Share
The Wealth Elevator Podcast: Real Estate, Taxes, Investing
SPC014 - 22 Questions To Ask A Turnkey Provider
•
The turnkey world was explained in this previous post. If you are going down this passive investing path, here are some questions to ask. This is not an interview, but simply a conversation starter. Use the salesman to educate yourself and exercise your BS-Detector. A lot of people ask me who the people to work with are. I am afraid for those who think like that because they will not go through this important education phase.
Can you break down the structure of your company for me? (Let them explain)
Tell me how your process works from start to finish? (Let them explain)
What does “turnkey” mean with your company? (Let them explain)
Do you own properties close to the one you’re selling to me? (Determine if you are working directly with the TKP or middleman)
Will there be a tenant in place before I close on the property? (There are pros & cons)
Can I use financing to purchase the property? What happens if my financing falls through? (Determine if you are potentially overpaying)
Is the home required to pass inspection and appraisal before I close? (Determine if you are potentially overpaying)
Can I hire my own appraiser before closing on the property? (Determine if you are potentially overpaying)
Do you use other companies to help you provide turnkey properties? (Understand where their deal flow comes from)
What is your role in the sale of the turnkey properties? (Get a sense of the size of their operation, are they the sales guy, rehab guy, or everything?)
Who are the “boots on the ground” in these areas? (Are you talking to the actual guy who manages the crews or just their sales person who never leaves the office)
Who owns the homes? (Understand where their deal flow comes from)
Who rehabs the homes? (Clarification on the buying process)
Am I expected to pay for the rehab? (Clarification on what you are buying)
Who manages the properties after the sale?
How long have you been in business for?
Is there a warranty on the property after the sale? (Beware if they provide vacancy assurance or warranties on work. They sound good but the provider could just be covering their work with a 3rd party insurance company)
Can I see a scope of work with expenses for one of your rehabs? (Check out markups and what is fixed)
How many properties are generally in your inventory month by month? (The more properties means better economies of scale but can also mean more bloat and more competition from other buyers)
What sets you apart from other turnkey companies?
What are some mistakes you make when you started out, and how are you doing those things differently now?
Do you invest? If so what?
SPC Git Er’ Done Action Plan:
Make a list of Turnkey providers, markers, agents to have a conversation with.
Send out emails to providers and schedule discussions.
Get on the phone, learn, and exercise your BS-Detector.
Email (Lane@simplepassivecashflow.com) me a screenshot of your iTunes review and I will send you the spreadsheet with some of the most popular Turnkey Providers to start your call list.
More episodes
View all episodes
517. Buffett’s 2-Step Formula REVEALED (And the New 4-Step Strategy to Beat the Market)
40:40||Ep. 517📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn this episode, we delve into the world of investing in individual stocks with expert Daniel Jiwani, author of 'Pick Stocks That Go Up' and 'Buffet's Two-Step Stock Market Strategy.' Daniel shares his journey from his first investment at 16 to becoming an accomplished investor by studying Warren Buffett's methodologies. We discuss the key aspects of successful investing, including identifying wonderful companies, buying at a wonderful price using discounted cash flow, maximizing upside by choosing growth industries, and essential risk management strategies. Whether you're interested in stocks, real estate, or other financial assets, this discussion offers valuable insights to enhance your investment strategy and make more informed financial decisions.00:00 Introduction to Stock Investing00:15 Guest Expert: Daniel Jiwani01:13 The Importance of Discounted Cash Flow02:14 Stock Market Realities04:49 Avoiding Investment Losers13:57 The Four-Step Investment Strategy20:49 The WorldCom Scandal: Earnings vs. Cash Flow21:44 Netflix's Accounting Practices22:32 Warren Buffet's Investment Philosophy23:01 Maximizing Upside Potential23:11 The Coca-Cola Case Study25:14 Angel Investors and Upside Potential26:26 Managing Investment Risk31:14 Economic Profits and Industry Attractiveness32:54 The Flipping Mindset vs. Cash Flow Mindset36:27 Investment Strategies and Portfolio Management38:33 Conclusion and Final ThoughtsConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator.
