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Crazy Sh*t In Real Estate with Leigh Brown

Crazy Sh*t in Real Estate!—a podcast that will shatter the HGTV-induced veneer of real estate, and celebrate the challenges of working in this wild, wacky business.
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Crazy Sh*t In Real Estate with Leigh Brown
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Now displaying: June, 2020
Jun 25, 2020

Plot twist! This episode is an interview of yours truly by Greg Fowler on the Real Estate Titans podcast. Whether you think you already know everything there is to know about me or you’ve always wondered what I’m all about, this episode is a deep-dive into the real, uncut life and inspirations of Leigh. Listen in to hear my journey, what I’ve learned along the way, and why I’m so damn excited about real estate. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

  • 02:45 – Introducing Leigh
    • 03:00 - She’s originally from Concord, North Carolina, has been in real estate for 20 years and previously sold chainsaws, lawnmowers, and weed trimmers 
    • 03:45 - She’s got a husband, two kids, and three cats; she runs, plays piano, and sings 
  • 05:00 – Why Leigh chose real estate
    • 05:05 - Her father has been in the industry since 1978; she helped her dad as a kid and he made her get her license “just in case”
    • 05:24 - She bartended in college, became a stockbroker, then went to Husqvarna to work in sales
    • 06:50 - They moved her around and she didn’t want to move anymore, so she called her dad and he recommended she get into real estate
    • 07:08 - She loves the industry especially the spaces she had no idea existed before she dove in, like speaking, training, and brokering
  • 08:20 – Leigh’s “WHY”
    • 08:40 - In retail real estate, she primarily works with sellers; she gets excited when she helps people navigate the minefield of real estate
    • 09:10 - She loves the drama and the interesting things that happen unexpectedly
    • 09:13 - One time, a closing blew up because the buyer got in a car accident and no longer had down payment money; she had to problem-solve through it
    • 09:45 - With speaking, Leigh is motivated to help others elevate their position in real estate; she falls in love with other people’s potential
    • 12:00 - She’s always thinking about the highest and best use of her time and recommends everyone do the same for their unique service offering
    • 14:00 - Leigh learned that her big why wasn’t simply in the numbers of homes sold; she wanted to make a difference in a significant and impactful way
    • 15:22 - In 2009 she started volunteering at the association and saw what others were doing in the space; she’s been a different person since
  • 16:45 – About RPAC - The REALTORS® Political Action Committee
    • 18:35 - They do the work of what would be a National Association of Homeowners if we had one
    • 18:45 - The RPAC goes in to fight fires with facts about regulatory burdens, bad zonings, and affordability issues
    • 21:00 - REALTOR® political advocacy is powerful; it’s been shown to make an impact nationwide
    • 24:00 - It’s important to talk about the benefits of homeownership; Millenials are spoiled by swanky rentals and that’s why they aren’t buying
    • 24:51 - The American homeowner rate is 61.4%, but we should be at 67-68%; the African American homeownership rate is 42.6%, it’s too big a gap
    • 26:15 - Homeownership means financial stability and everyone needs to be educated on that; that’s where REALTORS® need to come in
  • 27:00 – How to get involved
    • 27:07 - Go to NAR.realtor and look at the resources available; use them to educate people, neighbors, and clients
    • 29:00 - Demonstrate who you serve with your marketing; look at diversity and commonalities
    • 30:35 - Research, go to your association and remember that you are at the cornerstone of homeownership
  • 35:50 – A couple of things that Leigh added to her business to get to the next level
    • 36:05 - Outbound phone calls; all you need for your real estate business is already in your hand 
    • 37:45 - In her office, everyone does at least one outbound call a day; say “If you need me call me back”
    • 38:20 - The secret sauce to real estate is hard work and discipline; Millenials who make outbound calls are way ahead of the game
    • 39:00 - Send out stationary and send out snail mail; it doesn’t have to be hard, 5 notes a day and one call a day will make your business grow
    • 39:40 - Real estate is about being likable; you need to be competent and knowledgeable but likeability comes first
  • 41:00 – Learning experiences
    • 41:20 - Financial discipline; Leigh learned this the hard way when she got a bill from the IRS for $19,000 at 25-years-old
    • 42:30 - Prepare for lean times; always pay your state DOR first before the IRS because they’re more aggressive
    • 43:50 - Get incorporated to benefit your bottom line; give back first and there will always be enough
    • 45:45 - She wants to help more NAR members own homes because 30% don’t own
    • 46:30 - She loves her team and realizes how valuable they are; she’s also learned how to say “no” 
    • 48:30 - She has learned how to thank her client’s and appreciate their willingness to accommodate and help, too
    • 50:30 – Advice Leigh would give her younger self
    • 50:42 - She would tell her younger self to give 0 f*cks; she cared too much about what others thought
    • 51:30 - When she found her voice, she didn’t what to put it away; she would recommend listening better and hugging people more
    • 52:11 - Slow down, listen, adapt if you want, but don’t be afraid to say what you think; the way you say things matters more than what you say
  • 56:00 – On learning
    • 56:30 - She’s a bibliophile and she works with Dan Sullivan inside Strategic Coach
  • 01:00:00 - Leigh’s books: Outrageous Authenticity, 7 Deadly Sins of Sales, and Peeling the Onion

