How Mitch Stephen Became a Mega-Successful Investor, Part II

We’re back with part two of my exclusive interview with mega-successful real estate investor Mitch Stephen.

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On today’s episode of “The Real Estate Raw Show,” I’m excited to conclude our interview with mega-successful real estate investor Mitch Stephen. As I said before, Mitch has bought, owner-financed, and sold over 1,500 homes in his hometown since 1996, and he has plenty more to say about how he was able to do this.

For your convenience, I’ve timestamped the rest of the interview below so that you can jump to whatever topics interest you most:

1:15 - The story of how Mitch wrote his first book.

7:27 - The inspiration behind his message.

9:14 - A CliffsNotes breakdown of all the books Mitch has published and what they can teach you.

15:28 - Books that have changed Mitch’s life and the lessons they taught him.

19:30 - His advice to anyone who thinks they’re stuck in a rut.

22:30 - How he works with sellers and what the benefits of owner financing are.

26:00 - How he automates his business.

29:30 - Why storage units are such a great investment.

Once again, I want to thank Mitch for being on my show, and I hope he can join us again someday to share more stories about how to achieve and maintain his level of success. 

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I’m super excited to share the second half of this interview with you.

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As always, if you have any questions for me regarding buying, selling, or investing in real estate, don’t hesitate to reach out to me. I’d be delighted to help you out.

How Mitch Stephen Became a Mega-Successful Investor

Mitch Stephen, mega-successful real estate investor, author, and podcast host, is on the phone with me today to discuss how he climbed to the heights he has achieved. 

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On today’s episode of “The Real Estate Raw Show,” I’m very excited to introduce our outstanding guest from Texas, Mitch Stephen. Mitch has bought, owner-financed, and sold over 1,500 homes in his hometown since 1996—not as an agent, but as an investor. He has his own podcast and has written several books, so I’m extremely happy to have him on to discuss how he’s become so successful.

For your convenience, I’ve timestamped the interview below so that you can jump to whatever topics interest you most.

0:40- Retaining one-third of the 1,500 homes Mitch has accumulated.
1:20- Mitch’s path to financial freedom
4:20- What are Mitch’s strengths?
5:20- Explaining owner-financing
8:50- Mitch’s idea of a perfect student
12:25- Mitch’s biggest success stories
15:50- Mitch’s parting advice

I want to thank Mitch so much for being on our show, and I hope he can come back again to explore some other questions about his success. If you would like to get more detailed information about his insight and experiences, visit the following links:

• To buy his book “My Life & 1000 Houses: Failing Forward to Financial Freedom”, or download the first 100 pages for free: https://ub203.isrefer.com/go/book/jm2018/
• To benefit from his online training system “The Art of Owner Finance”, which includes 13 easy-to-digest video/audio modules: https://ub203.isrefer.com/go/497/jm2018/
• To learn a real estate investing technique that blows being a landlord away: https://ub203.isrefer.com/go/oftw/jm2018/
• For tools and training on how to raise private money without fear of failure: https://ub203.isrefer.com/go/pmce/jm2018/

If you have any questions for me regarding buying, selling, or investing in real estate, don’t hesitate to reach out to me. I’d be delighted to help you out.

A Great Conversation With an Amazing General Contractor

Darrin Brightmon is a fantastic general contractor here in San Diego. We had a great conversation about he does and how he helps people every day.

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Welcome to another edition of the "Real Estate Raw Show." Today I have a very special guest, Darrin Brightmon. He’s a former star running back for UNLV, a colonel in the Army Reserves, and a fantastic general contractor with a great company, BDG Builders. I sat down with him to talk about the business, what he does, and how he helps people like myself and my clients on a daily basis. Here’s an outline of our discussion, with timestamps so that you can skip around to the topics that interest you most:

1:30- How Darrin got into the general contracting business.

3:00- The different licenses in the contracting world and the licenses that Darrin has himself.

5:40- The importance of bonds when hiring a contractor like Darrin and how they protect the consumer.

7:15- The dangers of hiring unlicensed or unbonded contractors to save a bit of money.

