Accredited Income Property Investment Specialist (AIPIS)

Diane Gardner is a certified Tax Coach and CPA. With over 30 years of experience in both tax preparation and accounting, she has quite a few tips for Jason's audience. She is the author of The Obamacare Survival Guide and Why Didn't My CPA Tell Me That? Diane talks to Jason on how small business owners can avoid some serious tax mistakes and save on thousands of dollars. 

 

Key Takeaways:

[2:20] What isn't my CPA telling me? 

[5:45] With the right company entity type, you might be able to write-off medical expenses through your business. 

[7:50] CPAs often don't look at how you maximize your vehicle deductions. 

[10:25] There's a difference between a tax preparation engagement versus tax planning. 

[15:15] It's never too late to talk to a CPA. You can end up saving much more money than doing it yourself. 

[17:45] How can businesses survive Obamacare? 

[22:00] Hire subcontractors or virtual assistants to cut down the number of employees in your business. 

 

Mentioned In This Episode:

 

http://www.taxcoach4you.com/ma-journey-diane-interview/

Direct download: AIPIS_086_Diane_Gardner.mp3
Category:general -- posted at: 10:59am EDT

Eric McColgin shares his story about his interaction with Results Property Management, Quentin Kearney, the investor Izak Bencuya, and their respective attorneys. He believes Results Property Management is using HOA money to fund Bencuya's repairs and maintenance fees of his individual properties instead of the homeowners. Before Results Property Management was in charge of the HOA, the HOA had $40,000 in reserves. Now, it's between $5,000-$7,000. Today we find out what's happening with Creekside Village.

 

Key Takeaways:

[3:00] Eric was promised a tennis court, walking trails, and pond when he bought his property.  

[6:30] Four people showed up to the HOA meeting and Izak along with his attorney David Zeiler were trying to get the homeowners to give up the pool and clubhouse. 

[10:40] Quentin refused to answer Eric's questions about the walking trails and other amenities over the phone. 

[12:45] Zeiler was representing Izak in the proposal to take the clubhouse and pool. Quentin bought in Nick Porto to represent the homeowners. 

[15:50] When Eric met Quentin in person, he still refused to answer his questions. 

[17:25] The mayor of Grain Valley even told Eric that this looked wrong. 

[20:55] The HOA is picking up the bill for Izak's individual properties. 

[27:50] The HOA provider, Metrowide Building, is owned by Quentin Kearney.

[31:20] There should be two signatures whenever a check or payment is made on behalf of the HOA. 

 

Mentioned In This Episode:

 

Quentin Kearney - Results Property Management. 

Direct download: AIPIS_85_Eric_McColgin.mp3
Category:general -- posted at: 6:01pm EDT

Russ O'Hare has been experiencing problems with Results Property Management in Kansas City, Missouri. He is one of the home owners at Creekside Village and has a number of complaints and allegations over the way the firm has been managing the properties. He shares his story to Jason Hartman. 

 

Key Takeaways:

[3:50] Russ was first told that it was Curry Real Estate managing the properties, not Results. 

[8:15] Metrowide Building invoices has the same address as Results. Are they owned by the same people? 

[10:25] $2,500 was charged to the HOA for trimming trees and bushes for less than 8 hours of work. 

[16:18] Russ's wife made copies of invoices when they requested to see the books. 

[20:05] It seems the investor Isaac Bencuya and Results have some kind of arrangement with each other. 

[25:20] The club house, pool, and one of Isaac's apartment buildings run on one electric meter and that bill goes to the HOA. 

[27:15] Isaac setup a proposal for the home owners to basically give him the pool and club house. 

[30:15] Dave Zeller, Isaac Bencuyz, and Quentin Kearney said they had no affiliation with Nick Porto when Nick was representing the HOA. 

[40:05] During this proposal, Dave Zeller's attorney fees were charged to the HOA and not out of Isaac's pocket. 

