We’ve recently purchased an off-market 80-unit building in Ohio, and I want you to understand what I’m looking for when I walk through a property. I’m going to share what you should look for when you inspect a new property during the due diligence period, some of the problems you might encounter if the property has had long-term tenants, and some precautions you’ll need to take because of COVID.
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Starting without friends or capital, Reed Goossens was able to build a $250 million dollar real estate portfolio by using his “6 P†strategy to build real relationships and raise money. Creating a solid foundation of trust, sometimes over years, helped him find partners to invest in multifamily properties, and even helped him score his latest off-market acquisition.
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I’ve been talking about what the opportunities will look like in the coming recession for a while now, and I finally have some solid data on exactly how that is playing out. COVID has put a unique spin on the recession that is hugely affecting the short-term housing inventory shortage that you’re seeing, but I want you to be prepared for the dramatic change I expect to see in the long-term.
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As a private lender, I see deals and fund deals regularly. And there are times that a borrower isn’t able to hold up his end of the deal and this can either be disastrous or turn into a great deal for us. This is the very reason why you loan or borrow at 65-70% of the after-repair value. This way, you can turn a private lender loan into a great deal with cash flow and equity.
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If your accountant recommends a depreciation strategy, you might assume that he’s done everything possible to help you out. For a next level depreciation strategy that might save you tens of thousands, you need to consult a real estate CPA who uses engineering to figure out your best tax-advantaged situation.
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The status symbols you see bragged about on social media are not the true signs of success. A ten thousand square foot house, massive yacht, or Lamborghini is not going to make you happier than you are today. I’m going to give you the formula for personal freedom today, no matter how many zeroes are in your bank account.
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Getting started in real estate was even harder than Zack Boothe thought it was going to be. He wasted thousands of dollars on courses, coaching, and marketing, but with a lucky break, he realized that success could happen to him. His favorite marketing approach takes the hard work ethic he grew up with and combines it with the inner drive that made him a millionaire in just three years.
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Entrepreneurs are the only people in the world who quit their 9-5 job so they can have some freedom to work 15 hour days. They tell themselves that they’re indispensable, valuable and that no one can run their business for them. But what they’re really doing is running themselves ragged. If you’re truly ready to take a step back and reclaim some personal and family time, Alex Charfen has some solid advice for you.
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If you’ve got entrepreneurship on your mind, then you need to protect your assets from the very beginning of your journey. From the important decisions of choosing what state to incorporate your business to protect your business from online scammers, Garrett Sutton is going to help you scam proof your assets from fraudsters, scammers, and grifters.
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The host of Flipping Boston and my good friend Dave Seymour knows about more than just single resi units. He’s currently standing up a $100 million dollar fund to invest in multi-family apartments, so we take the chance on today’s show to talk about how COVID-19 has affected the hard money loan business.
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