode Highlights: [06:43] The Three Tax Buckets The three main tax buckets are: 1. Earned income - This includes income from employment like salaries, wages, commissions, bonuses, and self-employment income. Earned income is taxed at higher rates up to 37% for federal income tax. It is difficult to offset or reduce taxes on earned income. 2. Portfolio income - This includes income from investments like interest, dividends, capital gains from stocks, bonds, and mutual funds. Losses from investments in this bucket can only offset gains within the same bucket. 3. Passive income - This includes income from passive activities like real estate rentals and limited partnership investments. Losses from passive activities can offset both passive income and earned income. This provides more flexibility and opportunities to reduce taxes. [26:06] The Lazy 1031 Exchange  The "lazy 1031 exchange" is a tax strategy where passive losses from new investments are used to offset capital gains from sold investments, without a formal 1031 exchange. By investing in a new passive opportunity after selling an investment for a gain, depreciation, and losses from the new investment can be used to minimize taxes owed. This provides more flexibility than a formal 1031 exchange and requires a pipeline of passive investments generating losses to offset gains from sold investments. [34:54] Maximizing Depreciation with Bonus Depreciation With bonus depreciation, most of the five, seven, and 15-year property is frontloaded in the first year. Without it, assets depreciate over several years which results in lesser benefits if the asset is held for a shorter period like three years. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: Tax Smart REI Podcast Podcast Recommendation: Acquisitions Anonymous Podcast

Alex Breshears is a private money lender, syndication investor, community builder, military spouse and much more. She started a private lending company, Infinite Road Investments, funding first and second position loans on residential property and runs a Facebook Group called Private Lending Lessons. She is also the Fund Investor Relations Manager for Mission First Capital – a company dedicated to providing real estate investment opportunities to active duty and veteran military personnel. In this episode, Alex talks about her journey into private lending and the group she started to help others become private lenders and passive investors. Alex discusses some of the mistakes new investors make in not analyzing their desired lifestyle and current skillset which makes it difficult to find investments that match their desires and skills.  She also talks about how networking led her to private lending and has continued to help her along the way.  Alex mentions that early in her career she saw that borrowers have to always pay the mortgage lenders and realized being in the private lending business was a great way to create passive income.  She used her skills to create the lifestyle desired as she knew she wanted to be in real estate, but she did not want to be a landlord or a flipper. Alex describes the difference between private lending and hard money lending. Private lending is borrowing capital directly from the person in control of the funds and making the decisions and hard money is usually backed by a financial institution with strict guidelines and policies when making loans. She also talks about how private lending is very relationship focused and most lenders work in only one or two markets that are familiar to them. Alex talks about the need to find an attorney who knows private lending and she talks about the typical terms and rates used by private lenders. Alex discusses her desire to get more women involved in syndication and private lending and helping the reduce the obstacles women face financially that sometimes inhibits their ability to become passive investors. Alex talks about her work with Mission First Capital which is a investment fund operated by military veterans that allows investors to access syndications with a minimum investment amount of $5000. Podcasts Alex recommends: Cash Flow Ninja Capital Hacking Multifamily Real Estate Experiment Podcast To connect with Alex, go to Private Lending Lessons on Facebook or contact her on LinkedIn or at Mission First Capital. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Money is a tool and a resource, so it is important you understand how to use it properly. Too many people think of money as the final goal, but a better mindset is to think of how to use that tool or resource to achieve your goals. Join Julie Holly as she discusses with Jim Pfeifer her money mindset and how to adjust your thinking so money is the tool you use rather than it using you. Julie is the founder of Three Keys Investment and host of the Conscious Investor Podcast. She’s a former public-school teacher and is now a passive investor in both general and limited partnerships! Tune in to learn valuable insights from someone who sits on both sides of the table as an operator and an investor!  To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

