The Wisdom, Lifestyle, Money, Show

Jeffrey Woods, a full-time real estate investor, shares his journey from starting out as a broke college student to building a successful real estate portfolio. He emphasizes the importance of education and learning from experienced investors. Jeffrey also discusses the benefits of joint venture partnerships and using other people's money to scale his investments. He highlights the challenges and lessons learned along the way, including the importance of vetting partners and effective communication. Jeffrey is now focused on investing in the United States, specifically targeting states like North Carolina and Georgia, due to better investment opportunities and favourable landlord laws.

• (00:00) - Introduction and Background
• (01:13) - Getting Started in Real Estate Investing
• (08:08) - The Benefits of Investing in Certain States in the US
• (10:52) - Choosing North Carolina and Georgia for Real Estate Investment
• (15:30) - Advantages of US Landlord-Friendly Regulations
• (20:08) - Investing in Residential Property with Commercial Mortgage Criteria
• (22:29) - The Dominican Republic: Lifestyle vs. Real Estate Investment
• (26:18) - Networking and Collaboration for Success

If you're serious about real estate investing, join our free Investors Hub. Click this link to access now.

Takeaways

• Education and learning from experienced investors are crucial for success in real estate investing.
• Joint venture partnerships and using other people's money can help scale investments.
• Vetting partners and effective communication are key to successful joint venture partnerships.
• Investing in the United States, particularly in states like North Carolina and Georgia, offers better investment opportunities and favorable landlord laws.

If you're looking to access the best financing for Real Estate Investors in Canada & the U.S.A., then I suggest you Book A Free Strategy Call with a specialist on my team.

Here are the best ways I can help you as an Investor:

Investor Network Access

• Run the numbers like a pro of any property.
• Access Insider Events, ONLY for members.
• Network with other investors.
• Create joint venture partnerships.
• Get direct access to a team of experts.
• Get preferred interest rates on mortgages & lending products.
• Ask questions and get answers for any investing challenges you have.

Book A FREE Strategy Call With My Team

• Discover the financing options available to you.
• Create the proper financing structure for success.
• Get your portfolio reviewed and identify weak properties and ares to access equity.

Show Summary:

In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham welcomes Sam Claussen, the head of growth at Reflect app. Reflect is a note-taking app designed for business owners and investors to keep track of their projects and tasks. Sam demonstrates the features of the app, including voice notes transcribed by Whisper AI, a built-in calendar, and the ability to create and organize notes using tags and backlinks.

Sam explains that note-taking is essential for entrepreneurs and founders who juggle multiple projects. Reflect simplifies this process with its user-friendly interface and customizable note-taking system. The app offers a Daily Notes format, where users can organize their tasks and log their activities. Meetings can be integrated into the notes, allowing users to take notes during brainstorming sessions or team meetings. Reflect also provides a contact list feature that acts as a personal CRM, helping users track their relationships and relevant information.

The conversation shifts to the use cases for Reflect, specifically in real estate investing. Scott and Sam discuss how the app can be utilized to manage rental properties. Users can create notes for each property, add tags for easy organization, and document details such as tenant information, property managers, and maintenance tasks. By utilizing backlinks, users can quickly navigate between related notes and maintain an organized system for property management.

The episode further explores the AI capabilities of Reflect. Sam demonstrates how voice notes can be transcribed with high accuracy using Whisper AI. The app's AI assistant offers various prompts that automate note creation and formatting. These prompts can be customized, allowing users to generate to-do lists, summaries, and detailed action items from their notes. Sam mentions other AI features, such as an executive assistant plugin that divides meeting notes into key takeaways and action items. He also mentions the possibility of using AI to suggest YouTube video tags and integrate property alerts from sources like Zillow into Reflect.

Sam concludes the episode by discussing the future developments planned for Reflect, including the implementation of a local AI system. This would enable advanced features like semantic search and the ability to ask questions based on the content of notes. The goal is to enhance the organization and retrieval of information within the app, providing users with a powerful tool for managing their projects and tasks.

To try the app on a free trial visit https://reflect.app/

To see what Sam is up to visit https://www.startupcookie.com/

Here are the best ways I can help you as an Investor:

Investor Network Access

• Run the numbers like a pro of any property.
• Access Insider Events, ONLY for members.
• Network with other investors.
• Create joint venture partnerships.
• Get direct access to a team of experts.
• Get preferred interest rates on mortgages & lending products.
• Ask questions and get answers for any investing challenges you have.

Book A FREE Strategy Call With My Team

• Discover the financing options available to you.
• Create the proper financing structure for success.
• Get your portfolio reviewed and identify weak properties and ares to access equity.

Show Summary:

Adam El-Dika, the sole owner of Wam and Windsor, shares his story on the Wisdom Lifestyle Money Show. He grew up in Windsor, Ontario, attended school there, and then moved to Lebanon with his family at the age of 17. After completing high school in Lebanon, he returned to Windsor and attended university, studying biology. However, he quickly realized that teaching was not the right path for him. During this time, he started working at a restaurant and gained experience in the industry.