9:15- A rundown of a few of the projects Darrin is working on in San Diego right now.

Darrin works with San Diego property owners every single day.

11:20- The difference between residential and commercial contracting work.

12:00- Why hiring Darrin and BDG Builders to help build your new home is such a great idea.

If you have any questions for Darrin about how he can help you, don’t hesitate to reach out and give him a call at (858) 354-1041 or head on over to www.BDGBuilders.com.

If you have any mortgage-related questions or needs, don’t forget about our friend Akshay Patel at Easy Fundings Home Loans. You can reach him at (858) 207-8436.

Finally, if you have any questions regarding real estate, the market, or anything else, you can always reach out and give me a call or send me an email. I look forward to hearing from you soon.

An Interview With One of the Hardest-Working Lenders Around

Akshay Patel is not just a mortgage lender, he’s an undeniable force. Here’s what makes him so special.

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I’m so excited to be joined by a special guest today. He’s super unique, super ambitious, and I’m excited to be sharing the stage with him today. His name is Akshay Patel and he is an absolutely fantastic mortgage lender here in San Diego

I recently had a VA buyer who wasn’t able to get him qualified with other lenders. Once they went to Akshay, he was able to get the buyer qualified. Here’s why.

One big reason why Akshay is so successful is that he focuses on solutions, not problems. Instead of just saying no or pushing things to the side if there isn’t an easy fix, he works to find solutions to all of our clients’ problems. He’s actually been able to get seven deals done this year that other lenders weren’t able to get done first. Whether it’s a long-term plan or a short-term one, if there’s a solution, Akshay is going to find it.

If there’s a solution, Akshay is going to find it.

There are no days off for Akshay, and that’s because he’s passionate about getting homebuyers qualified to purchase homes. He’s persistent, he never gives up, and he goes the extra mile for everyone he works with. He wasn’t hustling for our clients just because he was a friend, he was hustling because he is all about his business. He wants to help bring us to the next level, and we want to do the same for him. It’s been a very fruitful partnership thus far.

The big banks generally make our clients jump through so many hoops, a lot of times they end up just wanting to give up. I recently had a client who was fed up with the big banks and trying to do a 1031 exchange, so I set him up with Akshay and was able to get a solution figured out in just a quick, 20-minute phone call. Even if clients get turned down by other lenders, Akshay never takes no for an answer.

If you’re not sure whether or not that you can qualify to buy a home, you should get in touch with Akshay first. You can give him a call at (858) 207-8436. If you have any other questions about real estate in the meantime, don’t hesitate to give us a call or send us an email. We look forward to working with you soon.

Do You Need a Mentor?

What is your plan for your real estate career? If you are unsure, then you should step back and consider your end goal.

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Do you know your plan?

In real estate, whether you’re buying, selling, investing, or creating a family fortune, you need to know your plan to make that happen.

There are multiple directions you can take in real estate to get there: you can buy notes, do fix-and-flips, or you could be a Realtor. At the end of the day, figure out your end goal and what is required to meet it. 

If you don’t know your end goal, you are putting in a lot of time and effort to get… where? Do you want to create massive income or passive income? Both?

Too many people begin careers in real estate without creating or knowing their plans for success. I have been in the business for several decades, so I know the struggle. I am coaching, mentoring, and training people from across the nation. We are talking hundreds of units and sales per year. 

You might be good, but if you want to be great, you need to have clarity, purpose, and focus.

Sometimes, when you start off, you don’t actually know what you want to do. If you just go through the motions and grind through the days, you’ll probably get a little lost. At that point, it’s time to step back a little bit and reformulate. Figure out what you really want from your time and effort. You might even consider hiring a mentor like myself who will guide you and help you keep focus.

You might be good, but if you want to be great, you need to have clarity, purpose, and focus. That’s what a great coach or mentor will do for you.

If you have any questions or would like to speak with me about getting guidance in your real estate journey, feel free to reach out to me. I’m a real estate broker, an investor, an entrepreneur, and I’m here to help you.