In this episode of the “Passive Investing from Left Field” podcast, we have the pleasure of speaking with Matt Faircloth, a successful full-time investor with over 15 years of experience in the industry. Join us as we delve into Matt's expertise in raising private capital and building a successful real estate empire. About Matt Faircloth Matt has completed a variety of projects, including fix-and-flips, office buildings, single-family homes, and apartment buildings, amassing a portfolio of over 1,000 units. He has also raised tens of millions of equity for these real estate projects in both debt and equity positions from passive investors. As an Amazon best-seller with over 50,000 copies sold, Matt is the author of "Raising Private Capital: How to Build Your Real Estate Empire with Other People's Money," published by BiggerPockets publishing. Here are some power takeaways from today’s conversation: [04:00] Figuring out your investment goals  and getting clear on your 'why'  [09:00] Things to consider when looking for deals [16:00] Deals with amortizing loans vs. interest-only loans [18:00] How to calculate the IRR [21:35] Why HUD is the redheaded stepchild [28:17] Leveraging local resources [32:05] The concept of entropy Episode Highlights: [04:00] The Importance of Clarity in Passive Investing When it comes to passive investing, simply googling and blindly throwing money at the first company that pops up in your search is not a wise strategy. Instead, take the time to do your research and get clear about what you want to achieve through your investment journey. Consider your long-term goals, such as generating enough passive income to quit your job or building your net worth, and whether you enjoy your current job or not. While Wall Street can be tempting, it's important to recognize that it shouldn't be your only means of financial freedom. By gaining clarity and doing your due diligence, you can make informed decisions and set yourself up for success in the world of passive investing. [09:31] Maximizing Wealth through Strategic Passive Investing  To succeed in passive investing, it's crucial to have clear investment goals. Consider factors such as appreciation growth, cash flow, and tax leverage before choosing an asset class like oil and gas or multifamily real estate. Without a clear understanding of your objectives, it's easy to make the wrong investment and miss out on long-term wealth-building opportunities.  [15:57] Maximizing Your Return on Investment: Understanding IRR Components Understanding IRR components is crucial in passive investing. While appreciation, cash flow, and return of capital are important, it's essential to scrutinize projected profit-sharing percentages and differentiate between controllable and uncontrollable factors. Operators can control operational thesis and business plans that govern cash flow, but they can't control future market demand or cap rates. Thoroughly assessing investment opportunities and operator strategies can help maximize return on investment. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned: BiggerPockets Raising Private Capital: How to Build Your Real Estate Empire with Other People's Money Passive Investing from the Left Field Podcast Episode 38  Podcast Recommendations: The Ed Mylett Show The Joe Rogan Experience

This week’s episode features a spotlight on Tribevest, another one of LFI’s Preferred Partners. Tribevest is a collaborative, group investment platform that enables friends and family to organize as an investor group, pool money, and manage joint investments.   Brittany Barchalk, Head of Marketing,at Tribevest, joined us to talk about the company and how they have been assisting Limited Partner Investors build wealth since 2018. She also shares a bit of her personal wealth building journey as she has taken her first steps in the passive investing industry.   Brittany also shared exciting developments that Tribevest is planning to roll out in 2023 including a mobile app, the Open Tribe concept, and more.   If you would like to connect with Brittany or anyone else at Tribevest, you can go on to their website at https://www.tribevest.com/.

