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Episode 22
What you will learn from this episode:
3Rs Read, Resource, Reflect
Read:
The Millionaire Real Estate Investor by Gary Keller
Resource:
Reflect:
"If you help enough people get what they want, you're going to get what you want." - Zig Ziglar
"True wealth comes from those people who create value, and that is where sustainable wealth comes from." - Lane Kawaoka
If there is a way to build wealth faster, it's definitely not through the retirement system or mutual funds or anything of that sort.
How do you get on the path to financial freedom faster without going by way of traditional wealth building?
Lane Kawaoka owns 7 Manufactured Home Parks and 21 apartment buildings, and one Assisted-Living Facility totalling 4,500+ units in 9 US Markets.
He is also a Licensed Professional (PE) with a Masters degree in Civil Engineering with an emphasis in Construction Management and a Bachelors in Industrial Engineering, both from the University of Washington. As an engineer, Lane has managed over $230 million of capital construction projects in both the public (City, State, Federal) and private sectors.
Lane's passion project SimplePassiveCashflow.com, is a Top-50 Investing podcast and free resource for passive real estate investing. Working as a high-paid professional in Corporate America and frustrated by the traditional wealth-building dogma, Lane was compelled to inspire and mentor other working professionals on how to do real estate investing and build their own portfolios.
In this episode, Lane shares the key pieces in creating his real estate investing brand that makes people like to work with him.
Juggling between a full-time job and a successful real estate investing business at the start is no easy feat, but his experience is one to emulate. Let's listen to his tips as to how he made everything possible.
What made brokers like to consider him for good deals is one thing we want to find out. His secret sauce to closing deals one after another, even amidst multi-bidders, is out in the open.
Want to have recession-proof properties and continue cash flowing? Lane helps you with that.
Are you looking to find a good marketing tool to build people's awareness about your real estate investing brand and programs? He recommends one that he also made use of in putting himself out there.
How about taking a strong stand on something you truly believe in? His two cents worth is worth knowing.
Let's hear from him of where the hot markets are and where opportunities abound.
Want to find out how his mastermind helps in creating passive income for high-earning professionals? He gladly talks about that to not go the traditional way of doing it and fully maximize your earning potential.
Topics Covered:
03:11 - Going after his dream and not just be bribed with salary
04:17 - What his strategy of focus is
05:09 - How he managed a real estate business while keeping a full-time job
06:55 - The way he runs his real estate business
07:28 - How he grew his 11 properties to 4,800
10:12 - What his mastermind is all about and how it helps hardworking professionals become passive investors
12:47 - The one thing he found inefficient that made him focus on real estate investing
15:00 - Standing his ground even when going against the norm in the way he builds his real estate investing brand
16:51 - One marketing tool that helped put himself and his programs out there
18:40 - What his investment strategy is in the long run
19:43 - Where to find market opportunities these days
22:14 - The key pieces in his real estate investing brand that makes people work for him
26:57 - What's the best thing about his favorite brand?
29:32 - Favorite book he recommends
30:57 - Tool he uses and recommends
31:44 - A quote that resonates well with him and which he lives by
33:51 - Lane's final words of advice
Key Takeaways:
"I started to get into these turnkey rentals. I'm not doing my own property management, that's for sure. But I'm using and leveraging other people so you as the investor need to be able to manage other people and keep them accountable." - Lane Kawaoka
"If everybody just followed what I did, and just bought a handful of other rentals, they'd be on the path to financial freedom a lot faster than the traditional method." - Lane Kawaoka
"This is why I stay the heck out of residential real estate because it's all based on emotion. This is why I stayed in the commercial route, it's based on an operating income, what the property produces, which is something I can control." - Lane Kawaoka
"I think part of our secret sauce is we've closed dozens of 100-unit building, so brokers know who we are. We're closers, so we get to the forefront of the best off-market deals. And even when there are multiple bids, we're kind of put out there as proven closers, which is what brokers like in the commercial route." - Lane Kawaoka
"It's got to fit your personality. And I think part of it [brand building] comes from; we just have a good product. I mean, where else can you make a higher return, less headaches, a better-underwritten asset that's institutional that has great landlords backing in case things go wrong." - Lane Kawaoka
"You have an unsecure product; now you’ve got to do all these tricks or games, a very common multi-level marketing realm. They sell a bunch of supplements; they're probably not as good as what's the best product out there. So you’ve got to rely on all these tricks and games. Tricks and games are for kids, when you don't have the best product out there." - Lane Kawaoka
"I follow this 70, 20, 10 rule of law. 10% of it is the academic stuff. And that's the books, that's the podcasts. 20% of it is mentorship or getting around other peers doing the same thing." - Lane Kawaoka
"What I would implore people to do more of is, get out of your shell. Stop, listen, get your air pods out of your ears, get on the phone. Nobody talks on the phone these days. I talked to my investors all the time. The reason why it's so effective is because nobody talks to each other. Nobody gets to know each other these days." - Lane Kawaoka
Connect with Lane Kawaoka:
Connect with Paul Copcutt:
Music: Thank you to Zoax for the intro music