Adam and his team opened Mario Nostrom, their first restaurant, after winning a request for proposal (RFP) process. They later opened a second location in Kingsville and launched a retail food division. However, when the COVID-19 pandemic hit, they had to pivot their business entirely. They closed down for a period and then started a home delivery service to supplement their operations. They also noticed a demand for burgers and decided to offer smash burgers with unique features like using Martin's potato buns and branding the buns with the phrase "Bite me up."

Organization and time management were key lessons Adam learned throughout his life, which became even more important when managing multiple business ventures. During the pandemic, they faced challenges such as increased costs, labor shortages, and external uncertainties. However, they adapted and focused on long-term planning now that lockdowns and restrictions are not a concern.

Regarding delivery, they utilize a point-of-sale system called Touch Bistro, which integrates with DoorDash for delivery. By ordering directly from them, customers can avoid the higher prices and additional fees charged by third-party delivery platforms. Adam also explains the concept of smash burgers, where freshly ground beef is smashed on a griddle, creating a crispy crust while maintaining a soft interior. They offer halal chicken options and are actively seeking halal beef products.

When choosing a location for a business, Adam emphasizes the importance of proximity to the expressway, which increases delivery radius and accessibility. Being on a bus route is also crucial for accessing the labor force, especially in a student-dominated market like Windsor. While the mall could be a good option, there may be restrictions due to non-compete agreements with existing restaurants.

Overall, Adam's journey in the restaurant industry has involved adapting to challenges, embracing new opportunities, and focusing on customer satisfaction.

In this episode, the admins of LendCity discuss the mortgage process and the importance of proper documentation. They share their experiences and lessons learned in the mortgage industry. They emphasize the need for accurate and complete documentation, including job letters, pay stubs, and identification. Not only that, but they also discuss the importance of listing assets on the application and provide tips for preparing for a home appraisal.

• (00:00) - Introduction and Background
• (00:49) - Lessons Learned in the Mortgage Industry
• (04:10) - Proper Documentation Requirements
• (08:01) - Identification and Asset Requirements
• (09:28) - Documentation for Rental Properties
• (12:08) - The Role of Assets in the Mortgage Application
• (14:26) - Preparing for a Home Appraisal

If you're serious about real estate investing, join our free Investors Hub. Click this link to access now.

Takeaways

• Getting a mortgage is simpler than originally thought, but it depends on the individual's situation.
• Proper documentation is crucial in the mortgage process.
• Job letters should be typed, on letterhead, and signed by a superior or HR.
• Pay stubs should have the employee's name, employer's name, and accurate year-to-date information.
• Two pieces of government ID are required for verification, but health cards are not accepted.
• For rental properties, recent leases, tenant acknowledgement forms, and T1s may be required.
• Listing assets on the application can help with purchasing power and provide options for creative financing.
• Preparing for a home appraisal includes cleaning the house, highlighting any recent improvements, and ensuring the property is presentable.
• The admins are available to answer questions and provide assistance throughout the mortgage process.

If you're looking to access the best financing for Real Estate Investors in Canada & the U.S.A., then I suggest you Book A Free Strategy Call with a specialist on my team.

Here are the best ways I can help you as an Investor:

Investor Network Access

• Run the numbers like a pro of any property.
• Access Insider Events, ONLY for members.
• Network with other investors.
• Create joint venture partnerships.
• Get direct access to a team of experts.
• Get preferred interest rates on mortgages & lending products.
• Ask questions and get answers for any investing challenges you have.

Book A FREE Strategy Call With My Team

• Discover the financing options available to you.
• Create the proper financing structure for success.
• Get your portfolio reviewed and identify weak properties and ares to access equity.

Show Summary:

In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham hands over the mic to mortgage agent Michael Citron and his guests, realtors Milena, Simsek, and Clark Galley. They discuss the challenges of starting a real estate team during a housing crash and how the market has shifted. Milena mentions that while the boom in February and March made it easy to sell houses, the current market is more challenging. Clark emphasizes the need to adapt and change strategies in this new environment, highlighting that what worked in the past may not work anymore.

The conversation also touches on the shift in focus from sellers to buyers in the current market. Michael notes that the refinance business has decreased significantly, and Milena shares that many clients are opting for refinancing instead of selling their properties at a loss. They discuss the discrepancy between sellers and buyers, with Clark mentioning that many sellers would rather refinance and prolong the financial strain than sell at a significant loss. They also speculate on when the market might hit rock bottom and when investors will reenter the market.

The guests further explore the current state of the real estate market in Windsor, Ontario, noting the ratio of sales to listings and the expectation of desperate sellers. Milena mentions that many properties that didn't sell in July were likely pulled off the market, with sellers choosing to ride out the storm through refinancing. They discuss the waiting game of investors and the potential for a surge of buyers once the market hits rock bottom. Michael and Clark highlight the opportunity for buyers right now, but they also anticipate challenges in getting offers accepted when the market picks up again.