A Story of Investing Success

My special guest, Hector Padilla, is here today to share his story about how he went from washing dishes to being a multimillionaire real estate investor.

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Hector Padilla, my guest today is a great friend of mine in the multifamily commercial investing business. Since I met him in 2004, I have watched him accumulate massive amounts of property.

Today I want to share some of his story and discuss how he got from washing dishes to accumulating over $86 million worth of property. I have provided timestamps for you below so that you can jump to whatever topics you like throughout the video above.

• 1:05—Hector’s humble beginnings as a dishwasher.
• 2:20—The drive to succeed is driven by your circle of influence.
• 4:20—The value of hiring a coach: exponential growth.
• 7:40—Think about your ideal lifestyle; how much will it cost you?
• 11:55—Making lots of money is not the same thing as creating wealth.
• 13:35—Don’t hold yourself back by assuming that you don’t need to grow.
• 15:30—Focus on what you’re good at. If real estate isn’t your skill, consider partnering with an acquisition firm in a joint venture.
• 17:00—If you are thinking about making a sudden career change: read “Pivot” by Adam Markel.
• 18:50—Details about Hector’s free webinar wherein he tells more of his story and how he works with funding partners and private investors to find deals.
• 20:20—Rude awakenings as motivation.
• 22:00—Don’t give in to the victim mentality. Excuses are not crutches.
• 25:00—Success in real estate and wealth creation is hard work.
• 26:35— “If it’s meant to be, it’s up to me.”

I really appreciate the time Hector took to have this discussion with me and the insight to success that his story provides. If you have any questions about buying, selling, or investing in real estate, you are absolutely encouraged to reach out to us. We can discuss your goals and talk about what we can bring to the table in order to make them happen.

How the SWOT Formula Can Boost Your Business

To stay ahead in your business, you’ve got to constantly adapt. Today I’d like to talk about how the SWOT formula can help you do just that.

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What is the SWOT formula and how does it relate to your real estate career or your investing business? SWOT is actually an acronym describing different concepts that are important to the success of your business.

“S” stands for strengths. What are your strengths? Whether you’re a pro at marketing or a great salesperson, it’s important to hone in on your skills in order to do well in your business.

“W” stands for weaknesses. What are your weaknesses? If you’re investing too much energy into focusing on your weaknesses, you could be taking critical attention away from your strengths. When you know what your weaknesses are, it can be helpful to hire others to make up where you lack.

You must constantly innovate and improve in your business if you don’t want to be left behind.

“O” stands for opportunities. What opportunities are you missing out on? If you see an opportunity, seize it. When markets shift, you must adapt and overcome. If you aren’t doing this, you’ll be lost in the shuffle.

“T” stands for threats. What threats are you facing? If you aren’t adapting and overcoming, your competition may pose a major threat to your business. You must constantly innovate and improve if you don’t want to be left behind.

Following and thinking critically about the SWOT formula can greatly improve your business. If you pay attention to each of the concepts and questions we went over today, I promise you’ll go further, faster in your career.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Why Do Dabblers Get Destroyed?

Today I’ll explain why you should study and master the game to become a true business owner and investor instead of dabbling.

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Dabblers get destroyed.

What do I mean by that?

I started working in real estate 30 years ago when I was only 17 years old. I stayed the course and did really well. My success encouraged my friends and family to join, thinking it was easy. But it wasn’t.

How did I make it look so easy? I’m a firm believer that you must learn before you earn. You must master and study the game and then go for it fearlessly.

I got so good at real estate that Tom Ferry asked me to be a coach. So, I mastered, studied, and learned the coaching business and got really good at it.

Again, some people thought it was easy. They followed my lead and found out it was not easy.

Thanks to Robert Kiyosaki’s wisdom in “Rich Dad Poor Dad,” I learned about the cashflow quadrant. Most people are employees who attempt to break into the real estate business as either agents or fixer flippers. They remain in the “S” quadrant or self-employed quadrant.

I am here to invite you to explore the business and investment quadrant. Explore the idea of being a business owner and true investor.