3 Key Points

  1. Speak up and ask! 
  2. Don’t forget to think about and nurture others. 
  3. Reach out, get involved, listen, and build better relationships.
Jun 18, 2020

Tax-free. Now that I’ve got your attention, Dave Foster, the founder and 1031 Exchange mastermind behind The 1031 Investor, is a pro when it comes to leveraging tax codes to maximize your investments and sell them tax-free. Whether it’s for investment properties or even your primary residence as a real estate professional (in Dave’s case, a boat for 10 years!), there are ways to legally maximize your profits with every transaction. Listen in to hear Dave’s strategy and investing advice — and learn how it has worked for his family and clients.

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

  • 01:30 – Introducing Dave, who got into real estate after having his son and wanting to spend more time with family
    • 02:10 - He and his wife didn’t want to sacrifice their lives to a career; they got into the last real estate rush before the crash and bought a property in Denver
    • 02:55 - His accountant broke the news that, after taxes, he actually didn’t make much profit for all the work; then he learned about the 1031 exchange
    • 03:30 - Now, for the past 20 years, he’s been doing them for himself and others
  • 05:30 – Dave’s CSIRE story
    • 05:45 - He and his wife turned a real estate investing career across four different markets into a sailboat that they lived on for 10 years with all four of their boys
    • 06:30 - They used investment money to pay for it and used Section 121 for their primary residence
    • 07:00 - On Section 121: If you live at a property that you own for 2 out of 5 years, you can take the first $500,000 in profit tax-free
    • 08:00 - You can use that once every two years; it’s not a once-in-a-lifetime opportunity so you could take profit tax-free 8-9 times over a lifetime
    • 08:50 - You don’t have to keep your 1031 real estate as investment real estate forever; he and his family combined the 1031 and Section 121 to pocket the profit
  • 10:40 – Another CSIRE story
    • 10:50 - One of the homes they lived in was a set to a movie called Reservation Road; then they went to Florida
    • 13:00 - He has friends that are leveraging the 1031 Exchange and Section 121 to fund their retirement
    • 13:55 - 1031 Exchanges require the use of an intermediary and a QI to make sure everything aligns with the law; there are regulatory hoops to pass
    • 14:50 - Real estate that qualifies for 1031 Exchange must be intended for use and to hold; Dave had a friend who wanted to sell after a month
    • 15:20 - He did intend to hold it, which was in a contract, but the tenant moved out unexpectedly due to a bear that moved in next to her trash can
    • 17:25 - He did the 1031 Exchange and everything was fine; the intention was there
  • 17:50 – Dave’s piece of real estate investment advice
    • 18:00 - You make money when you buy, and you keep your money when you sell; as long as you own the property or sell it into another 1031, you’ll never pay the tax
    • 19:00 - When you die, it doesn’t matter how much tax you have built up; your heirs get it as though they paid market value for it so that tax goes away
    • 19:22 - Buy it right, sell it right, and enjoy making money for yourself and your heirs 
  • 19:55 – How to get in contact with Dave: his website and go here for a $50 coupon on your next 1031 Exchange deal

3 Key Points

  1. Get educated on the 1031 Exchange. 
  2. Research Section 121 and see how you can leverage it!
  3. Don’t do something just because you think you can get away with it but don’t not do something because you’re afraid of getting questioned about it.
Jun 11, 2020

Need some motivation? David Greenspan the founder and CEO of MindShare 101, has got some inspiration for you! Whether you’re an early bird or a night owl, there’s no excuse for not checking things off your to-do list and moving towards your big goals. Listen in to hear what David thinks about online “pollution”, what he thinks we should be doing instead, and what he finds to be the biggest disruptor in the real estate industry today. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

