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Colorado Springs Real Estate Investing Podcast#105: Fix and Flips vs Long Term Rental: Landlord Shares His Biggest MistakesToday, I’m talking to Colorado investor Rick Staael, who owns properties along the Front Range. We discussed what he learned from investing, and why he chooses different investing strategies for different markets. Rick is an engineer by day who self-manages all of his properties. Currently, he owns seven properties that total nine doors.
Below, I’m highlighting three of his properties and the biggest takeaways he learned from them. Listen to the podcast to hear the full conversation.
Three Learning Options!
Listen to the podcast “#105: Fix and Flips vs Long Term Rental: Landlord Shares His Biggest...2022-10-2636 min
Secret Sauce for Success#24 SSfS Episode with John Stege the Compassionate LawyerJohn Stege is the compassionate lawyer.
Everyone in real estate knows how to make money, John will help you keep it.
John believes in Mitigation, not Litigation.
Check out his website for all sorts of information.
https://www.compassionatelawyer.com
John can be reached at 720-431-1964
Johns Secrets to his Success is leaning into his strengths and not trying to fit into a typical litigation lawyer mold.
His biggest secret sauce is that he genuinely wants to help you be a happy...2022-09-271h 04Secret Sauce for Success#23 SSfS Episode with Tom Kelsey Part 2Tom likes the books Profit First and True North
He believes saying the expectations Out Loud to your tenants helps communicate the expectation better than just having it in the lease.
Tom Kelsey's Secrets Sauce for Success are:
1. Being interested in others and be willing to ask questions.
2. Be willing to do it differently. The crowd is average, so if you want to be something other than average,
You have to play the game differently.
You can reach Tom for you Home Inspection needs at 720-295-2065
2022-07-1049 min
Secret Sauce for Success#22 SSfS with Tom KelseyCall Tom Kelsey at 720-295-2065 for your next home inspection
You can find out more about Tom at
www.housemaster.com/denvernorth
OR email Tom at
Thomas.kelsey@housemaster.com
2022-06-2855 minSecret Sauce for Success#21 SSfS with Real Home SolutionsIt was a great interview with James Brown and Toby Hanson with Real Home Solutions and Hybrid Real Estate Investing.
My favorite quote was: "You will do more for others than you would do for yourself." That really rang true for me.
Their favorite books are:
Long Distance Real Estate Investing by David Greene
8th Habit by Stephen Covey
Secrets to their Success
Found a partner to team up with.
Ambition
Time Management. Uses Trello, Everest and color coded Google Calen...2022-02-1944 minSecret Sauce for Success#20 SSfS Episode with Levi KeeneLevi Keene is a man on the move and is raising money for syndicating real estate deals.
His Secret Sauce for Success is that he likes to analyze the situation before jumping to pick the most efficient plan.
Some of his favorite books are:
Richard Kiyosaki - The Cash Flow quadrant and Rich Dad Poor Dad
Thomas Wheelwright - Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes
Brandon Turner with Bigger Pockets: BRRRR
He likes to read anything by John Bogle and the Bog...2022-02-101h 02Secret Sauce for SuccessSSfS Episode #19 with Jeff DavenportJeff got his start as a sports newscaster and through the years he has honed his speaking skills to become a speaker/coach.
To improve on your speaking skills, here are some tips.
1. Perform a self assessment.
2. Practice, practice, practice.. It always helps to have a coach to ensure your not engraining bad habits.
3. Move your hands.
4. Know that you can improve
5. Communicate trust by connecting.
6. Mind your ummmm's and Ahhhh.. Replace them with a pause.
7. Clearly state what value you are b...2021-09-061h 01Secret Sauce for SuccessSSfS Episode #18 with Ryan HillRyan is a young man on the move.
He has a finance degree and worked at Charles Schwab for a few years.
He joined a start up and tried to get a business off the ground for 1 1/2 years.
Ryan works currently works in the coaching industry as a closer.
Ryan got his start into Real Estate when a friend "spilled the beans" on how he was buying real estate.
Ryan and his brother flew to Huntsville Alabama and met with agents and contractors, trying to find a deal.
When...2021-08-3139 minSecret Sauce for SuccessSSfS Episode #17 with Dave GrimmDave Grimm has done it all.
He started in the mortgage business and insurance.
He found out he was good at raising money for real estate syndication using LinkedIn.
He fine tuned the LinkedIn formula and built a lead generating business out of that called End 2 End Results.
Dave also leads a Multi-Family Syndication Mastermind.
