Christopher is the Founder of JAG Communities which is a vertically integrated multifamily-focused investment firm based in Jacksonville, FL. Chris started investing in real estate in 2016 by attempting to flip houses in Long Island, NY. After months of failing, he attempted out-of-state flips, purchased tax deeds, and finally found his footing in multifamily. Chris JV’ed on over 100 units, before joining Toro Real Estate Partners as their head of Florida operations. During his 4.5 years at Toro, they purchased 4000 units worth $300 mil, with 1000 units in Florida. Chris eventually left Toro in Nov 2020 to start JAG which owns and manages small to mid-sized apartment complexes in Jacksonville, MSA. JAG Communities currently owns and manages 60 units worth over $6.5 million, with another 52 units set to close in Q1/Q2 of 2022 worth over $8.5m. Chris has a 10-year plan to scale to $500 million worth of real estate owned[00:01 - 14:09] Opening SegmentIntroducing Christopher to the showChris Grig founded JAG communities, a vertically integrated multi-family focused investment firmJAG communities own and manage small to medium size apartment complexes in the Jacksonville Florida MSAChris has a 10-year plan to scale JAG communities to 500 million worth of real estateHow a house flipper turned to real estate investing[14:10 - 36:00] Transitioning to Becoming an OperatorChris talks about the challenges and the rewards of the transitionOperations are the biggest part of the industryMost of the time is spent on deals renovating A potential development project in Houston, Texas Each quadplex would have its private backyard and two or three-story layout[36:01 - 49:31] How to Create A Successful 10-year Real Estate Plan Chris started looking at buying his deal in early 2020 and was able to find one in orange park, FL within 60 daysChris is vertically integrated and plans to buy only a handful of properties per yearTest your market firstChris discusses the importance of market research before starting a businessHiring managers and regional representatives[49:32 - 63:25] Jacksonville's Emerging MarketChris discusses the pros and cons of doing smaller dealsChris's plans on staying in Jacksonville[03:26 - 04:53] Closing SegmentSee the links below to connect with ChrisFinal wordsQuote/s:"Just really enjoy this moment you're going through because as you grow and get bigger and bigger you're gonna look back and be like, ‘man those are the best times where at ground zero when you're just forming all this’." - Christopher GrenzigConnect with Chris on LinkedIn, Facebook, or visit www.jag-communities.comConnect with Joseph on LinkedIn, Facebook, Twitter, and Instagram    Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth, and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

In this episode, Brett Swarts discusses the deferred sales trust and how it is a legal tool that allows individuals to defer the taxes that would normally be due on the sale of an asset. As the owner of Capital Gains Tax Solutions, Brett explains that this can be helpful for businesses in cryptocurrency and primary home because it allows for separate ways for partners to separate without any debt re requirements replacement. He also notes that the deferred sales trust can be used for business sales as well as primary home sales. [00:00 - 13:48] Opening SegmentIntroducing Brett to the showBrief backgroundThe deferred sales trust is a tax-advantaged way to sell an assetEach individual family in a married couple has their own deferred sales trust, and other investors can have their twoThe 1031 exchange must be approved by all partners, and each partner must agree to the move[13:48 - 32:57] How to make Deferred Sales Trust an InvestmentA good option for people who want to defer capital gains taxes on a sale, and can be a good way to scale an investmentA good way to preserve wealth, and can be a good option for people who want to defer capital gains taxes on a saleIt costs around 1.5% of the gross sales price to set up and has a recurring feeThe deferred sales trust can help save a failed 1031 exchange[32:58 - 52:09] The Best Way to Avoid Fees When Exiting a DealDelaware Statutory TrustHow an LP can defer paying taxes on a sale of a property by using a deferred sales trustIf the tax code were to change in a way that would make this type of trustless advantageous, it would likely be difficult for LPs to retroactively adjust their plansThe government is proposing changes to the tax code that could increase taxes on assets such as real estate and cryptocurrency.[52:10 - 52:51] Closing SegmentSee the links below to know more about BrettFinal wordsQuotes:"Why not have something like the deferred sales trust in which you have no timing restrictions? So there's no 45,000 180. There's no debt requirement replacement. NTTS can go there. Separate ways. Partnerships can separate. It also works for businesses in cryptocurrency and primary home." - Brett Swarts"So unless you tell me Joseph if I want to buy a boat in my house and I want to live off the money we can't do that. To be tax-deferred needs to be for business purposes or investment purposes." - Brett SwartsConnect with Brett through LinkedIn, Facebook, Instagram, or visit www.capitalgainstaxsolutions.com and www.expertcresecrets.com.  Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram    Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth, and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout.