Brian Burke is the President & CEO of Praxis Capital and the author of The Hands-Off Investor.  He has been investing in real estate for 30 years and has been a multi-family syndicator for 19 years. Brian has purchased over $500 million in real estate and raised over $200 million from investors and has never lost a penny of investor capital.  In this episode Brian talks about funds versus single asset investing, how to evaluate a sponsor and market and some red flags to look for when evaluating a deal. Brian talks about why they have recently shifted to a fund model rather than a single asset syndication.  He also discusses the importance of vetting the sponsor by asking them questions like, how long they have been a sponsor, how many deals have the invested in, how many exits they have had and how their past returns have compared to projections.  He talks about the importance and challenges in trying to ascertain the content of the sponsor's character. Brian recommends that you do your research including when you hear the sponsor on a podcast or at an event – that you listen to what they are saying and determine if it makes sense. Brian also talks about how he picks markets. He invests in markets that people are moving to and that have income growth and job growth which results in rent growth. He also talks about some red flags to look for when evaluating multi-family syndications; including debt, default ratio and rent growth. Podcast he recommends:Bigger Pockets To connect with Brian go to www.praxcap.com and accredited investors can go to www.investwithpraxis.com.  Brian can also be found on the Bigger Pockets forum and on Instagram @investorbrianburke. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.  Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Whitney is a real estate investor and personal finance trainer working to help others on their path towards financial independence. She is the founder of ASH Wealth and the Investor Accelerator Program which helps investors develop a plan to reach their real estate and financial goals. Today, Whitney is a partner in $700M+ of real estate assets, including 5,000+ residential units (SFR, MF, MHP, and assisted living) and 1,430+ self-storage units. She has been a guest on multiple podcasts, including Bigger Pockets Episode #340. In this episode, Whitney discusses managing your investments like a business, the five wealth centers of real estate and recycling money with velocity to grow your business. Whitney talks about the importance of the equity build and accumulation phase to build capital. For those starting out with a small amount of money, she recommends starting with single family homes, but if you have significant capital to start, you can leverage other people’s expertise and invest in other their deals through syndications. Whitney discusses the wealth centers of real estate – cash flow, leverage, tenant paydown, inflation reducing the debt, depreciation and tax benefits of real estate. She also talks about the BRRR (buy, rehab, rent, refinance, repeat) method vs turnkey investing and relates it to return on time.  She talks about an investor’s need for capital, time or hustle and depending on which of those you have, that can guide the investing strategy you choose. Whitney mentions the importance of treating your passive investing as a business that you are building and talks about the benefits of qualifying for the real estate professional status. Whitney discusses the 1031 exchange compared to the “Lazy 1031” and some of the challenges of the standard 1031 as it can force you into a transaction that might not fit your overall business strategy. Whitney talks about velocity of money, which means putting cash flow back into the business to produce more cash flow to grow your business at an exponential rate. Whitney discusses the evaluation of a sponsor and some of the red flags she looks for when vetting a sponsor as well as some deal metrics that are critical to her in evaluation of a deal. Podcast she recommends: Get Rich Education To connect with Whitney you can email her at  ashwealthco@gmail.com or go to www.ashwealth.com.  If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Short-term rentals are an asset class many passive investors have not yet invested in. This emerging asset class presents unique opportunities, deal structures, and deal structures. Join Jim Pfeifer as he talks to serial entrepreneur, real estate developer, and experiential hospitality expert Richard Fertig about the asset class everyone is talking about, but few are investing in: short-term rentals. Richard is the Founder of Stomp Capital LLC and Short Term Rental University. Listen in as Richard talks about learning how to look for the best alternative assets, staying away from the crowded trades, and having the mindset that missing out is okay, but losing money is not. He explains how obstacles can be opportunities and by going through them, you can often maximize your success. Discover the short-term rentals asset class today!  To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

It’s refreshing to see how more organizations are set on generating wealth to give back to society. One of these companies with a mission to fulfill a greater purpose is the Legacy Group. Directed by one of its leaders, Josh Ziegelbaum, the Legacy Group generates value by catering to clients who invest in projects that produce favorable returns and have a positive social and environmental impact on all relevant stakeholders. Josh joins Jim Pfeifer and Left Field Investors to share his goal of targeting profitable investment opportunities for the benefit of everyone in society. Listen in as Josh explains how he and his team leverage the power of capitalism and business creation to serve others as a force for the greater good. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Chris Odegard is The Prolific Investor.  Chris worked in corporate America for over 30 years before going full time in alternative investments.  His goal to help improve the financial lives of Americans one blog article at a time through his Prolific Investor blog.  In this episode, Chris talks about how alternative investments allowed him to recover quickly from a massive “illiquidity event”, his Hierarchy of Investors and how alternative investments outperform traditional investments. Chris talks about how he was a conventional investor most of his life until he found real estate and passive investing.  He mentions that his goal is to help people achieve financial freedom so that work is a choice, rather than a necessity. Chris likes multifamily apartments right now because of the undersupply of affordable housing.  He also recommends that everyone swing for the fences in asymmetric return bets with small percentage of your portfolio. He mentioned Palm Beach Research for help in finding some of these potential opportunities. Chris talks about some of the tax law changes for disregarded entities and how those entities are treated and the importance of a quality tax advisor. Chris discusses his Hierarchy of Investors and the importance of insurability and leverage in his investment philosophy.  He compares actual stock market returns to the returns from alternative investment including the tax benefits that really make a difference.  He includes an example of alternative investments compared to a 401k for young investors and explains how leverage and tax treatment of alternative investments can vastly outperform a 401k even with an employer match. Click these links to get access to the Hierarchy of Investments and the 401k vs SFH Rental resources from The Prolific Investor website. Podcast Chris Recommends:Real Estate Guys Radio Show Rich Dad Radio Show The WealthAbility Show Passive Investing from Left Field To connect with Chris go to theprolificinvestor.net to schedule a 30 minute virtual coffee. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.   Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