Dave can be found at davegrimm11@gmail.com or at his website
https://www.e2eresults.com/i-spent-most-of-my-life-looking-for-and-creating-win-win-situations/
Dave's Secrets to his success are:
1. Relationships.
2...2021-08-0740 minSecret Sauce for SuccessSSfS Episode #16 with Jock BarkerJock Barker is full of advice from someone who has been there, done that.
He is a retired Real Estate Broker and Investor.
He has 25 fully paid off rentals and has the financial freedom that we all are striving to achieve.
Jock achieved success by a lot of hard work and finding the next challenging thing.
His Secrets to his Success are:
Have a Mentor, copy your mentor.
Use your extra money to pay down your rentals
Use your boredom to fo find something in your...2021-07-2257 minSecret Sauce for SuccessSSfS Episode #15 with Kimberly WiseKim Wise – HomeSmart Real Estate Agent/Investor
Kim got her start into real estate in 2007/2008.
She learned the ropes at Keller Williams
She learned about the investing side with an investor partner doing Fix and Flips.
Kim has a number of rental properties that she manages.
Secret Sauce
Persistent
Competitive
Seeking a Win Win
She believes in developing relationships and
Do unto others as you would have them do unto you.
Favorite Books:
Gary Keller KW...2021-05-1448 minSecret Sauce for SuccessSSfS Episode #14 with Vern HarrisVern Harris is an expert in assisted living homes.
He got his early start in the sign business and decided to branch out to real estate.
He found his calling and niche in assisted living homes as a creative deal maker.
Vern shares a lot of wisdom with us in this episode. I know I will need to go back and listen to it a few times.
I was surprised by the smaller group home advantages over the big box stores.
Vern's Secret(s) Sauce to Succes...2021-04-021h 03Secret Sauce for SuccessSSfS Episode #12+1 with Jim FlintJim is a native of Denver and graduated from DU with a Business Degree with a specialization in Real Estate and Construction. Jim has over 35 years of experience helping clients to invest in real estate. Over the years, Jim has formed 18 Partnerships and bought commercial properties in Colorado, Florida, Wyoming, New Mexico, and Alabama. Over 300 Investors have purchased an interest in these properties valued at $20,000,000. Currently Jim is the managing Member of four LLC's that own self-storage properties in Alabama and Florida. Jim is the Managing Broker of A Better Way Realty and has ten agents in the metro...2021-03-261h 07Secret Sauce for SuccessSSfS Episode #12 with Susan WilliamsThis weeks special guest Susan Williams. Susan is a wife, mother of 3 kids, works as an engineer and her and her husband
have traded up on an AirB&B property.
She is an Olympic Bronze Medal Winner in Triathlon in 2004.
She is also an athletic coach.
Secrets to Her Success
Have an accountability partner
Ask for help
Exercise to manage stress - Start by getting out of the door
Just get started
Hard work - Give it your best2021-03-1951 minSecret Sauce for SuccessSSfS Episode #11 with Rick and Doug recapping the first 10 episodesTake a walk down memory lane with Rick and Doug as we recap the first 10 Secret Sauce for Success Episodes.
There was a lot of ground covered by the first ten guests. Whew!
We are surrounded by a crowd of successful people.
Secret to these guests success:
Have a plan, do your plan and evaluate your progress with an accountability partner.
Prioritize your tasks.
Live below your means & save money so you have cash on hand to be ready for an opportunity.
Reward yourself.
Ha...2021-03-1255 minSecret Sauce for SuccessSSfS Episode #10 with Heather SewczakA great interview with Heather Sewczak. She has it all going on.
Together with her family, they have completed two fix and holds, one mold remediation fix and flip, and upgraded each of 3 primary homes with 2 moves in between to take advantage of the no capital gains.
Heather is an entrepreneur, wife, and mother of two successful teenagers, one who runs a screen printing business, and the other pursuing real estate. She has a 4 year degree in Computer Information Systems and worked for many years as a business consultant, flying around the world. She now s...2021-03-0540 minSecret Sauce for SuccessSSfS Episode #9 with ChrisChris is Elissa's Brother. Elissa was our guest on Episode #2. Success runs deep in this family.
Chris tells about his dentistry business and then his adventures in real estate investing. Great show.
I like his Honda Accord analogy about buying a simple but working investment.
Chris's favorite podcasts are: Bigger Pockets, Rational Reminder by Ben Philip, and Backpacker Radio
Chris's favorite books are: The Energy Bus and Building wealth 1 house at a time by John Shaub.