What does it take to be either? Call me and I’ll go over this in more detail.

If you start thinking bigger and doing bigger things, then bigger, better things will happen for you.

You must move into that quadrant. Why? Who wants to work forever? Have you heard of the 40-40-40 plan? You work 40 hours a week, 40 years of your life, to live on 40% of your income. Who really wants that plan? Nowadays, some people can’t even survive 40 years in a job.

So, focus on massive, passive income. Let’s not get confused—I’m not leaving the real estate business.  The whole point of me sharing this is I’m looking to buy apartments and multi-units through my investment company. If the folks don’t want to sell to me on great terms such as seller financing, I will sell it for top dollar retail at my brokerage.

I am on a mission to help as many people including myself, my family, and my team to reach this quadrant with me. Pick up Robert Kiyosaki’s book, “Rich Dad Poor Dad” to learn more about the quadrants—it is phenomenal.

Don’t think I am moving in too many directions—it’s all real estate. Someone said, “Hey Joe, you can’t ride so many horses at once. You have to just ride one.” Try telling that to Elon Musk. Elon Musk has multiple companies: SpaceX, Tesla, and SolarCity. I have a long way to catch up to him. But, if you start thinking bigger and doing bigger things, then bigger, better things will happen for you and your family.

I want to help wonderful people who want to pursue the business and investment quadrant. Remember, dabblers get destroyed.

Give me a call or send me an email with any questions. You can also stop by my office and we can discuss this in more detail. I would be happy to help you!

Meet the People Who Run My Team

Meet the members of my team who make your real estate dreams come to life.

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I’m a firm believer in the phrase “teamwork makes the dream work,” so today, I wanted to introduce some of my wonderful team members to you.

• Mike Anglo—“I service all across San Diego. I’ve bought and sold real estate for the past 10 years, and I study the market. I want to be your resource.”
• Sergio Yturralde— “I’m a Realtor who services all of North San Diego County. Ask me what I can do to help you with any of your real estate needs.”
• Margaret Uth—“My specialty is single-family homes, townhomes, condos, and luxury properties. My niche is first-time homebuyers, seasoned buyers, sellers, investors, and veterans. Military families and civilians who are looking to buy or sell in San Marcos, California: give me a call.”
• Skipp Cook—“I’m a senior loan officer with Bank of America. Joe Mendoza and his team utilize me because he knows that I’ll offer his customers great service. We have a lot of great loan programs and very low rates. I look forward to speaking with you.”
• Dan Batoon—“I’ve been a Realtor for the past 13 years here in San Diego County. I’ve been helping out clients in the North San Diego County inland market within the Poway Unified School District, as well as Carmel Valley, Scripps Ranch, and Mira Mesa.”
• Nicole Abrego—“I absolutely love helping clients buy and sell real estate in San Diego and the surrounding counties. If you or anyone you know needs assistance, feel free to call me."
• Irman Clark, Ph.D—“I’m the team lead at Clark & Company Real Estate Group. I’ve got 15 years of street smarts in the real estate business, and I pay it forward to my clients. Whether you’re looking for a real estate nerd or a real estate stud, I’m your guy.”
• Adolfo Lugo—“I’ve been helping buyers and sellers with their real estate needs since 2010. I’m currently servicing the San Diego North County area. I’d love to help you or someone you know with any real estate needs.”
• Akshay Patel—“As a proud mortgage broker and direct lender, I have the ability to offer you all these amazing products, along with the service to back it. My team and I are looking forward to servicing your next loan.”

As you can see, it’s not just me that makes our team work!

If you have any questions or are looking to buy, sell, or invest in real estate, feel free to reach out to us. We'd be happy to help you.

Why Should You Invest in Multi-Family Units?

Apartments and multi-family units are a great investment. There are a few reasons why.

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Why should you invest in apartments and multi-family units? There are two main reasons I want to share with you today.

1. The demand is there. Rental prices are going up and up and up; they don’t usually go down. When the demand is high, prices go up! Consistently rising prices mean consistently improving returns for the investor. When price goes up, your cash flow increases.

