Reuben Goldbaum with 4 Properties You Can Make an Offer On, Right Now! – EP 282

The Fastest Way To Build A Six Or Even… Seven Figure Real Estate EMPIRE! 

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Spoiler alert! If the title hasn’t already ruined the surprise, you’re going to hear about four specific deals that today’s guest has for sale in Houston, Louisiana, and Memphis. 

But before we get there, allow me to introduce you to Reuben Goldbaum.

Reuben is a very active commercial real estate broker. He’s the owner of CG Commercial Realty, where he focuses on networking with owners. His unique approach helps differentiate him from the major brokerages of the world while giving him the power to find and win deals. 

You’ll hear his story of how he built his business, the tools he uses to evaluate a new market, how he finds deals–and you’ll find out how you can make an offer on four properties in great markets right now.

Key Takeaways with Reuben Goldbaum

  • The reasons why Reuben built an owner-based real estate brokerage.
  • Why Reuben believes it was important to work in the industry before becoming a broker.
  • Why everyone networking in real estate is on equal footing–no matter what you might think.
  • Now is always the right time to take a leap of faith and get into real estate investing.
  • The six tools Reuben uses to evaluate a new market.
  • The properties that Reuben has available right now, and how you can make an offer on them.

Reuben Goldbaum Tweetables

“When you’re networking with other people, don’t look up and don’t look down. Everybody is on the same footing.” - Reuben Goldbaum

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Josh Cantwell: So, hey guys, welcome back to Accelerated Investor. Hey, it’s your host, Josh Cantwell. And today, I have a great interview with a very active commercial broker who actually has four active listings that you can buy. His name is Reuben Goldbaum. He owns his own brokerage. It’s actually an owner-based brokerage, which I love. You guys know brokerages like the Big Boys, the Cushman’s, the Newmark’s, the CBRE’s, the Marcus & Millichap’s. Those are huge, huge corporations, a lot of times, billion-dollar companies.

 

Reuben actually started his own commercial brokerage, and he focuses on networking with owners. So, here are some of the things you’re going to learn in this interview for Reuben. Number one, you’re going to hear about Reuben, why he built an owner-based real estate brokerage. Number two is you’re going to hear why he felt it was so important to work in the industry before he became a broker. He worked as a 1031 intermediary getting a W-2 income, and that led him into the business. Number three, I love his quote. He said, “When you’re working in networking with other people, don’t look up and don’t look down. Everybody is on the same footing.” So, you’ll hear about that story.

 

Number four, why Reuben thinks you should just take a leap of faith and get in the business. And also, number five, you’re going to hear about six specific tools that Reuben uses when he’s evaluating a new market. You’re also going to hear about four specific deals that Reuben actually has for sale right now in the Houston market, the Louisiana market, the Memphis market, and we’ll give out his information if you want to make offers on his listings. So, I think you’re going to enjoy this interview on Accelerated Investor with a very active commercial broker, Reuben Goldbaum. Here we go.

 

[INTERVIEW]

 

Josh Cantwell: So, hey, guys, welcome back. I’m so excited to be interviewing Reuben today. Reuben, thanks so much for joining me on Accelerated Investor. How are you today?

 

Reuben Goldbaum: I’m doing great. Thanks for having me, Josh, really exciting to be here.

 

Josh Cantwell: Yeah, absolutely. I’m excited to have you on, man. So, listen, I know you’re a very active broker. You’ve worked with a lot of 1031 exchange money, a lot of high net worth. Tell me a little bit about what you’re up to right now. What are some things that are on your plate and projects that you’re excited about in today’s market?

 

Reuben Goldbaum: So, right now, I’m currently working on – I have two deals in Houston, I have a deal in Memphis, I have a deal in Baton Rouge, Louisiana. Those are four deals I have active, but I’m more specifically focused on dealing with the scariness and how everyone is so terrified about the rising interest rates. So, it’s more of speaking to investors every day, finding out what their thoughts are, how they’re dealing with it, how their new approach to underwriting may or may not be, and just trying to get a better handle on it.

 

But those four deals, let’s talk about those for a second. I have one small deal in Houston, 120 units. That’s a nice value-add play. It’s going to need a bridge loan on it. That’s going to be a nice little property. We’re going to get that sold hopefully pretty soon. We have a three-pack also between Pasadena and Houston, two in Pasadena, one in Houston, a total of a little under 150 units. Also, a bridge, but that would be more just updating units, bringing their units to market rent.

