Shownotes
Episode Title: Real Estate Investing with Johnny Lynum
Host: Jeff Gill
Guest: Johnny Lynum, seasoned real estate investor, active duty Air Force Lieutenant Colonel, author, coach, and philanthropist.
Introduction:
- Welcome to "Navigating Financial Freedom."
- Today's guest is Johnny Lynum.
- Johnny's background: born in Detroit, Michigan, raised in Grove Hill, Alabama.
- Founder of Operation Invest and REI Genius.
- Over 17 years in real estate, owning about 120 units valued at over $14 million.
- Specialties: project management, success coaching, marketing, capital raising, buy-and-hold investing, fix-and-flip, and motivational speaking.
- Author of "Millionaire Real Estate Success Strategies."
Episode Highlights:
- Starting in Real Estate for Military Personnel:
- Utilize the VA loan for purchasing properties.
- Buy properties early in your military career.
- VA loan allows purchasing 1-4 unit properties with 100% financing.
- Example: Johnny's first duplex in Warner Robins, Georgia.
- VA Loan Process and Benefits:
- Requirements and benefits of the VA loan.
- No purchase limit, but possible entitlement limits.
- Process of refinancing to restore entitlement.
- Investing Strategies:
- Johnny's evolution from buy-and-hold to fix-and-flip to multifamily investments.
- Importance of having a team and managing projects remotely.
- Example: Johnny's first 18-unit apartment building purchase during COVID-19.
- Mindset and Psychology in Real Estate:
- Importance of mindset in negotiations and transactions.
- Tony Robbins' influence: success is 80% psychology, 20% skill set.
- Focusing on adding value and understanding the seller's story.
- Market Trends and Predictions:
- Real estate resilience, especially in single-family homes.
- Local market variations and their impact on investments.
- Multifamily trends and new construction impacts.
- Importance of diversification and understanding interest rates.
- Financial Literacy and Community Involvement:
- Johnny's passion for teaching financial literacy.
- Importance of financial education for underserved communities.
- Johnny's book "Millionaire Real Estate Success Strategies."
- Success Stories and Mentorship:
- Success stories of Johnny's mentees.
- Example: Reggie's first contract and subsequent multifamily deal.
- Importance of taking action and consistency.
- Programs and Resources:
- Johnny's multifamily mastermind and eight-week accelerator program.
- Teaching individuals to scale properties and raise capital.
- Launching Line of Capital, a private equity fund for real estate investments.
- Balancing Family and Business:
- Block scheduling and prioritizing family time.
- Importance of having a supportive team.
- Example: Johnny's commitment to attending his children's soccer practices.
Closing Remarks:
- Johnny's contact information: JohnnyLynum.com, active on LinkedIn, email: Johnny@JohnnyLynum.com.
- Encouragement to visit the website for more information on programs and consultations.
- Jeff Gill thanks Johnny for sharing his insights and experiences.
- Encouragement for listeners to subscribe and share the podcast.