Often, when people are working in lucrative occupations, they have a lot of income coming in, but they do not have control of their time, their income, or their life. That is how today’s guest, Peter Kim felt when he was working full time as a doctor. He saw examples of other successful professionals who had bought back their time through multiple income streams and he decided to learn from them. Today’s episode features physician, entrepreneur, investor, and founder & CEO of Passive Income MD, Peter Kim as he and Jim Pfeifer discuss how you can use multiple income streams to gain control of your life and earn back your time. Peter also talks about the benefits of having the right network and community to find quality operators and mitigate the risks of investing in passive real estate. Tune in to learn more about balancing your time practicing your profession on your terms while enjoying the financial freedom and security you get from passive income streams.

This week’s episode features a spotlight on Tribevest, one of LFI’s Preferred Partners. Tribevest is a collaborative, group investment platform that enables friends and family to organize as an investor group, pool money, and manage joint investments.   Brittany Barchalk, the Head of Marketing at Tribevest, joined us to talk about enhancements they’ve developed with their product this year.    First, the Open Tribe concept was rolled out earlier this year which allows for a Tribe to be formed by the community but managed by the team at Tribevest instead of one of the community members. This is a great asset so that all the participants in the Tribe can remain passive as it pertains to the Tribe itself. Additionally, Brittany shares the roll out of a new product the Tribevest Wallet. This allows for much easier fund transfers for those that are in multiple Tribes and should reduce the number of wires needed with investment through those Tribes. Lastly, Brittany mentioned a new enhancement that will be coming to the community soon called Pro-Tribe. More details to come on this as the development finalizes.   If you would like to connect with Brittany, you can reach her at brittany@tribevest.com or you can find anyone on the team at their website https://www.tribevest.com/.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us on this enlightening episode of "Passive Investing from Left Field" as our host Jim Peifer sits down with the renowned economist, Professor Peter Linneman. With decades of experience and wisdom, Peter shares his unique insights on the current economic climate, including the real impact of interest rates, the truths behind inflation rates, and the resilience of the U.S. economy. Whether you're an investor, an economist, or just curious about the future of the economy, this episode offers valuable perspectives on navigating economic uncertainty and seizing opportunities in the market. Don't miss Peter's expert analysis and predictions for what lies ahead. Tune in now!   About Dr. Peter Linneman  Dr. Peter Linneman holds both master’s and doctorate degrees in economics from the University of Chicago. He is the principal of Linneman Associates. For nearly four decades, he has provided strategic and financial advice to leading corporations through Linneman Associates. He provides M&A, analysis, market studies, feasibility analysis to many leading US international companies. In addition, he serves as an advisor to and a board member of several public and private companies. Peter was a professor of real estate at the Wharton School of Business at the University of Pennsylvania, from 1979 until his retirement in 2011. He’s an accomplished author having written books, articles, and of course, The Linneman Letter, a quarterly letter for commercial real estate investors.    Here are some power takeaways from today’s conversation: 02:27 His real estate journey 06:22 Do the fed believe they need to create a recession? 10:33 Why the fed looks at the CPI and PCE  17:32 What’s next? 19:41 The cause of inflation 24:26 Are economic cycles gone? 29:22 Unemployment  33:31 Is the fed trying to push for the 5% unemployment? 35:11 Standard economic measures are up, but the Economy is seen as down - why? 39:03 Contact Peter   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: LinkedIn: https://www.linkedin.com/in/peterlinneman/Website: https://www.linnemanassociates.com/peter-linneman  Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/ Midloch:https://midloch.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/