 

And then I have something like I mentioned in Louisiana that’s going to be a heavy lift between that, a much bigger property, about 330 units, 70s vintage, 50% occupied, some problems with the current ownership, they’re not doing a great job. Funnily enough, I had that property a year ago, and we brought them a great offer, and they did not want to sell it. They said, we’ll do it ourselves with good result. They pumped in since then, $700,000 of CapEx, and they’re worse off, if you can imagine. I mean, it’s brutal.

 

So, now they called me again, and I’m like, “Okay, let’s go. Let’s go.” I’m like, “Okay, we’ll see what happens.” So, I have a few things that we’re kind of so excited, and the market is so tight right now. When you have a deal, you know that people are going to be interested and ready to adjustments. And the Memphis one, yeah, I apologize, I forgot about that one. That one is really exciting because you’re going in at a very high cap rate. You’re talking going in at about a five-and-a-half, almost five-and-three-quarter cap for a fully produced cash flowing, beautiful property in a nice area, not far from the airport. I mean, it’s a cool place. So, we’ve gotten a few offers on that and make sure to get that done very soon.

 

Josh Cantwell: Fantastic. I love it. So, it’s interesting when I talk to a broker who wraps and sells properties in multiple locations like Louisiana, Houston, Memphis, they’re not really all that close to each other. One of the brokers that I work with in Ohio, they’re based in primarily Ohio. They might go to Indiana, they might go to Detroit, they might go to Pittsburgh, but they’ve got a big footprint in Ohio. I know you’ve built your business really rapidly in the last couple of years. Tell me about the growth. Like how has that happened? How have you built it?

 

Reuben Goldbaum: It’s a great question because most brokers, like you said, are in one specific area. They have their territories. Even in large brokerages, they have territories. I’m a little different. I’m owner-based. So, if I know an owner, and he can own five properties, one can be in California, one can be in New York. I’ll still work with that owner. So, it’s not about the area. It’s about the owner, which is relatively unique.

 

And as we grow, it might become a problem when you bring in more agents that they want territory, but hopefully, it won’t be too much of a problem. I’m sure we’ll find a way to figure it out. Our growth, it was amazing. I started out, I was working in 1031 exchanges. I was working for a company called Riverside 1031. I was a qualified intermediary. I don’t know if you’re familiar with that term, Josh.

 

Josh Cantwell: Why don’t you explain it for our audience?

 

Reuben Goldbaum: So, a qualified intermediary, in order to facilitate a 1031 exchange, the money needs to go to an intermediary. That’s called a qualified intermediary, and they’re the one who handled that transaction. While I was there, I was doing sales for that company, and while I was there, I started getting out there and I was noticing how all the brokers look at 1031 buyers and they’re like, they salivate, they’re so excited.

 

We’re going to mess this guy over because he has so much money that he needs to deploy and we’re going to get the most, we’re going to squeeze every last outside of the guy. And I was like, “Wow, that’s pretty crazy.” I mean, so much so there’s a massive huge industry out there called Triple Net properties and DSTs which is Delaware Statutory Trusts which are there specifically to help 1031 investors that we’re growing. Not everybody’s doing the wrong thing, but it is a way of getting 1031 investors to put their money in a property which will not produce as much as they really should be producing – 6% returns, 5% returns. I mean, it’s very nice, but it’s not what active 1031 investors would like to do, people that are going to properties, property, you want to build their portfolio.

 

So, I saw a niche at a market for a person who will bring those 1031 buyers as the best possible buyers. The same way you can have a REIT that has billions and billions of dollars backing them, you know they’ll never back out of a contract. A 1031 buyer is almost the same, and that they have such strength of a buyership, if that’s a word. They come in, and you know they’re going to close. They come in and they’re strong and they have a timeline and they have the money backing them. And you could get a letter from the QI stating that they have X amount of money and you know they’re going to do it.

 

So, I felt so strongly there was a position to bring those buyers to the table and get those properties. Also, very often, they would know what they want, they know. In this area, we want X amount of units with X amount of leverage and we’re willing to do X, Y, Z. And going in, that gives you so much more because you know they’re a real buyer. You’re not just bringing anything to the table and listing it and hoping that people will throw some money at it. You’re bringing something very specific and you’re bringing this niche with these 1031 buyers or high net worth buyers. The point is very strong buyers should be recognized as strong buyers. So, that’s how we grew.

