The REI Diamonds Show-Real Estate Investment Podcast REI Diamonds

Episode 249: How to Bill Your Tenants for Water Usage with Kelly KoontzGuest: Kelly Koontz, a seasoned expert in utility submetering solutions tailored for multifamily properties. With over two decades of experience at Submeter Solutions, Kelly has been at the forefront of revolutionizing utility management strategies, empowering property owners to maximize efficiency, enhance property value, and foster tenant accountability. In this episode, Kelly shares invaluable insights into the intricacies of utility submetering, its profound impact on property management practices, and practical strategies for seamless implementation.Big Idea: At the heart of utility submetering lies a transformative approach to utility management for multifamily properties. By accurately measuring and allocating utility costs to individual tenants, property owners can unlock a myriad of benefits, ranging from significant cost recovery and increased property valuation to fostering a culture of responsible resource usage among tenants. Through the integration of modern metering technology and innovative billing methodologies, utility sub-metering not only optimizes operational efficiency but also empowers property owners to proactively manage utility expenses, mitigate financial risks, and elevate the overall tenant experience.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://SubmeterSolutions.com/View the Episode Description & Transcript Here:https://reidiamonds.com/how-to-bill-your-tenants-for-water-usage-with-kelly-koontz/Kelly Koontz & I Discuss How to Bill Your Tenants for Water Usage:• Introduction & Financial Impact of Submeter Solutions – 1:01: Kelly delves into the core principles of utility submetering and its role in transforming multifamily property management practices.• Comparison of Billing Methods – 4:11: Contrasting traditional flat-rate billing, RUBS (Ratio Utility Billing System), and utility submetering, elucidating the advantages of metered billing for property owners and tenants alike.• Technical Implementation of Submetering Systems – 10:42: Providing comprehensive insights into the technical aspects of utility submetering, from metering equipment selection to connectivity solutions and data management strategies.• Utility Bill Integration with Rent – 20:59: Exploring lease structures and billing methodologies to prioritize utility payments alongside rent.• Ideal Clients and Property Types – 29:30: Identifying ideal clients, including self-managing landlords, property managers, and commercial property owners.• Insurance Premiums & Installation Costs – 45:10: Kelly discusses how insurance premium reductions are linked to active leak detection systems, the logistics and costs of installing sensors in multifamily units, and the growing regulatory and market demand for leak management solutions in water-scarce regions.

Episode 245: Avoid Property Insurance Nightmares with Public Adjuster Andy GurczakGuest: Andy Gurczak is a seasoned real estate investor and public insurance adjuster. Starting with a humble duplex, Andy has strategically expanded his portfolio to include a variety of commercial properties. He leverages his construction background and keen market insight to navigate the complexities of real estate and insurance claims, making him a valuable resource for both novice and experienced investors.Big Idea: Andy Gurczak delves into the intricacies of insurance claims for property investors, emphasizing the importance of strategic decision-making and thorough understanding of the process to avoid pitfalls. He also shares his journey from residential to commercial real estate investing, highlighting the lessons learned and strategies for success in the commercial sector.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://www.AllCityAdjusting.com/View the Episode Description & Transcript Here:https://reidiamonds.com/avoid-property-insurance-nightmares-with-public-adjuster-andy-gurczak/Andy Gurczak & I Discuss Avoiding Property Insurance Nightmares with Public Adjuster:• 5:50 - Details of a 1031 Exchange: Insights into executing a 1031 exchange successfully and the lessons learned from the process.• 10:01 - Acquiring a Seven-Unit Commercial Property: The story behind acquiring a prime commercial building and its financial implications.• 15:40 - Financing Strategies: How leveraging relationships with local banks facilitated property acquisitions.• 18:30 - Property Management and Tenant Relations: Managing properties personally and dealing with tenant issues directly.• 27:35 - Critical Timing in Claim Filing: Brother Elijah's experience highlights the importance of acting swiftly and seeking expert advice to maximize claim value.• 29:19 - Settlement Offers and Pitfalls: Andy shares insights into deciphering settlement offers and avoiding potential traps.• 35:52 - Commercial vs. Residential Claims: Understanding the dynamics between commercial and residential claims can influence strategy and approach. Relevant Episodes: (200+ Content Packed Interviews in Total)• Andy Shamberg on Property Insurance Fundamentals• REI Diamonds Show with Rick Thompson on Building Green, High Performance New Construction• 100+ Unit Apartment Syndication with Stephanie Walter• Rental Property Insurance Pitfalls with Attorney Galen Hair• How to Avoid Capital Gains Tax Using a Deferred Sales Trust or Like Kind Exchange with Carl Worden