516. 2026 Market Predictions: Real Estate, AI, Interest Rates, Private Equity, Energy
01:10:04||Ep. 516📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn this 2026 market preview, we offer key predictions and insights into public and private investments, with a focus on AI, real estate, and key macroeconomic trends. We'll discuss recent Fed rate cuts, the concentration risk in public markets, and the implications for real estate investors. The video also covers the impact of interest rates on various asset classes, including multifamily housing, single-family homes, and the retail sector. Additionally, we delve into the increasing trend of retail capital flowing into private markets, the significance of business acquisitions by baby boomers, and the growing influence of AI and technology on investment strategies. Stay tuned for practical advice on asset allocation, the benefits of involvement in private equity, and the importance of understanding market cycles to make informed investment decisions for 2026 and beyond.00:00 2026 Market Preview Introduction00:24 Current Market Conditions and Predictions01:42 Understanding Public vs. Private Markets03:44 Valuation-Led Correction Cycle06:05 Real Estate Market Insights18:49 Retail Capital and Private Markets20:44 Baby Boomers and Business Transfers23:12 Interest Rates and Real Estate Strategies24:08 Inflation and Investment Predictions25:02 Single Family Homes and AI Impact26:17 Hospitality and Private Credit Funds28:48 Multifamily and Long-Term Investments31:44 Community and Investor Goals33:46 Transition to Macroeconomics34:00 Emerging Investment Trends: AI, Crypto, and Bioscience34:54 Manufacturing and Defense: Shifting Landscapes35:55 AI's Impact on Investment Strategies38:39 Energy Sector Insights: Clean Energy vs. Fossil Fuels42:31 Commercial Real Estate: Current Trends and Future Outlook52:27 Single Family Homes and Market Dynamics55:49 Investment Strategies and Market Cycles59:56 Multifamily Sector and Institutional Investments01:06:47 Final Thoughts and Future PredictionsConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator.This message is for informational purposes, assessing potential investor interest, and isn’t an offer to sell securities or investment products. Investors must review and sign all offering documents, including the Private Placement Memorandum, which supersedes previous communications. While we aim for reliability, investors should conduct due diligence. Stated objectives are illustrative; past performance doesn’t guarantee future results. Tax implications of investments can vary; we don’t offer tax/legal advice. Investors should consult certified tax professionals/legal advisors for tax outcomes based on individual circumstances.
515. Decumulation Tactics in 50s: Preparing for Financial Independence & Retirement
20:59||Ep. 515📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn this episode, we dive into 'Decumulation Tactics,' an essential topic for those nearing retirement. Aimed at individuals in their fifties on the second or third floor of the 'wealth elevator,' we explore strategies for drawing down your wealth effectively as you approach the last quarter of your life. We discuss everything from creating a spending plan, the importance of trading money for experiences, to avoiding common mistakes like overly conservative drawdown strategies. We also touch on the emotional and psychological aspects of this phase, informed by real-world examples and insights from the Bill Perkins book 'Die With Zero.' Additionally, we announce upcoming retreats and community events, emphasizing the importance of interaction and shared learning. Tune in to gain valuable insights on how to enjoy your nest egg while preserving your financial security.00:00 Introduction to Decumulation Tactics00:50 Reflecting on a Decade of Podcasting02:24 Upcoming Events and Community Announcements03:14 Understanding Decumulation and Its Importance05:13 Strategies for Smart Decumulation07:37 Real-World Examples and Mistakes to Avoid12:38 Setting Goals and Planning for the Future19:21 Conclusion and Final Thoughts
514. Lines of Credit with Business Owner Andrew Amann from ninetwothree.co
50:23||Ep. 514📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubLane chats with his friend Andrew, an accomplished entrepreneur who transitioned from being a mechanical engineer working on government defense projects to running a successful AI consulting business. Andrew shares his journey, insights on entrepreneurship, the importance of cash management, and how he leverages different financial strategies to maintain and grow his business. They also discuss the ups and downs of entrepreneurship, the significance of having a solid support system, and Andrew's experiences working with big names like SimpliSafe and FanDuel. This conversation offers invaluable lessons for current and aspiring business owners looking to navigate the complexities of starting and scaling a company.00:40 Infinite Banking and Business Owners02:15 Podcast Introduction with Andrew Amen03:42 Andrew's Journey from Engineer to Entrepreneur06:40 Financial Struggles and Lessons Learned13:55 Consulting Business and Financial Strategies26:20 Understanding Brokerage Accounts27:12 Leveraging HELOCs for Business and Personal Finance29:05 Navigating Financial Challenges31:14 The Importance of Good Debt36:07 AI Studio Success Stories37:13 Future Plans and Exit Strategies41:51 Financial Planning and Monte Carlo Simulations44:17 Personal Finance Advice for Entrepreneurs46:24 AI Studio Services and Client Acquisition48:18 Mascot Memories and Closing RemarksConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator.