 

Josh Cantwell: So, how does somebody find or brand themselves to find these 1031 buyers? Like how did you put out there and market yourself? As I know you had a background in it because you worked at Riverside, and that’s a big QI, lots of salespeople, and they’re doing lots of it. So, you had a niche in it, but how did you start your brokerage and brand yourself, I’m that guy. If you’re a high net worth, if you’re a 1031, work with me because fill in the _____, like why would people want to work with you and kind of explain it because you felt like people were getting kind of screwed because they’re just pushing properties and overpricing them, but what was the branding for you to make you the expert in that area?

 

Reuben Goldbaum: That’s another great question. I actually brokered a deal while I was at Riverside, and that’s how my eyes opened up to brokerage as well. I brokered a deal, and my initial reaction when I got the commission, I was like, “Oh, this is cool. I like this. This is fun.” But then you realize what brokering entails of what it’s involved in and how it is. And I had so many relationships in the 1031 world. I was there for a couple of years. I’d gone to all the conferences, to ICSC and to IMN and all the big conferences, and I started building a network, and I speak about this on LinkedIn, I’m relatively active on LinkedIn. And I speak about this a lot where your network is so key.

 

Everyone you know could turn into your next line. People knew me as the 1031 guy. Once they started reaching out to me as the 1031 guy, I was able to start bringing that into the other aspect of my business, which is okay, I know you’re in the 1031, what are you looking for? This is what I do for a living. Do you need something? Or have you already identified which properties you’re planning on doing? So, it was growth in steps, I really was.

 

I remember when I started Riverside, I didn’t know what a cap rate was. I didn’t know what I was. I didn’t know anything. And as time went on, you learn and you learn and you learn and you learn. And it took a couple of years, and I’m still no major real estate expert, but now I can sit in a room and sit on a podcast and speak to Josh Cantwell and know exactly what I’m talking about. And that’s what you’re doing. You got to start somewhere, pick yourself up, and brand yourself a network with the people that you speak to daily.

 

Josh Cantwell: Yeah. And I think there’s a great piece of advice in there, Reuben, that for so many people and maybe some listeners of this show that want to get into commercial real estate, want to get into multifamily, but don’t know how to do it, there are so many different ways to get in, there are so many different places you can sit on the bus and be a GP and be an owner or be an LP. And for a lot of people, it might be working in the industry with a W-2 job or earning commission and not realistically being an owner yet, but doing stuff in the business.

 

I got into getting really good at raising money because when I was in my early 20s, I’m now 45 years old, 20 years ago, I got into financial planning. I didn’t know that that would help me be really good at raising capital and talking to investors. So, I kind of got into the capital game. So, some people, maybe you’re good at raising capital and you get into the capital game to become an owner. Maybe some of you need to be working at a 1031 exchange intermediary to get around owners. Maybe some of you need to work for a property management company, earning a commission to get to know property owners. Maybe some of you need to go work for a lawyer and be a legal aid or something like that who’s working in the commercial space.

 

There are a lot of ways to get in the business without just saying, I got to go buy my first 150-unit. That’s a $10 million property. And you’re like, “Oh God, how am I going to do that? How am I going to sponsor it alone? How am I going to raise the money? You don’t know what you’re doing. So, how do you get in the game? How do you get in the industry and not necessarily have to be an owner right away?

 

I sort of did that by default. Reuben sort of did that by default. I think it’s a great way to get into the industry with relatively little risk. So, I mean, Reuben, what are your thoughts on that for anybody who might be listening that wants to do what we’re doing, but kind of looks at it as, wow, that’s such a big leap for them?

 

Reuben Goldbaum: It’s the best thing you could do. Honestly, it’s easy. When I started out, I was pretty newly married, I had no kids. My expenses were pretty low. I took a W-2 job working, like I said, at Riverside. And I still have a great relationship with them. I still send them clients for their 1031s. And it was so easy because you use that as a stepping stone and you build what you are and you become more of someone, you gain confidence in any industry.