Chris's secrets to his success are: Learn enough to jump in and implement what yo...2021-02-2648 minSecret Sauce for SuccessSSfS Episode #8 with Nicole RuethNicole Rueth is a branch manager of Fairway Lending. She is also a speaker, podcast host and an investor with 24 doors. Her investment style is long term buy and hold, Class C units mostly in Aurora Co. She can be found at: https://www.theruethteam.com Sign up for her monthly Webinar.
Some of her favorite business books are: Simon Sinek - Start with Why, Find your Why, Know your Why, among others. The 12 Week Year. Patrick Lencioni - Lots of books to choose from.
Nicole's Secrets: Trust your gut...2021-02-1950 minSecret Sauce for SuccessSSfS Episode #7 with Rick Staael Part 2Doug continues the interview with Rick Staael. This episode we talk about the real estate side of Rick and how the successes in one part of his life spilled over into the real estate side.
I bought my first real estate purchase as a primary residence. It is a townhome we still own.
After raising a family, we bought a foreclosed home in a neighboring town. We spent 3 years fixing it up, only to then move again.
The townhome rental did so well, that we kept this 2nd house as well.
We had...2021-02-1232 minSecret Sauce for SuccessSSfS Episode #6 with Rick Staael Part 1The Host, Rick Staael, is interviewed by his Co-host Doug Kierstein. Rick tells his story of overcoming roadblocks in his life to become an engineer. Part 2 will continue the interview into the Real Estate endeavors.
He has two associate degrees in electronics, an undergrad in Electrical Engineering and a Masters in Systems Engineering.
On my way to get to a decent tech job, I worked at grocery stores, pizza place, painting and fixing consumer electronics.
I worked 5 years at Rockwell Collins before going back to NDSU for my EE.
After school, I work...2021-02-0639 minSecret Sauce for SuccessSSfS Episode #5 with Doug KiersteinThis episode we interview my Co-Host Doug Kierstein. Doug is a Colorado native.
He has always had an interest in working hard and making money.
At 13 years old, he wanted to invest some money. His dad took him to the bank and Doug didn't understand a word the guy said. But he got the itch and bought his first book on finance at 15.
He has three undergraduate degrees and some classes towards his Masters degree.
He holds degrees in finance degree, economics, and information systems.
On his own, he started...2021-01-3044 minSecret Sauce for SuccessSSfS Episode #4 with LaDawn WestbrookLaDawn is a real estate agent and an investor. She has some great tips on how to be successful.
She has a good business background to run your business as your business.
She likes working with people and her clientele is mostly through referrals.
She had some extra money and bought a rental house and still has it today.
She always wants to be her best client.
LaDawn currently has 8 doors and manages the local ones herself.
She looks for communication, fees, what is their...2021-01-2246 minSecret Sauce for SuccessEpisode #3 with Brooks O'HearnGreat interview with Brooks O'Hearn
Real Estate Investor, Real Estate Agent and Personal Coach
Played the game "CashFlow" while on family vacations. His parents bought Rich Dad Poor Dad for the kids friends.
He decided to get his education in real life real estate instead of traditional college.
Started his real estate endeavors by coaching and then started investing with his family.
Brooks decided to get his real estate license to gain more exposure to real estate and gain multiple streams of income.
Brooks has done some whol...2021-01-151h 02Secret Sauce for SuccessSSfS Episode #2 with Elissa TipriganA great show with Elissa Tiprigan that you don't want to miss. Besides being involved with real estate, she has a online subscription box business called "Catholic Family Crate".
She has a 4 year degree in Personal Finance and is married to David Tiprigan from Episode #1
She liked the AirB&B model, so they rented out their basement to offset their mortgage.
They lived in a tiny house and rented out both the upstairs and downstairs of their primary house. What a sacrifice to increase their cash flow.
She built up her onli...2021-01-0857 minSecret Sauce for SuccessSSfS Episode #1 with David TipriganInterview with David Tiprigan, a local Denver south metro real estate investor.
David and Elissa started in real estate by AirB&B'ing their Primary Basement.
Once they tasted success there, they researched and branched out and looked out of state.
They picked up five class C Duplex's in Texas with his family and eventually sold.
They picked up a house AirB&B in Texas as well.
They took advantage in a primary move and not paying capital gains to upgrade their primary house that has room for value ad.
...2021-01-0147 minSecret Sauce for SuccessSecret Sauce for Success TrailerDoug and I want to find out what the Secret Sauce is for all those Successful people out there.
Hopefully, you will benefit as we find the secret ingredient(s).
2020-12-2705 min