For today's Spotlight I had the pleasure of discussing value add vs turnaround investing with Josh McCallen from Accountable Equity. Josh talked about his approach to the resort business syndication space and how their model differs from the normal multifamily flips.   If you enjoyed the podcast and would like to subscribe to our mailers, please use this link to get on our mailing list: https://leftfieldinvestors.com/subscribe/. To see the full show notes and transcript, click here.  Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Sean Donnelly is Managing Director at a reinsurance company and is one of the founders of Left Field Investors.  Sean has been a “right fielder” for most of his investing career, but found passive investing and is solidly in center field now through his new investments in passive syndications combined with his continued investments in the stock market and paper assets. In this episode, Sean talks about how he got into passive investing, the importance of a network in helping build your investing confidence and how the consistent returns of passive investing can be more attractive than the lumpy returns of active investing. Sean discusses how his real estate journey started with an underperforming flip and progressed through owning rentals and now is focused on passive real estate syndications. He also talks about the Founding of Left Field Investors and how it is helpful having a network for finding sponsors and vetting sponsors.  He mentions the importance of investing with sponsors that you know, like and trust and how critical that is to successful investing in syndications. Sean discusses some of his favorite asset classes – some he has already invested in and others that he has his eyes on – as well as how passive income will support and enhance his retirement. Podcasts Sean recommends:The Way I Heard It with Mike RoweTED Radio HourWe Study Billionaires You can connect with Sean on LinkedIn or you can find him on the Left Field Investors Infielder’s Forum. If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors' Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us on the latest episode of Passive Investing from Left Field, with guest Ron Lockhart. In this episode, discover invaluable insights into successful strategies for limited partners, the impressive benefits of affordable and workforce housing, and the high-return potential of real estate syndication. Whether you're an accredited investor or simply looking to learn more about the commercial real estate market, this episode is your ticket to staying informed.   About Ron Lockhart  Ron Lockhart is the Co-Founder of GSP REI and serves as one of the Company's Managing Partners. His chief responsibilities include strategic planning and oversight of the company’s vision. Mr. Lockhart oversees and works to streamline the company’s operations in both real property and mortgage acquisitions, as well as project and property management.Mr. Lockhart brings over 20 years of combined real estate investing experience to the company. Prior to founding GSP REI, Mr. Lockhart was President of LaSalle Properties One a regional real estate consulting firm that focused on assisting companies and institutions with the execution of their real estate acquisition, development, management and finance goals. While at LaSalle Properties One, Mr. Lockhart developed an end to end in house solution for clients that included planning, construction, asset and property management. One of LaSalle Properties One’s key initiatives was to invest alongside its clients in growth areas where there was an under supply of rental housing. Prior to LaSalle Properties One, Mr. Lockhart founded Lockhart Building and Investment Company which specialized in the construction and redevelopment of real estate in the Mid-Atlantic region. Mr. Lockhart has been directly involved with the investment, development and construction of single family, multifamily and mixed use real estate since graduating from Washington College in 1996.      Here are some power takeaways from today’s conversation: 03:28 His real estate journey 08:39 Affordable housing vs workforce housing 10:03 Section 8 13:38 How he invests in certain markets 16:44 Finding properties 25:16 Are there any other government subsidies that help 25:55 How does he structure property management 28:26 Is there a problem with the owners of the adjoining properties 29:42 Using debt to fund the properties 33:00 How to analyze this as an LP 36:07 Funds overview 38:35 Podcast recommendations   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Contact The Guest: LinkedIn - https://www.linkedin.com/company/gsprei/ Facebook - https://www.facebook.com/GSPREIFUNDS YouTube - https://www.youtube.com/channel/UCoqbrxOgNuhgzS58qia3Uaw Podcast Recommendations: Real estate syndication show - https://www.youtube.com/c/TheRealEstateSyndicationShow Advertising Partners: Tribevest - https://www.tribevest.com/ Rise48 - https://rise48.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suh: https://www.leftfieldinvestors.com/books/ Vyzer - https://vyzer.co/