Jade discusses how his background in electrical engineering helped him with acquiring and managing properties. He also recounts how his professional journey as an engineer led him to become a landlord and buy houses in Arkansas. He talks about the challenges of the current market, which forced him to move to Houston in 2012. After 8 years in Houston, Jay decided it was time to move back home and focus on buying properties in Arkansas. Jade became a multifamily investor after working as an attorney, and he now advises investors on apartment investments.  Jade Laye is an Investor and Attorney who assists investors in obtaining above-market returns through apartment investments. With 10 years of experience in the acquisition, rehab, and operation of 2500+ single and multi-family units in Texas, Arkansas, Memphis TN & Atlanta GA, Jade has acquired $230M+ in real estate assets under control and/or ownership. Jade also has 15+ years of legal/management experience in major law firms. [00:01 - 06:53] Opening SegmentIntroducing Jade to the showEngineer/attorneyAssisting investors in obtaining above-market returns through apartment investments Jay’s background as a real estate investor [16:54 - 33:08] The Best Market Is Always Your BackyardIt’s always better to start where you’re most comfortableWhy multifamily is a better investmentThe ability to force appreciation in apartments in a way that isn’t possible with houses [33:09 - 49:38] Bringing Equity to Multi-Family PortfolioModern-day syndication is more common with larger general partnership teams, where each partner brings in equityOne of the things that have evolved in modern-day syndication is the structure of the team, with each partner taking on specific responsibilitiesCharacter and capability are important factors when selecting a syndicate partnerSponsors should take a balanced approach to evaluate dealsSponsors should also be aware of the risks associated with entering new markets [49:39 - 57:13] Closing SegmentJade’s tips for a successful sponsorshipIt is important to have a long-term perspective when vetting potential sponsorsIt is important to partner with people who have experience in the real estate industrySee the links below to connect with Jade  Quotes:“Everybody has to have specific roles outlined. Everybody has got to be a team player.” - Jade Laye "I invest with people I can trust." - Jade Laye  Connect with Jade on LinkedIn, Facebook, or email him at [email protected].  Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com   

Dr. Eric Tait shares the financial independence of transitioning from a career in medicine to owning and operating investment firms. Eric breaks down the different ways an individual can become financially independent, explaining how chose real estate as his path due to the stability and potential for passive income it provides. He also discusses the importance of educating oneself on important financial topics, and how mentorship can be instrumental in achieving success. Eric Tait is an Investment Fund Manager with Vernonville Asset Management (VAM) LLC, a private investment firm that helps investors attain or maintain financial independence using alternative assets. Eric is also a Physician who is board-certified in Internal Medicine. Under Eric, VAM has grown to over 150 million dollars in assets internationally and domestically, these include the Hilton Curio Resort in Belize, numerous Triple Net Commercial and Light Industrial assets, multi-family apartment homes, student housing, specialty coffee farms in Boquete, Panama, and dozens of single-family homes, private lending funds, and Angel Investments. [00:01 - 12:47] Opening SegmentIntroducing Eric to the showPursuing a career in medicineEric’s educational background[12:47 - 25:19] Getting Into Real EstateEric shares how he got into real estateHouston’s most successful real estate investors[25:19 - 38:01] The Brain Power Needed for Building WealthYou can’t rent an apartment for twice the market averageHow to transition from engineer to real estate investorHow W2 professionals should transition properly into real estate Being aware of the different types of businesses they are in and what type of risks they are taking[38:01 - 47:16] How to Navigate the Turbulent Waters of Real EstateBeing aware of outside factors that can't be controlled by the sponsor or operatorDeciding what financial life goals you want to achieve, and then finding someone to help them achieve those goals[47:16 - 50:54] Closing SegmentSee the links below to connect with EricFinal wordsQuotes:"I just take what mentors see and what they're doing and apply it to my life. And then I drag my investors along with us if they want to go from that standpoint." - Eric Tait"When you see a deal that falls in your parameters pull the freaking trigger." - Eric TaitConnect with Eric on LinkedIn, or visit www.vernonville.com.Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth, and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

