Legally Ever After: Real Estate

Wealth Building Mechanics for Real Estate Investments

“What makes real estate so attractive is that there is the opportunity to apply methods and strategies to earn extraordinary returns,” explains Chris Lopez, Podcaster, Author, and Software Influencer. With an established system for helping real estate investors, Chris understands how to navigate the industry. In today’s episode, he provides the wealth-building mechanics to help investors get to the next level.
Although there are many ways to accumulate wealth through real estate, Chris recommends re-leveraging. Taking equity from an existing property and investing into another asset can lead to a higher return on investment. Whether you choose a cash out refinance or utilize a 1031 exchange, you can use your capital as a leverage into a higher performing portfolio.
If you want to build wealth, there are opportunities available. Learn more about determining your investment strategy, how ROIs in real estate work, and why you should raise your rents to keep up with the market.
Quotes
“What makes real estate so attractive is that there is the opportunity to apply methods and strategies to earn extraordinary returns.” (1:43-1:56 | Chris)
“Be true to yourself because the square peg/round hole is not a great recipe for success. Plus, that's what causes friction.” (3:04-3:12 | Chris)
“If you want more returns, you have to re-leverage. Re-leveraging is the biggest return factor in real estate.” (19:34-19:41 | Chris) 
“​​It's very powerful to bring people together so they can network, learn from others, while also seeing how their portfolio is doing and exploring potential opportunities.” (25:43-25:52 | Chris)
“I want to leave the world a slightly better place than I came into it.” (30:33-30:36 | Chris)
 
Links
 
Connect with Chris Lopez:
Website: https://www.denverinvestmentrealestate.com/ 
Propertyllama: https://www.denverinvestmentrealestate.com/say-goodbye-to-spreadsheets-with-propertyllama-our-new-real-estate-analysis-software/
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Insurance Tips for Real Estate Investors

“It's important to review your policy every year because things change, codes change, and policies change,” explains Aaron Beckman, Madison Insurance Group. An insurance professional, Aaron understands the tricks of the trade. Today, he shares his insight to help investors navigate the insurance process and determine their best practices.
If you’re an investor, it’s likely you have tenants. It may seem obvious, but having different insurance for different tenant relationships is crucial. If you have long-term tenants, your policy must reflect that, and vice versa with short-term rentals. Ultimately, you should ensure that all your bases are covered to gain ultimate protection.
If you’re an investor, navigating the complications of insurance is critical. Learn more about listing your insurance under your LLC, the importance of having a clear rental agreement, and what to look for in an insurance advisor.
Quotes
“If you're going to move your investment properties into another entity outside your name, whether a trust or an LLC, make sure your policy has the name of who owns that property listed on the policy.” (00:54-1:11 | Aaron)
“An insurance contract is the most sold and least read contract that people buy and enter into.” (6:11-6:16 | Aaron) 
“It's important to review your policy every year because things change, codes change, and policies change.” (7:34-7:40 | Aaron) 
“If you're an investor getting into development, sit down and have a lengthy conversation with your insurance broker and lawyer and put good controls in place to protect yourself.” (9:29-9:46 | Aaron) 
“If it's too easy to get insurance, it's probably not the right insurance.” (12:40-12:46 | Aaron)
“A legacy is something that lives on when you stop working.” (18:08-18:12 | Aaron)
 
Links
 
Connect with Aaron Beckman:
Website: www.madisoninsurance.net
Email: abeckman@madisoninsurance.net
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
 
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
 
Learn more about Law Mother at LawMother.com

Tax Strategies for Real Estate Investors

“By default, real estate investment is considered a passive activity, meaning you're going to get taxed if you make money,” explains Adam Laarsen, CPA. With his expertise, Adam shares the best tax strategies for real estate investors. Whether you are a residential or commercial investor, tune in today for invaluable tips before tax season.
If you have an investment property, it’s essential to keep track of potential deductions. Anything you do to maintain your household could qualify. Whether you are paying for cleaning services, repair maintenance, or even an HOA cost, keeping track of your receipts will come in handy. Although you will always have to pay taxes, you can make the most of your financial benefits as an investor.
Make sure you know all the information before filing your real estate taxes. Learn more about the different strategies for commercial and residential investors, common tax mistakes, and demystifying the 1031 exchange.
Quotes
“Real estate investment is probably one of the best strategies outside of getting more money for your property.” (2:57-3:02 | Adam)
“I would advise everybody to talk to their own tax professional about what basis is.” (8:11-8:17 | Adam)
“By default, real estate investment is considered a passive activity, meaning you're going to get taxed if you make money.” (13:39-13:48 | Adam) 
“I don't want people to be scared of taxes. I find it unfortunate that in today's education system, people aren't necessarily taught how to prepare taxes.” (31:15-31:28 | Adam) 
 