When it comes to passive real estate investing, learning from the mistakes of others can save you time, money, and frustration. By avoiding common rookie errors, you can increase your chances of success in passive investing and syndication. In this episode, Steve Suh shares valuable lessons he has learned from over 14 years of passive real estate syndication investing. In this podcast, he discusses some of the mistakes he made early on and key things all passive investors should focus on, such as networking, vetting sponsors and operators, and paying attention to capital stacks and debt structures. Steve also introduces his upcoming ebook, which goes into further detail on each lesson. This is a must-listen for both new and experienced passive real estate investors! About Steve Suh Steve Suh is a founding member of Left Field Investors and has been passively investing in real estate syndications for over 14 years. He is a practicing ophthalmologist and eye surgeon in Southern California. In his spare time, he enjoys writing educational blogs for leftfieldinvestors.com and creating content to help other passive investors learn from his extensive experience. His upcoming ebook, 20 Valuable Lessons Learned from 14 Years of Passive Syndication Investing, aims to share the lessons he has learned over the years to help passive investors avoid common mistakes. Link to Steve's Book: Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications Here are some power takeaways from today’s conversation: [03:23] Learning from people’s mistakes [06:53] The importance of networking [12:16] The operator as a keystone of every operation Episode Highlights: [06:53] Network, Network, Network Steve's insights emphasize the importance of networking in money management and investing. Through virtual networking sessions and forums, he has gained valuable knowledge from others, allowing him to connect with like-minded individuals and explore diverse investment opportunities. Steve highlights the value of private forums, where he can interact with fellow investors and access a wealth of information, enabling informed decision-making and reducing the need for trial and error. Networking is especially crucial in passive investing, helping investors distinguish between good and bad syndicators. Steve's positive experience at the 2022 Meetup in the Left Field further highlights the energy and collaborative environment that networking creates. In summary, Steve's insights underscore how networking empowers individuals to learn, access valuable information, and connect with professionals in the field, ultimately enhancing their chances of success in passive investing. [12:16] The Operator is a Keystone of Every Syndication Steve compares the operator to a central principle or part on which all else depends, similar to a keystone in an archway. The operator is the one who runs the show in terms of the asset, such as the placement and management of ATMs. While there may be capital raisers and syndicators involved, it is the operator who handles the day-to-day operations. Steve emphasizes the importance of thoroughly vetting not only the sponsor but also the property management team. Understanding who is actually running the show and speaking directly with the operator or property manager ensures that investors are not deceived by just the sponsor or syndicator's claims. By delving into the granular details and gathering feedback from other sponsors, investors can make informed decisions about the operator's capabilities and performance. [15:32] Pay Attention to the Capital Stack and the Debt Structure Steve acknowledges the challenges faced by syndicators due to rising interest rates, particularly with bridge debt. Many syndicators got caught up in value-add deals with variable rate loans, leading to capital calls and foreclosed apartment complexes. This is usually due to complacency and not fully considering the potential impact of rising interest rates. Therefore, Steve emphasizes the need to carefully assess the debt structure and its potential vulnerability to interest rate fluctuations to mitigate risks in future investments. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting. Resources Mentioned:Link to Steve's Book: Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications Link to Steve’s blog: https://www.leftfieldinvestors.com/13-lessons-learned-from-13-years-of-private-syndication-investing/

A self-directed IRA (SDIRA) gives you more control over your investments than a standard IRA and can help you diversify your investments within your retirement account. It allows you to invest in what you know best instead of forcing you to choose from a limited set of options determined by your IRA provider. Today’s guest, Juan Deshon, is an IRA specialist at Quest Trust Company is a self-described, certified nerd when it comes to IRA accounts. Juan explains the critical difference between a self-directed IRA and a solo 401(k), why you might need a custodian for your IRA, and how to find one that suits your needs. Join in to learn more about how you can make the most out of your retirement funds through a self-directed IRA! To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

This week’s episode features Tyson Miller. Tyson is a full-time passive investor that started out in the IT Consulting space. Tyson has been focusing on diversifying his portfolio with both Left and Right Field investments focusing on multiple asset classes on the passive side. He plans to look outside of the popular asset classes over the next few years to expand his knowledge of the market. To see the full show notes and transcript, click here. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know, like, and trust. Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investors’ Community. Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.