513. Ask an Estate Attorney: Values & Planning with Andrew Howell
28:31||Ep. 513📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubLane interviews Andrew Howell, an experienced lawyer specializing in tax and estate planning. Andrew shares his expertise on the importance of proactive estate planning and the generational transfer of wealth. He emphasizes the need for crafting plans based on clients' core values and family dynamics, rather than a one-size-fits-all approach. Topics covered include the pitfalls of traditional estate planning methods, the impact of generational shifts in thinking about wealth, and the benefits of keeping assets concentrated within the family. Andrew also introduces the concept of purpose trusts and offers insights into how families can successfully navigate the transfer of assets across generations while maintaining cohesion and avoiding common pitfalls.00:56 Common Pitfalls in Deal Flow03:39 Estate Planning Insights with Andrew Howell12:59 Core Values in Estate Planning16:27 Practical Implementation of Estate Plans26:43 Final Thoughts and Contact InformationConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator.512. Rethink Your 401(k) Strategy Now: Important Tax Implications
06:49||Ep. 512In this episode, we delve into why many investors over 55 regret heavily contributing to deferred 401(k)s and other retirement plans, primarily due to future high tax brackets. We discuss alternative investment strategies like real estate, which offer immediate tax benefits, and caution against the long-term tax implications of deferred retirement plans. Tune in for insights on whether to keep money in qualified retirement plans or invest it elsewhere, and learn about our upcoming Hawaii retreat for deeper financial discussions.00:00 Introduction: The Pitfalls of Deferred Retirement Plans00:42 Upcoming Hawaii Workshop Details01:53 Podcast Introduction: Rethinking 401Ks and IRAs02:01 Key Points on Retirement Plans and Taxes03:38 The Importance of Tax Benefits Today05:34 Conclusion and Final Thoughts06:29 Join Our Annual Hawaii Retreat
511. Networking with Accredited investors is Critical
35:22||Ep. 511📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn this episode, we dive into a podcast replay where Lane Kawaoka, founder of Wealth Elevator, shares the inner workings of his investment retreats and the importance of building real relationships with other accredited investors. He discusses the need for curiosity, the value of mentorship, and the significance of community in personal and financial growth. Lane also highlights his journey from an engineer to a full-time investor, the importance of alternative investments, and how his events foster meaningful connections among high net worth individuals. The episode wraps up with insights on how to prepare for major life transitions and the future plans for Wealth Elevator.00:00 Introduction and Podcast Replay Announcement00:40 Guest Introduction and Initial Thoughts on Growth01:14 The Importance of Curiosity and Coaching02:26 Building Confidence and the Role of Peer Groups05:10 Adapting Strategies for Changing Environments07:15 Lane's Real Estate Journey and Investment Strategies12:38 Transitioning from Engineering to Full-Time Business17:10 Creating Effective and Curated Community Events29:01 The Future of Community and Human Connection33:11 Closing Thoughts and Final RemarksConnect with me:LinkedIn: https://www.linkedin.com/in/lanekawaoka/Facebook: https://www.facebook.com/TheWealthElevatorInstagram: https://www.instagram.com/TheWealthElevatorLane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016. Check out our Top-50 Investing Podcast, The Wealth Elevator.
510. Taxes Before Year-End: Using Oil & Gas Investments to Lower Ordinary Income
01:03:34||Ep. 510In this episode, Lane and guest tax expert Jack Hollander dive into strategies for offsetting ordinary income through oil and gas investments. They discuss the unique tax benefits, including intangible drilling costs and depletion allowances, and how these can provide significant deductions for high-income earners. The conversation addresses common mistakes with passive losses and real estate professional status, provides insights into how to properly utilize oil and gas investments, and answers questions on minimizing tax liabilities and optimizing portfolio strategies.00:00 Introduction to Tax Deductions in Oil and Gas Investments00:39 Understanding Passive and Ordinary Income01:11 Limitations of Passive Losses02:09 Real Estate Professional Status and Short-Term Rentals02:48 Introduction to Oil and Gas Investments03:02 Misconceptions About Bonus Depreciation06:08 Importance of Consulting Professional Advisors07:42 Basics of Tax Law and Income Buckets12:07 Financial Planning and Investment Considerations13:24 How Oil and Gas Investments Fit into a Portfolio15:23 Tax Benefits of Oil and Gas Investments23:53 Intangible Drilling Costs (IDCs) Explained35:16 Understanding Passive Losses and Tax Benefits35:53 Investment Strategies for Self-Employed Individuals36:33 Navigating Tax Forms and Returns37:27 Managing Investment Expectations38:37 Cash Flow and Tax Savings39:49 Evaluating Oil and Gas Investments41:15 Portfolio Diversification and Tax Planning43:15 Risk Management in Oil and Gas Investments53:09 Using IRAs and Roth Conversions01:03:01 Final Thoughts and Upcoming Events509. Jailbreaking you 401k: Investing Through Self-Directed IRAs & Solo 401ks
54:50||Ep. 509📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/clubIn this episode, we delve into how new investors can unlock their retirement funds through self-directed IRAs and Solo 401ks. Learn about the transformation process, the role of custodians, and the potential to invest in real estate or other alternative investments. Our guest, Ted Damp from Advanta IRA, shares his expertise on unique investment strategies, partnering, commingling funds, and navigating IRS rules. We also discuss prohibited investments, transactions, and the unrelated business income tax (UBIT). Discover how to avoid common pitfalls, diversify your portfolio, and leverage your retirement funds effectively. Visit WealthElevator.com for more resources, including event information and vendor referrals.00:00 Unlocking Your 401k and IRA Funds01:05 Introduction to Self-Directed IRAs01:48 Meet Ted from Advanta IRA02:27 Understanding Partnering and Co-Mingling Funds05:41 Basic Rules and Prohibited Transactions09:21 Real-Life Self-Directed IRA Experiences13:36 Disqualified Persons and Entities23:45 Case Study: Partnering on a Real Estate Deal28:43 IRA Ownership and Expense Sharing29:25 Rules on Percentage Ownership30:36 Co-Mingling Funds for Investments32:59 Non-Recourse Loans Explained37:51 Partnering and Co-Mingling in Real Estate44:14 Alternative Investments and Syndications51:26 Final Thoughts and Contact Information