Doug Smith is the CEO of Hawthorne Capital, an investment firm focused on real estate. In this episode, Doug shares his lessons learned about generating passive income, and how he generates a high rate of return on cash flow-based real estate investments by buying and selling land outside of Houston. Doug also offers secondary loans to buyers who want to build their own home, which he believes is a more personal and less stressful experience than going through a traditional lending process.Previously a software developer for ExxonMobil, Doug has gone on to buy and sell over 100 houses and over 3,000 acres of Texas land. Much of that land has been transacted from within Hawthorne Capital, thus providing its investors with predictable passive income. Doug was recently named to the Houston Business Journal 40 Under 40 list and learned Spanish after spending a year living in Spain and Chile.[00:01 - 14:47] Opening SegmentIntroducing Doug to the showBorrowing money from a bank at 5% interestHow the typical buyers of real estate limit the tax advantages of investing[14:46 - 21:45] Getting Incredible Returns as an InvestorPurchasing land outside of HoustonWhy is Hawthorne Capital better than the local banks?[21:45 - 35:39] Embracing a Peer Group of Successful PeopleSite development can be done for a property at a much higher cost than buying landRural land deals can be difficult to find and take on a lot of risksSurrounding yourself with people who are already successful to grow[35:39 - 42:45] Becoming a Passive Income MillionaireCreating a team that can run itselfAcknowledging fear in the beginning and moving forwardNot losing sight of previous successes[42:45 - 47:43] Closing SegmentSee the links below to connect with Doug!Final wordsQuotes:"Just everything in life you just gotta surround yourself with people that are already doing what you want to be doing or have some success for you to emulate." - Doug SmithConnect with Doug on LinkedIn, or visit www.hawthornecapital.com Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth, and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

“Make sure you have enough capital to better take care of your needs. Because if you don't, then you're at the mercy of banks, or whoever else you have to deal with.” - George JosephOn this episode of The Engineering Passive Income Show, Joseph is joined by George Joseph as he discusses the story behind his business ventures and how he ended up with multiple income-generating businesses. He emphasizes how establishing good relationships and maximizing support would provide maximum returns when handled right and how we must strive towards diversifying our income sources for better security.Currently CEO of Common Bond Bistro Bakery Brassiere as well as Positive Recovery Centers, George’s history includes building a company called The Right Step from 300K in yearly revenue to 35 plus million and from 8 employees to over 300. Right Step was a drug and alcohol rehab company with locations throughout Texas. George sold Right Step to Private Equity backed company in 2012. During his leadership, he was recognized as National Drug and Alcohol Counselor of the Year and National Behavioral Healthcare Champion.In 2014 during his non-compete phase George started Lightning Step Technologies, a current leader in the addiction field with an all-in-one Electronic Medical Record, Customer Relations Management, Revenue Cycle and Outcome Manager software as a service tool. George purchased Common Bond Bakery and Bistro in December 2016. He began this adventure as a passive investor, but in December 2018, he quickly evolved into an active Chief Executive Officer for the continued development of Common Bond’s growth. George decided he was the leader for the job and acquired the company.In 2017 at the conclusion of his non-compete, George reentered the drug and alcohol rehab space and started Positive Recovery Centers. George’s proven strength is creating a strong culture with the employees, this enables them to feel a connecting company pride that branches out to the consumer, and as a result, maximizes the success of the operations internally. Due to his hard work and commitment to his employees and their mission, he was recently honored as Most Admired CEO by Houston Business Journal.  [00:01 - 11:35] Shifting the Focus Towards Growth[11:36 - 20:08] Finding Security in Providing Basic Human Needs[20:09 - 31:53] Maximizing Support and Learnings for Income Diversification[31:54 - 33:52]  Wrapping Up! Key Quotes“The employees are your most important asset, and you got to really take care of them.” - George Joseph“Focus on the things you can grow… Prove the morale of employees. You're going to be successful.” - George Joseph Connect with GeorgeReach out to him on LinkedIn Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