Join us on the latest episode of Passive Investing from Left Field, featuring industrial real estate syndicator Joel Friedland. With over 40 years of experience, Joel shares his insights on the significance of due diligence and how understanding tenants and real estate taxes is crucial to the success of real estate deals. Discover why their company opts for all-cash deals with no debt and learn about the priorities set for tenant selection to ensure stability and security. Gain knowledge on how important neighboring businesses can impact your property's value as Joel walks us through the responsibilities of landlords for building maintenance and insurance. Dive into this informative session that sheds light on the appeal of industrial real estate for pension funds and the unique investment approach adopted by Joel Friedland. Don't miss out on this enlightening conversation that will change the way you think about industrial investing.   About Joel Friedland  Joel Friedland is an industrial real estate syndicator with over 40 years of experience and nearly 100 acquisitions in the Chicagoland area totaling ~3 million sq ft. He has north of 200 investors and has a unique philosophy when it comes to debt ratios and preservation of capital. Day to day, he manages his portfolio of 16 industrial buildings in Chicago and is actively seeking new deals and partners to join our group.     Here are some power takeaways from today’s conversation: 01:47 His real estate journey 06:25 Transitioning from being a broker 11:02 Did he branch out and come back to Chicago? 13:31 How he deals with concentration of risk as a company? 16:53 What he is responsible for vs what his tenant is responsible for. 18:26 Pros and cons of doing deals with no debt 23:53 Tenant selection 27:40 The biggest risks when investing in industrial real estate 33:33 How does an LP vet his company? 38:05 Metrics that LP investors can focus on when evaluating one of his deals 39:56 His exit plan 45:00 How does you come to an agreement on price 47:04 Podcast recommendation 47:51 Contact 48:30 Thank you for watching   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: Podcast Recommendations: Thoughtful Money https://www.youtube.com/@adam.taggart Advertising Partners: Rise48 https://rise48.com/ Rust Belt Capital https://rustbeltcapital.com/ Left Field Investors - BEC https://www.leftfieldinvestors.com/bec/ Spartan Investment Group https://spartan-investors.com/ Left Field Investors - BEC https://www.leftfieldinvestors.com/bec/

This week’s episode features Greg Baxter. Greg began his real estate investing journey by group investing with college friends. Eventually, he progressed into investing on his own in multi-family properties, self-storage, and mobile home parks. Today, Greg shares how he’s focusing on staying on his path to not chasing shiny objects. He also talks about his anticipation of investing in more multi-family deals in the near future with the potential of looking at becoming a General Partner himself at some point. 

Join us on this exciting episode of the Passive Investing from Leftfield podcast as we dive deep into the world of multifamily investing with James Eng, the professor of Multifamily Financing. Discover the latest trends, strategies, and insights into the future of real estate investment. Whether you're a seasoned investor or just starting out, this episode is packed with valuable information to help you navigate the ever-evolving real estate market. Don't miss out on expert advice and strategies for building wealth through smart investing. Tune in now!   About James Eng  James Eng has over 18 years of experience in commercial real estate lending, starting his career as an underwriter at GE Capital Real Estate prior to joining Old Capital in 2015 where he is currently the National Director.He has worked with hundreds of investors to help them acquire over $1.5BN in multifamily properties totaling over 20,000 units nationwide. In addition to financing multifamily, he has invested in over 10,000 units as a limited partner in nearly 40 properties in Texas.James combines his finance, risk, and investor background to find the best loan for clients and to be an indispensable advisor throughout the life cycle of a deal. Often called “The Professor” of Multifamily Financing, he has produced hundreds of hours of educational multifamily content on YouTube.He received his finance degree from the University of Texas at Austin and resides in Dallas-Fort Worth with his wife and three boys.     Here are some power takeaways from today’s conversation: 2:11  His real estate journey 6:27 Investing in one market 8:07 Multifamily financing today 15:00 Should you refi in 2024? 17:31 How interest rates will affect the rate caps 21:05 Deal advice for LPs 27:38 Tax implications of early sale on LPs' depreciation29:01 Q&A: preferred equity? 33:36 Q&A: distressed sellers in 2024 35:16 Will lenders be in trouble in 2024? 40:25 Outlook for LPs with recent floating rate debt investments 43:08 Will new apartments accelerate distressed deals in 2024? 44:52 Strategies to protect yourself against decreased cashflow in a market when you depend on it for income 48:20 Q&A: what he would have done differently in insight with distressed deals  52:22 Podcast recommendation 53:49 Contact James 54:35 Thanks for watching   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Resources Mentioned: LinkedInhttps://www.linkedin.com/in/jamesengYouTubehttps://www.youtube.com/channel/UC4NRATcTMmkodJ_CEP9MRWQ  Podcast Recommendations: The Woj Pod: https://podcasts.apple.com/us/podcast/nuggets-coach-michael-malone/id1470466331?i=1000600562916The Rebel Capitalist Show: https://podcasts.apple.com/mt/podcast/the-rebel-capitalist-show/id1492584441Ken McElroy Real Estate Strategies: https://podcasts.apple.com/us/podcast/ken-mcelroy-real-estate-strategies/id1465180254  Advertising Partners: Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Left Field Investors - BEChttps://www.leftfieldinvestors.com/bec/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/ Circuit Cityinvest.circuitcity.com