If you’re looking for a serious investment, now is a great time to look into apartments and multi-family units.

2. Both millennials and baby boomers have been reluctant to purchase homes. Many millenials lived through their parents losing lots of their capital in the real estate crash of ‘07, and so they are reluctant to get caught in that sort of loss themselves. Likewise, baby boomers are reluctant to buy outright as well, since they went through that crash themselves and are just now able to recoup on their properties, or at least downsize to minimize their exposure to future downturns in the market.

If you’re looking for a serious investment, some kind of massive, passive income for the future, now is a great time to look into apartments and multi-family units.

If you have any questions about investing in apartments or about real estate in general, give me a call or send me an email. I would be happy to help you!

Which Is Right for You: Self-Managing or Hiring an Expert?

Today I want to cover an important question: Should you self-manage or hire a property manager? The answer comes down to two factors.

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Today I want to cover an important question: Should you self-manage or hire a property manager?

Actually, the answer will depend on two things: Do you have the time, and do you have the expertise?

If you’re managing just one property, perhaps you’ll have sufficient time to self-manage. But, if you’re managing multiple units, I might recommend hiring a property manager. Imagine the time it would take to manage that many units.

You should also think about your level of expertise. Are you familiar with landlord-tenant law, the eviction process, or anti-discrimination acts?

Ask yourself this: Do you have the time, and do you have the expertise?

If you aren’t familiar with any of these things, I suggest you hire an expert. There could be legal consequences if you try to handle these things on your own without the right expertise.

My team and I have the time, knowledge, expertise, and resources to help you manage your properties.

So if you’re considering investing in real estate, would like more information, or have any other questions, give us a call or send us an email. We look forward to hearing from you soon.

Are You Joining Us on June 16th?

June 16 is going to be a great time. I’m hosting a golf tournament in support of Boy Scout Troop 709!

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Friends, family, business associates, and everybody else out there, I just wanted to let you know to save the date for Saturday, June 16. At 11:30 a.m. at the St. Mark Golf Club in San Marcos, we’ll be teeing off for a golf tournament to benefit Boy Scout Troop 709, which my son and I are a part of.

I’m the Golf Committee Chairman, a Merit Badge Counselor, and Assistant Scoutmaster for the troop. This is just one of the things we look to do to give back to the community. By supporting the Boy Scouts and Troop 709, you are supporting America’s future. For over a century, the Boy Scouts of America has helped build the future leaders of this country by combining educational activities and lifelong values with fun. The Boy Scouts of America believes and, through over a century of experience, knows that helping youth is a key to building a more conscientious, responsible, and productive society.

This is a great way to spend a Saturday.

This is going to be a great way to spend a Saturday. Even if you’re not a big golfer, we’d love to have you join us for the dinner and silent auction. If you’re interested in helping sponsor a hole, we’d love to hear from you as well.

To learn more about the event and to purchase your tickets, click the link here. If you have any other questions for us in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

What’s Keeping You From Investing in Real Estate?

If you think it’s not possible for you to get into real estate investing, we want to help you.

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What’s stopping you from investing in real estate?

Could it be money? Perhaps you’re limited in what you can make by your profession.

Could it be time? This is a valid excuse for some, but guess what: We all have 24 hours in a day.

Could it be credit? Perhaps you’ve gone through a bankruptcy, a bad divorce, or lost your job.

Could it be a lack of knowledge? Perhaps you’re in a profession that has nothing to do with real estate.

If any one of these excuses applies to you, you’re in luck. My team and I want to help you invest in real estate.

We’ll do the job well and we’ll take care of you.

We have the time—real estate is something we love to do, and we’re committed to it.

We have the money—my business partners and I look at multi-unit properties and commercial buildings worth as much as eight figures.

Finally, we have the knowledge—I’ve been in the business for 20 years, and I have a partner who’s been practicing law for twice that long.

We’ll do the job well and we’ll take care of you. If you have any questions or you’re thinking of investing in real estate, don’t hesitate to reach out to me. I’d love to speak with you and get the ball rolling.