“There's never going to be a right time. There's not going to be this time where like the clouds open up, and the higher power comes and says now's the time.” - Cody NicholsonOn this episode of The Engineering Passive Income Show, Joseph is joined by Cody Nicholson as he reveals his noteworthy story of catching the entrepreneurial bug and coming out successful. Getting into the world of entrepreneurship entails sacrifice and for Cody, it meant quitting his respectable job, eating ramen noodles for two years, heavy planning, and employing lots of strategies, all while having a family to support. [00:01 - 13:27] Catching the Entrepreneurship “Sickness”[13:28 - 28:10] The Implications of the Freeing World of Entrepreneurship[28:11 - 23:29] Risk is Fun For Those with Entrepreneurial Disease[41:45 - 45:44] Why Consider Betting on Yourself[45:45 - 48:21]  Wrapping Up! Key Quotes“Entrepreneurship is kind of like a sickness, right? It's like a bug that you catch, one day you something clicks, and you say, ‘Wow, this is something I want to do the rest of my life.’.” - Cody Nicholson“If you get the sickness and you have the disease of an entrepreneur, risk is fun."  - Cody Nicholson Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

“Everything starts with planning, the process that we use to guide individuals through this is called wealth with purpose, which does exactly what it's called, it's to define that goal behind your wealth.” - Ali NasserOn this episode of The Engineering Passive Income Show, Joseph is joined by Ali Nasser as he discusses the six asset classes to consider in building your wealth and tips in risk management. He stresses the significance of identifying your goals in crafting a roadmap for mindful investing towards a comprehensive financial plan.Ali Nasser is the Founder and CEO of AltruVista. His passion is to help business owners gain clarity on the most important decisions at the intersection of wealth and life planning. He has helped numerous owners be more intentional with their goals, integrate their team of professional advisors, and create a roadmap to capture their success.He has a degree in Finance from the Bauer School of Business and is a Certified Financial Planner (CFP), Certified Exit Planning Advisor (CEPA) and an Accredited Estate Planner (AEP). Ali also taught comprehensive financial planning at Rice University from 2014-2019. Ali’s upcoming book, “The Business Owner’s Dilemma” is scheduled to release on 2.22.22. [00:01 - 09:01] The Importance of Value Assets with Intrinsic Measurement[09:02 - 21:24] Financial Repositioning Considering Risk, Income Streams, and Tax[21:25 - 29:56] Crafting the Roadmap to Mindful Investing[29:57 - 40:23] Wrapping Up! Key Quotes“It's important to know what you're getting into when you're buying an asset that doesn't necessarily have any intrinsic measurement. .” - Ali Nasser“Most business owners, especially those that have been highly successful, the majority of their wealth was generated through concentrated risk in one investment.” - Ali Nasser“You're kind of just diversified and protected in a way that because if you had losses in one area, or one area doesn't perform as you would perfect, as you'd expect, you're covered in other areas.” - Ali NasserConnect with AliReach out to him on LinkedIn Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