Links
 
Connect with Adam Laarsen:
Website: https://laarsenandassociates.com
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Wealth Management for Real Estate Investors

“As a wealth manager, I'm a big believer in leverage,” explains Caleb Collier, Vice President & Investment Adviser. Caleb understands how real estate investors can leverage their capital as the market changes. Although there are always challenges, tune in today to learn unique tips to bolster your equity and build your portfolio.
Unlike many investment advisers, Caleb, and his firm, have always been real estate friendly. With his extensive knowledge in mind, Caleb recommends advanced planning. When you start investing early, it’s easier to see how you can leverage your capital into another income stream. Although many people focus on the active management of their properties, there are ways to transition into passive investing, which can lead to a healthy retirement.
Accumulating working capital is critical if you’re a real estate investor. Learn more about the benefits of a properly structured life insurance contract, finding the right wealth manager, and the truth about interest rates.
 
Quotes
“There are some unique strategies we can use to help clients capture the working capital they're accumulating with their real estate business while they're not using it.” (1:34-1:45 | Caleb)
“As a wealth manager, I'm a big believer in leverage.” (2:53-2:56 | Caleb)
“Life insurance, as an investment and a place to store value and earn interest, has to be set up properly.” (6:26-6:35 | Caleb)
“Keep an eye on that working capital. It's just amazing how quickly it can accumulate.” (18:24-18:30 | Caleb)
“For people who have saved a lot of value and working capital, the interest opportunities now have increased 200, 300, 400% for safe investments that don't have principal risks.” (23:01-23:14 | Caleb) 
 
Links
 
Connect with Caleb Collier:
Website: https://www.collierfinancial.com/team/caleb-collier
Email: info@collierfinancial.com
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Protecting Real Estate from Divorce

“When you've got something as complex as real estate investments, it can be overwhelming for many people,” explains Ryan Kalamaya, Family Law Attorney. Many couples do not know how to protect their real estate in case of divorce. Today, Ryan educates the listeners on the legal steps needed to ensure that no matter what happens, your properties remain yours.
Before getting married, Ryan recommends negotiating a premarital and post-marital agreement. Without these contracts, it may add further complications to an already taxing divorce process, especially when significant wealth is at risk. By hiring a trustworthy attorney, you can determine what you want from your divorce and ensure that all parties get what they need.
You can’t always predict if a marriage will last, but you should always be able to protect your assets. Learn more about handling inherited properties, martial agreement tips, and common real estate mistakes people make during divorce. 
 
Quotes
“Real estate is great for the long term, but it is not the most liquid asset.” (13:14-14:19 | Ryan)
“When you've got something as complex as real estate investments, it can be overwhelming for many people. It's a real challenge.” (15:54-16:12 | Ryan)
“If someone tries to extract every single cent, and they're not speaking, and the kids are in therapy because the parents can't get along, that seems to be a failure, in part, by the lawyers to help people move on to better places.” (25:52-26:10 | Ryan)
“My practice, even though I deal with divorce, is to try to lead by example. One of the things I enjoy most about my practice is being able to help people become better parents, business owners, and real estate investors.” (33:23-33:42 | Ryan) 
 
Links
 
Connect with Ryan Kalamaya:
Website | www.kalamaya.law
Ryan | https://kalamaya.law/our-team/ryan-kalamaya/
LinkedIn | https://www.linkedin.com/in/kalamaya/
Podcast | https://divorceataltitude.buzzsprout.com 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Finding Money for Real Estate Investments with Holly Gallegos

“I think my legacy really is trying to give people financial advice,” explains Holly Gallegos, Senior Vice President of First Bank. With her background in finance, Holly understands the tips and tricks for securing money to invest in real estate. If you’re an investor looking to increase your portfolio, gaining insight from Holly’s advice will be invaluable.
For first-time investors, taking equity out of your primary residence is a way to find the money for outside investing. With many people not realizing how much equity is in their property, Holly recommends exploring if this path is a viable option for you. However, home equity is not the only way to break into the real estate industry. Whether you try a 1031 Exchange or use your IRA, there are many ways to gain the funds to purchase real estate. 
Although it may seem challenging, it is possible to break into real estate investing. Learn more about leveraging your home equity, building up a fix-flip business, and common mistakes to avoid when seeking investment funding. 
Quotes
“​​One thing that a lot of people don't know is you don't always have to do the same type of real estate. If you're selling a one to four-family property, you don't necessarily have to go buy another one to four-family property. You could sell several one-to-four families and 1031, into an apartment building, for example. Or you could sell an apartment building and put that money into an office condo.” (2:44-3:10 | Holly)
“We at First Bank can do self-directed IRA loans, which is a product that almost no other banks can do.” (8:49-8:55 | Holly)
“We're able to do what I would call common sense underwriting. So we can look at your global net worth, cash flow, repayment history, all of those things, and just be a little more flexible.” (11:34-11:49 | Holly) 
“I think one unique thing about us is that we can help you with everything from a HELOC to an apartment building or development loans. So it's kind of a one-stop shop.” (20:17-20:28 | Holly)
“I think my legacy really is just trying to give people financial advice.”  (20:56-21:03 | Holly)
Links
Connect with Holly Gallegos:
Phone | 303.347.5950
Website | efirstbank.com
Email | Holly.Gallegos@efirstbank.com
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Construction Defect Tips from Attorney Carin Ramirez