  • 00:30 – Introducing David, the founder and CEO of MindShare 101, the host of the MindShare podcast, and a speaker, marketing strategist, and coach
    • 01:00 - His company helps people provide value, get their message across, and get in front of their ideal client
  • 03:20 – The CSIRE that David’s seeing recently
    • 03:25 - Business has not stopped; this will be over soon and you want something to show for it
    • 04:04 - People are very active on social media; he’s seeing a lot of “pollution” in Facebook groups, people feeling like victims while attacking others
    • 04:40 - When people read your words, they don’t get the full communication of what you’re saying, so be careful
  • 07:00 – The lesson
    • 07:35 - Help people, watch your words, and make the world a better place; don’t be negative and selfish
    • 08:00 - Ask yourself: What have you done to communicate with people to see how people are doing, offer support, and build relationships?
    • 09:05 - Be genuine; when this is all over, your relationships will be huge for you, personally and professionally
  • 10:30 – David’s CSIRE stories
    • 11:00 - He’s seen people at conferences take fake money from underneath a marketing booth as part of a marketing gimmick
    • 11:25 - People complain about time management, money management, and business growth; he had a client who didn’t start his workday until 4 pm
    • 12:45 - Not everyone is an early bird; as long as you get done what you need to in a day, it’s ok
    • 13:25 - He knew another person who watched a movie every morning when he woke up; it’s fine to do that unless you complain that you don’t have time
  • 15:00 – For consumers
    • 15:20 - Ask if your REALTOR® is an early bird or a night owl; it could impact the way you communicate
  • 16:05 – On the biggest disruptor in the real estate industry
    • 16:09 - People embracing technology are the biggest disruptor; 70% of business comes from referrals, but people spend 70% of their dollars on new contacts
    • 19:40 - Referrals are going to be more important than ever
  • 20:45 – How to get in touch with David: his website, Instagram, and his podcast 

3 Key Points

  1. Be careful about what you share online. Don’t pollute.
  2. Use this time to get some work done! 
  3. Leverage referrals whether you’re a consumer or a REALTOR®.
Jun 4, 2020

Want to become a real estate investor without all the heavy lifting? Jeff Schechter, the CEO and co-founder of High Return Real Estate, has created a solution for investors who want to add more real estate to their portfolio without adding more headaches. Because he lives and works in Indianapolis, Indiana, his clients rest easy knowing he and his team are just a hop and a skip from their properties. Listen in to hear Jeff’s crazy experience with trashed homes and shady infrastructure regulation - and learn how to make sure you’re up-to-date on the local politics that could impact your bottom line. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes

  • 00:30 – Introducing Jeff, the CEO and co-founder of High Return Real Estate in Indianapolis, Indiana
    • 00:50 - His company is a turnkey solution for real estate investors/ owners who don’t want to manage their properties but want to reap the benefits
    • 01:50 - He got into the industry through his digital marketing agency; a client wanted to chat with him about a potential business idea
    • 02:45 - After a call and brainstorming session, High Return Real Estate was born; they are a by-investors-for-investors company
  • 04:50 – On being in lower-to-middle priced areas
    • 05:22 - They make sure tenants are safe and taken care of while still making sure the investor is maximizing their investment; their processes are transparent
    • 06:20 - Their clients are mostly out-of-state; rent control in the other states could be a factor
    • 07:35 - Real estate is cyclical; Jeff believes in the free-market economy and sees the coronavirus economy as part of the natural cycle 
    • 09:30 - They consider the price-to-rent ratio when thinking about which markets to enter; they also consider landlord-friendly laws
  • 12:00 – Jeff’s price-to-rent ratio formula
    • 12:05 - They’ve started using a percent rule on their worksheets; the use a “gross rent multiplier” and starts at 1%
    • 13:15 - Sometimes they get deals from wholesalers, hedge funds, and by researching; they have a lot of valuable relationships and can buy things cheaper
    • 14:00 - They have merit because they’re local; they don’t mark up their prices a lot because they work with volume
    • 15:15 - Their markup is basically on the construction and re-hab; gentrification is happening in the city and is causing some upper price pressure
  • 16:40 – Jeff’s CSIRE story
    • 17:00 - Sometimes it’s mindblowing how people leave a property; part of the rehab cost is the cleanup and sometimes a professional crew needs to come it
    • 18:12 - They did a beautiful rehab to property but there was an issue with a water meter and crawlspace; they fixed in and the city rejected their work
    • 18:40 - They wanted a line created to the street; they wanted the owners to pay for the infrastructure if they wanted water to flow to the property
    • 20:40 - Pay attention to local politics and infrastructure, be involved, and as an investor work with people that live and know the area
  • 21:45 – How to contact Jeff: go to the High Return Real Estate website and check out the High Return Real Estate Show

3 Key Points

  1. Consider the price-to-rent ratio as an investor. 
  2. Pay attention to local politics where you choose to invest. 
  3. Engage with a team that is local when looking to invest elsewhere.
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