Episode 248: New Silver Fintech CEO Kirill Bensonoff on Blockchain Hard Money LoansGuest: Kirill Bensonoff, CEO of New Silver, a groundbreaking fintech lending organization, is at the forefront of revolutionizing real estate investment. With a focus on fix and flip, ground-up construction, and buy-to-rent projects, New Silver provides investors with innovative financing solutions backed by cutting-edge technology. Combining his expertise in technology and a deep understanding of real estate, Kirill brings a unique perspective to the table, unraveling the intersection of blockchain and trust within the industry.Big Idea: New Silver combines financial expertise with advanced technology to streamline the lending process for real estate investors. By leveraging blockchain technology and smart contracts, New Silver offers faster loan approvals and closings, reducing the time and complexity traditionally associated with hard money lending. The discussion revolves around the pivotal role of trust in real estate transactions amidst the rise of blockchain technology. While blockchain promises seamless transactions and tokenization, Kirill and Dan delve into the fundamental necessity of trust in every aspect of real estate, from lending to investment.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://NewSilver.com/View the Episode Description & Transcript Here:https://reidiamonds.com/new-silver-fintech-ceo-kirill-bensoff-on-blockchain-hard-money-loans/Kirill Bensonoff & I Discuss Blockchain Hard Money Loans:• Exploring the Role of Hard Money Lending in Real Estate Investments (02:12): Unpacking the significance of hard money lending as a crucial financing option for real estate investors, offering flexibility and speed in transactions.• Demystifying Loan Requirements, Down Payments, and Interest Rates for Profitable Ventures (5:34): Breaking down the essential components of real estate loans, including requirements, down payments, and interest rates, while discussing profitability calculations to empower investors.• Effective Strategies for Strengthening Offers and Accelerating the Closing Process (17:01): Offering tactical approaches to enhance offers to sellers and expedite the closing process, ensuring a competitive edge in real estate transactions.• New Silver's Dedication to Tailored Solutions and Building Strong Borrower Relationships (00:20:10): Highlighting New Silver's commitment to providing customized solutions and nurturing robust borrower relationships to foster trust and long-term success.• Blockchain Applications in Real Estate Transactions (25:05): Discussing the potential of blockchain to streamline real estate processes such as property title transfers and asset settlement, enhancing efficiency and reducing transaction costs.

Episode 247: Transforming Big-Box Retail into Self-Storage: A Conversation with Clint HarrisGuest: Clint Harris is a seasoned entrepreneur and real estate expert who traded in his medical sales career for a life of financial, time, and location independence through strategic investments in real estate. From implanting pacemakers to converting big box retail buildings into self-storage facilities, Clint's journey is nothing short of transformative. As the founder of Nomad Capital, he's known for his innovative approach to reshaping the real estate landscape in the Southeastern United States. Join us in this episode as Clint shares his insights and experiences, highlighting the pivotal moment he decided to break free from the limitations of trading time for money. His story serves as an inspiration for anyone seeking financial independence through strategic real estate investments.Big Idea: Clint Harris offers a groundbreaking perspective on real estate investment, focusing on converting vacant big-box retail buildings into lucrative self-storage facilities. He demonstrates how investors can achieve substantial returns with a unique value-add strategy through strategic acquisitions, in-house construction, and capital raising. Clint highlights the adaptability required to meet the evolving demands of consumers, particularly millennials, within the self-storage sector. He underscores the resilience of this niche market amidst economic fluctuations, advocating for calculated risks to break free from the constraints of trading time for money. Clint's insights prompt listeners to assess their income ceilings and pursue avenues for greater financial freedom aligned with their long-term goals.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://NomadCapital.us/team/View the Episode Description & Transcript Here:https://reidiamonds.com/transforming-big-box-retail-into-self-storage-a-conversation-with-clint-harris/Clint Harris & I Discuss Transforming Big-Box Retail into Self-Storage:• Conversion & Challenges of Big Box Retail to Self-Storage (3:34)• Optimal Investment Structure and Returns (10:03) • Strategic Property Acquisitions: How to leverage prime locations and capitalize on market demand (20:09)• Changing Consumer Behavior: Adapting storage offerings to meet the needs of modern renters, especially millennials (25:53)• Stabilization and Occupancy: Achieving high occupancy rates through effective marketing strategies and competitive pricing (30:19)• Calculating risk in the pursuit of financial freedom (40:13)