“People like to give without expecting anything in return. You can only do that if your cup is full. And so what I see a lot of people do is they'll try to give, but there's nothing filling their cup... And so you've got to make sure that you've got the ecosystem established that gives you that opportunity to be generous, because if you don't, then you're going to destroy everything that's around you. And it's just collateral damage. Not because you're a bad person.” - Jerome MyersOn this episode of The Engineering Passive Income Show, Joseph is joined by a special guest, Jerome Myers. He shares his story about leaving the W-2, discovering real estate, and the struggles of getting into the game and playing in it. Turns out, it’s not all unicorns and rainbows in this realm. Discover how he navigated the transitions exploring the matrix and the levels of it that lead to transcendence.Are you stuck in the Matrix? Many of us are silently asking ourselves, is there more to life? Jerome Myers (a/k/a "J") is a developer of people and places. He is the founder and Chief Inspiration Officer of two ventures. DreamCatchers is a boutique coaching firm that supports first and second generation wealth creators self actualize and attain transcendence, and The Myers Development Group, where we help ordinary people invest in multifamily real estate in a way that creates generational wealth. Through these entities he gets to live out his childhood dreams of helping people manifest the things they imagine and he is the evidence that dreams should be real. Since leaving corporate America after building a 20MM division, J has become one of the most sought after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods. [00:01 - 09:18] Rainbows and Unicorns? Do the Math and Know the Reality[09:19 - 24:47] Stepping Out of the Illusion of the American Dream [24:48 - 44:57] Making a Soft Landing for a ‘Bad Jump’[44:58 - 59:15] Jump in and Ride into Real Estate[59:16 - 01:02:59]  Wrapping Up!  Key Quotes“To go out into entrepreneurship with no income is the recipe for disaster because you start to do desperate things.” - Jerome Myers“If you don't produce income from the business that you run, you can't point the finger at anybody. I guess you could point it out [to] the market conditions or customers, but at the end of the day, it's your fault.” - Jerome Myers“If you can't put how you truly feel into words, and have that conversation with the person, they're probably not the right partner for you.” - Jerome MyersConnect with JeromeReach out to him on LinkedInConnect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout. 

“Not everyone gets a fair outcome, but everyone has a fair shot at this, you know, decentralized protocol where everything has been baked into the code where it's not chained... That's not going to change at the whim of some billionaire who wants to, you know, shift the incentives for his desire.” - Bobby ShellOn this episode of The Engineering Passive Income Show, Joseph is joined by Bobby Shell again to continue the discussion about why governments are failing in response to the domination of bitcoin, how physical assets are diminishing in value, and how the disruptions by the decentralized currency causes the need for industries to shift valuation methods.Bobby graduated from the University of West Florida, School of Business with a degree in Marketing/Sales Management, and has over 20 years of marketing and sales experience. Bobby currently serves as VP of Marketing at Voltage. Cloud is a leading Bitcoin infrastructure provider and serves as a Marketing Partner at Growth Vue Properties, a commercial multifamily syndication group. From 2013 - 2021, Bobby served as Director of Marketing at Madwire/Marketing360. He quickly became the top producer of the agency and successfully led a team of 40+ team members in scaling 1,000+ businesses while managing millions of dollars monthly. Bobby’s passions are helping entrepreneurs scale their business and creating financial freedom, Bitcoin Education, real estate investing, and helping men live fulfilling lives. Bobby is also Co-Founder of Grit Investments, a capital investment company in Northern Colorado. [00:01 - 06:06] The Authority’s Chaotic Approaches in Response to Bitcoin[06:07 - 16:25] Disruptions in the Real Estate and Banking Industries[16:26 - 23:29] Bitcoin Progression and Implications to Financial Planning[23:30 - 25:35] Get Into the Game and Step Into Freedom [25:36 - 28:02]  Wrapping Up! Key Quotes“The thing about Bitcoin is you can actually, with open source code, create your own wallet. The Bitcoin Blockchain continues on regardless of what the government wants to do.” - Bobby Shell “The reason people buy, you know, real estate, and then like, the reason people's net worth is tied up in their home is because it's hard for them to get anything else and build wealth. You know, like, that's the net worth of most people.” - Bobby Shell Resources MentionedThe Bullish Case for Bitcoin by Vijay BoyapatiThe Bitcoin Standard by Saifedean AmmousGradually, Then Suddenly By Parker LewisConnect with BobbyReach out to him on LinkedInConnect with Joseph on LinkedIn, Facebook, Twitter, and Instagram   Download resources and join our private investor group at www.engineeringpassiveincome.com  LEAVE A REVIEW + and SHARE this episode with other professionals who want to learn how to generate passive income, grow their wealth and get their time back. Listen to previous episodes on Spotify, Apple Podcasts, or Buzzsprout.