“If you’re buying something as an investment, you want to make sure you know what you're buying,” explains Carin Ramirez, Attorney. With her expertise in construction defect litigation, Carin provides helpful tips on handling this process. If you’re an investor considering purchasing a new property or starting construction, tune in today to learn about the potential red flags you should keep in mind to make the best choice possible. 
When leading construction on a real estate investment, the main thing to consider is ensuring that you have adequate insurance. You may think your coverage is enough, but if you find out later that you’re underinsured when a building issue arises, you may have to pay more than expected. To avoid this dilemma, Carin recommends finding a quality insurance broker who understands your situation and can protect you and your assets.
If you’re buying an investment property, you need as many construction defect tips as possible. Learn more about the benefits of newer construction, how to evaluate the insurance you need, and why you should pass on buying a stucco building.
Quotes
“If you’re buying something as an investment, you want to make sure you know what you're buying.” (4:54-4:59 | Carin)
“If the foundation of a building moves and things start cracking, sometimes you have to tear the building down. Sometimes you can fix it, and sometimes, you can't. It can be a devastating problem for a building.” (13:50-14:00 | Carin)
“No one wants to pay extra for more insurance, but you also don't want to get into a situation where you're underinsured because someone can come after you personally.” (15:20-15:30 | Carin)
“Building science is always developing and changing. The way things are built changes, and then new problems arise.” (22:03-22:09 | Carin)
“I think we should all help each other get through problems. And that's what I try to do for folks I work with, live with, or are friends with.” (24:30-24:38 | Carin) 
Links
Connect with Carin Ramirez:
LinkedIn | https://www.linkedin.com/in/carin-ramirez-3154417/
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com

Property Management Tips for Investors with Greg Bacheller

“Getting the right property at the right price is pivotally important,” explains Greg Bacheller, Owner of Real Property Management Colorado. After growing up, studying, and building his business in Colorado, Greg understands this market and what investors need to do to manage their properties. In fact, Greg started his business with no properties and one employee and has since then hired 30 amazing employees to help manage their 1,400+ properties. With his expertise in the industry, Greg joins host Pamela Mass Garrett on today’s first-ever episode of Legally Ever After to chat  about practical property management tips for investors.
One of the most crucial aspects of real estate investing is the expertise needed to manage the property effectively. With tenants to screen, insurance to purchase, and never-ending home issues, it may be difficult for investors to be available full-time. Unless you are a landlord who truly enjoys the property management process, Greg suggests hiring someone full-time to stay on top of the day-to-day operations and solve the problems that arise. 
With Greg’s valuable insight into the field, property management can become more accessible for investors to navigate. Learn more about the importance of buying the right property, how Greg’s business assists landlords with inevitable challenges, and the common mistakes of investors.
 
Quotes:
“Getting the right property at the right price is pivotally important. And investors need to make sure that whatever that property is, and whatever that price point is, you've got the right property on your hands.” (2:11-2:26 | Greg)
“The more due diligence we take up front, the better our chances are of not having problems on the back end.” (11:22-11:30 | Greg)
“We can never eliminate the risk of a renter living in your investment property, but we're trying to do everything we can by screening processes and site visits to mitigate those risks as best we can.” (15:29-15:42 | Greg) 
“I'm very optimistic that the investor community will have some great opportunities. I'm still very bullish on the whole front range.” (29:15-29:24 | Greg)
Links
Get in contact with Greg Bacheller: 
Real Property Management Colorado, LLC
3600 S. Yosemite Street, Suite 120
Denver, CO 80237
(303) 873-RENT (7368) | Phone
www.303rent.com
 
Download a Free Chapter of Legally Ever After at LawMother.com/Lea
Colorado Residents interested in estate planning, schedule a complimentary 15 minute call at Lawmother.com/go
Learn more about Law Mother at LawMother.com