Episode 246: Real Estate Development with Darcy MarlerGuest: Darcy Marler is a seasoned real estate investor and developer with over two decades of experience in flipping houses, rental properties, land development, and new construction. From an MIT graduate to a successful real estate entrepreneur, Darcy's journey has been marked by valuable lessons and insights. Passionate about transforming raw land into subdivided lots ready for construction, Darcy specializes in building and flipping houses, duplexes, and small multifamily properties. Big Idea: In this episode, Darcy Marler delves into the transition from fixing and flipping houses to land development and new construction, stressing the need to align real estate strategies with personal preferences. He outlines risk mitigation and profit maximization strategies, emphasizing the substantial benefits of new construction, including higher returns, better tenants, and efficient management. Darcy highlights advantages such as ease of financing and incentives for developers addressing the housing crisis. He underscores opportunities for smaller investors in smaller-scale projects like multifamily units or residential development. Understanding market demand, leveraging financing, and exploring exit strategies are key takeaways for maximizing returns in real estate development.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://www.hrrealestatementors.com/View the Episode Description & Transcript Here:https://reidiamonds.com/real-estate-development-with-darcy-marler/Darcy Marler & I Discuss Real Estate Development:• Budgeting and Risk Management in New Construction (3:31)• Philosophies on Holding vs. Selling Properties (10:02)• Pre-Selling Land vs. Building Spec Homes (15:54)• Identifying Potential Land for Development & Subdividing (18:21)• Evaluating Opportunities in Aging Neighborhoods (23:16)• Benefits of new construction for rental properties (36:38)• Importance of demographics and location in real estate investment (45:36)• The significance of partnerships and operational support in real estate ventures (49:48)Relevant Episodes: (200+ Content Packed Interviews in Total)• Lease Option – Rent to Own Real Estate Investing with Adam Zach• Reverse Wholesaling with Kent Clothier of REWW• Josh Inglis on Building New Construction & Selecting Rentals on Chicago’s South Side• How to Buy Land with No Money Down with Mark Podolsky

Episode 244: Lease Option - Rent to Own Real Estate Investing with Adam ZachGuest: Adam Zach, is a seasoned real estate investor, with over a decade of experience in real estate. Adam brings a wealth of knowledge and shares his remarkable journey from humble beginnings in North Dakota to building a diverse portfolio spanning multiple states, highlighting the importance of leveraging unique advantages and taking calculated risks to achieve success in the dynamic world of real estate investment.Big Idea: In the episode, Zach and I delved into the strategic approach to real estate investment and risk mitigation. Zach emphasized the significance of leveraging unique advantages and taking calculated risks to build a successful portfolio. From implementing innovative strategies like guarantor bond policies to minimize risk in rental processes to scaling real estate syndication through strategic partnerships and digital marketing, our discussions highlighted the importance of forward-thinking, disciplined decision-making, and adapting business models to evolving market conditions. Through his own journey and experiences, Zach underscored the critical role of strategic foresight, disciplined execution, and risk management in achieving long-term success in the dynamic world of real estate investment.This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%.  Buy & Hold Loans Offered Even Lower.  Get a FREE IPad when you Close Your First Deal by Registering Now at  http://REILineOfCredit.comResources mentioned in this episode:https://HomeEquityPartner.com/investors/ View the Episode Description & Transcript Here:https://reidiamonds.com/lease-option-rent-to-own-real-estate-investing-with-adam-zach/Adam Zach & I Discuss Lease Option - Rent to Own Real Estate Investing:• Business Model Evolution: Transitioning from traditional rental properties to lease option models for sustainable cash flow and reduced turnover. (00:04:07)• Guarantor Bond Policies: Exploring how Guarantor policies work and their impact on tenant screening and security deposits. (00:13:29)• Syndication Funds: Exploring the structure and returns of syndication funds for investors, including preferred returns and profit splits. (00:23:00)• Tax Benefits and Depreciation: Adam elaborates on the tax advantages passed on to investors through syndication deals, including depreciation benefits. (00:30:35)• Chess as a Brain Development Tool: Adam reflects on the parallels between playing chess and developing strategic thinking, risk assessment, and delayed gratification from an early age.(00:39:51)• The Power of Partnerships: Insights into the benefits of strategic business partnerships in mitigating risks, sharing resources, and aligning interests for mutual success. (00:44:15)