 

Mentioned In This Episode:

 

Quentin Kearney – Results Property Management. 

Direct download: AIPIS_84_Russ_O27Hare.mp3
Category:general -- posted at: 4:59pm EDT

Jason has received a number of complaints about Quentin Kearney and Results Property Management. He interviews Bobbie O'Hare to get the inside scoop of what's really going on. Bobbie has been looking directly at the Results Property Management books and has noticed a number of vague invoices. She is also having a hard time getting direct answers from the management company, which is delaying her investigation even further. 

 

Key Takeaways:

[2:05] There are lots of clients coming to Jason with complaints about Results Property Management. 

[5:00] Results Real Estate invoices were incredibly vague and non-descriptive. 

[6:35] The company could not provide Jason with simple receipt copies from the vendor and did not know who the vendor was who did the work. 

[15:05] Bobbie thinks the company is charging higher HOA fees and homeowners are unknowingly subsidizing the apartment fees. 

[29:15] What other discrepancies did Bobbie find during her investigation? 

[37:35] All of the invoices Bobbie received looked wrong. 

[40:40] Bobbie can't talk to her own management company anymore, because they know she's building a case against them. 

[47:00] Results has been known to intimate other management companies so that they stay away. 

[50:55] Bobbie is trying to combine a number of cases against Results to make the case even stronger. 

 

Mentioned In This Episode:

 

Quentin Kearney - Results Property Management. 

Direct download: AIPIS208320Bobbie20O27Hare.mp3
Category:general -- posted at: 2:53pm EDT

Abby Shemesh of Amerinote Xchange has overseen countless of buy and sell transactions in the mortgage note business. Abby talks to Jason on why purchasing mortgage notes is the best thing next to generating yield, key mistakes to avoid, and the importance of getting a third party property appraiser. 

 

Key Takeaways:

[2:00] San Francisco’s real estate is becoming a big bubble.  

[7:15] Banks are being too strict in lending money to potential investors. 

[10:10] Do your due diligence when buying notes. 

[14:45] Don't ever go with a recommend appraiser by the seller, burrower, or broker. 

[16:40] Get an attorney and consult your accountant before you purchase a note. 

[18:00] Selling notes are not for everybody. You still have other options. 

[20:15] There's still no software for to accurately calculate note prices. 

[22:30] Make sure the company you're dealing with has an internet presence and get them on the phone.  

 

Mentioned In This Episode:

 

www.note-buyer.net

Direct download: AIPIS208220Abby20Shemesh.mp3
Category:general -- posted at: 5:50pm EDT

Lance Edwards is the president of First Cornerstone Group and the author of How to Make Money in Small Apartments. He talks to Jason on the ways you can find great deals, why you should always have a management company, and much more on today's show. 

 

Key Takeaways:

[1:50] Why are small apartments so great? 

[6:50] Lance explains how the market cap rate for the metro area can indicate if it's going to be a good cash flow market or not. 

[10:45] How do you find a good management company? 

[15:20] Lance explains how you can find a good list of potential sellers.   

[18:25] Lance offers three price options for sellers. 

[25:30] – For Jason's listeners, Lance is giving his book away for free. 

 

Mentioned In This Episode:

http://www.irem.org/

loopnet.com

corelogic.com 

prospectnow.com 

freeapartmentsbook.com

Direct download: AIPIS208120Lance20Edwards.mp3
Category:Educational Podcast -- posted at: 2:55pm EDT

Daniel Miller of Fundrise talks to Jason Hartman about his real estate crowdfunding platform. He talks about how Fundrise got started, why traditional real estate developers are going through crowdfunding platforms, and much more on today's show. 

 

Key Takeaways:

2:10 – Daniel talks about how Fundrise got started. 

5:30 – Fundrise now provides funding for commercial real estate developers. 

11:15 – Why do real estate developer go to Fundrise and not a bank instead? 

19:08 – When Daniel first started Fundrise, there was a huge resistance among traditional real estate developers. 

22:05 – Daniel believes the investment world will be experiencing the same shift the publishing world experienced. 

 

Mentioned In This Episode:

Fundrise.com

Direct download: AIPIS208020Daniel20Miller.mp3
Category:Educational Podcast -- posted at: 4:23pm EDT

Salvator Buscemi is the author of Making the Yield, a managing partner in Dandrew Partners and runs the Oasis Fractionalized Real Estate Equity. Mortgage Brokers took to the streets to get funding for homes in pre-foreclosure and that was the start of the real estate crisis. Investing with short money people (those who invest $50,000 and under) can be costly to the entire deal. Jason and Salvator agree on most things and being cynical is the best way to be in business. 

 

Key Takeaways:

[1:48] Hard money lending uncovered

[5:32] No exit strategy on Sub-prime loans

[6:30] Funds to buy other funds

[7:59] Inexperienced fund managers

[11:50] 10 commandments of investing

[13:15] The rack rate secret

[15:28] Operator should be local to the asset

[19:00] Crowdfunding

[20:40] Short money?

[23:59] Federal Reserve’s no yield environment

[27:25] Massive interventions by Govt’s and Central Banks

[30:50] Resume of Bernie Madoff and others

[32:45] It’s all political

[34:20] Golden Age of Real Estate

[35:15] Intimate money management 

[37:16] Fund Manager should skin in the game

[40:00] Where are you in the capital structure?

[42:52] Makingtheyield.com, 1st 20 are free

 

Mentions In This Episode:

Dandrew Partners

Oasis Fractionalized Real Estate Equity

Making The Yield - Book

Caliber

jasonhartman.com/store

Direct download: AIPIS207920Salvator20Buscemi20RP20CW20503.mp3
Category:Educational Podcast -- posted at: 5:57pm EDT

Scott Sharpe comes with an impressive resume in racing and has moved on to the real estate crowdfunding business. He and his team buy notes in bulk and then sell each individual note on KC iFund website. Scott talks to Jason about how the website works, what kind of returns an investor can expect to see, and more. 

 

Key Takeaways:

2:00 – Scott shares a little bit about his background and experience. 

6:20 – Investors can put in as little as they want and still earn the same percentage as the larger investor. 

10:10 – KC iFund co-invests with the investor who has purchased a note from them. 

12:40 – Scott talks about his partner's experience in the note industry. 

14:25 – KC iFund only invests in first position performing and non-performing notes. 

15:10 – RealInvest.com allows unaccredited investors to participate in real estate investing. 

 

Mentioned In This Episode:

KciFund.com

RealInvest.com

Direct download: AIPIS207820Scott20Sharpe.mp3
Category:Educational Podcast -- posted at: 1:28pm EDT

On today's AIPIS show, Jason introduces an interesting format where it's just Pat Hiban and him sitting down and having a real estate-focused conversation. Jason and Pat both switch off on the interviewing process to share each other's stories on how they got into real estate. Pat shares some key mistakes he learned from investing in a mobile home, why he loves sorority housing, and much more on today's show. 

 

Key Takeaways:

2:15 – Pat talks about how he got started in real estate. 

6:20 – Jason shares his personal story about how he achieved real estate success. 

11:40 – Jason really loves single-family homes as investments. 

18:20 – Where are some of the hottest real estate investment markets right now? Jason explains.

25:00 – Pat explains why his mobile home investment deal went bad.  

29:30 – Pat loves section 8 tenants and he explains why. 

32:40 – Pat also loves renting to sororities. 

38:40 – There are so many rags to riches stories in real estate investing. It's almost like those stories don't exist on Wall Street. 

 

Mentioned In This Episode:

PatHiban.com

JasonHartman.com

@JasonHartmanROI

Direct download: AIPIS207720Pat20Hiban.mp3
Category:Educational Podcast -- posted at: 11:11pm EDT