 

I have so many friends that started out as property managers making 50 grand, $55,000, managing 200, 300, 400 units. And then, yeah, they go and they buy their first, even a triplex or even their small 40-unit property that they partner up with their old boss if they still maintain a good relationship with them, things like that. And you can grow, you can become a GP, or you can continue your W-2 job, get better at it, and then invest it with people like you as an LP and gain all the benefits of real estate like that as well.

 

Josh Cantwell: Perfect stuff. Reuben, I know you’re a very active broker right now. And you mentioned that you work with a lot of 1031 buyers, but you also have these four active listings right now. So, if somebody wanted to talk to you about these deals that you have, obviously, I will put your information in the show notes, why don’t you just give us your contact information right now in case there’s a listener that wants to reach out to you about these deals in Memphis and Louisiana and Houston?

 

Reuben Goldbaum: Thank you. Appreciate that. Very easy way to contact me is just via email or myself. I happily give out my cell phone to everybody, 347-471-3669, or my email is reuben@cgcommercialrealty.com. CG is myself and my partner, his name is Jack Cisner, so C for Cisner, G for Goldbaum, Commercial Realty dot com. Pretty long, but it is what it is. You email me once, it’s in there. So, I never forget it. And then on LinkedIn, you can find me.

 

Josh Cantwell: You’re really focused on that 1031 buyer. Are you still looking for those kind of clients to be wrapping them and be like a buyer’s rep or relationships with them when they’re 1031’ing into a deal? And you said you’re more owner-based, you’re making relationships with owners and they could be a buyer, eventually, they’re going to be a seller. Help me understand that piece of it. Like, what’s your kind of preferred side of the deal you’re on? Or do you just kind of prefer to deal with, work with the owner, kind of double-ended? And how does that come together?

 

Reuben Goldbaum: It’s all of the above. I prefer, honestly, wherever I can get into a deal, wherever I’m going to transact, whether it’s with the seller as the owner or whether it’s with a new buyer. I find that when you have the strongest buyers, when you know they are closers and you know that they have the equity and the know-how to do a deal, I find that you’ll find a deal to give to them. So, I love those buyers.

 

If a guy calls me and he says, “Reuben, I’m exiting this such and such a deal, I’m selling a strip center in Kentucky, and I’m looking to get into multifamily. And I have the money lined up and I need to close in a certain amount of time. And I’m looking in this area.” So, then you sit down and you go on CoStar, you go on Reonomy, and you start making phone calls. And they come, people are very, very receptive.

 

That’s one thing I love about the real estate industry is that people are receptive. People are always interested in hearing what you have to say, what you’re bringing to the table. As long as you’re respectful and you’re not out of nowhere and you’re not disrespectful in your cold call or in your cold email, be creative, be nice, be friendly, we’ll talk about that in a minute how people can sometimes get nasty, and it’s so foolish, just stay in the relationship. Everything is relationship-based.

 

And as you build your relationship, it can be an owner, it can become a seller, it can become a buyer. And whoever it is, if a guy is in the 1031, please give me a call. I would love to work with you. If the guy’s looking to sell his property to a 1031 buyer, please give me a call, I’d love to work with you. That’s how typically I like working with 1031 investors. Like I said, anybody who’s a very verified closer to somebody who I like, I enjoy working with.

 

Josh Cantwell: Yeah, no doubt. Reuben, is there a typical deal if somebody’s exiting a 1031 and from whatever asset class it is, and they want to move that money into multifamily, is there a typical structure in multifamily that you feel works best for 1031 dollars? Is it more of a cash flow play where it’s cash flowing off the rip and it’s already kind of stabilized? Is it more of a deep, heavy value add? Based on your experience, is there a type of deal where you think those 1031 dollars usually makes the most sense if somebody wants to take a $5 million or a $2 million or a $10 million 1031 and plunked it down somewhere? What are your thoughts on structure? What do you think from your experience is kind of the best route for them to go?

 

Reuben Goldbaum: So, here’s where I think I might be a little bit different than most people who would answer that question. Most people would answer that question, would say, well, the 1031 guy just wants to park his money, let’s just say, and exit. I disagree. I think the 1031 guy is the same as any other buyer, he’s just stronger.

 

So, whether he wants to do a value-add play, whether he wants to do a cash flow, whether he wants a trophy asset, whatever it might be, I think the world is always there. Go crazy, man, you are the best buyer. You are a 1031 buyer. You’re the best freaking buyer there is, and the sellers would be lucky to have you because the only thing ultimately that the sellers care– you told me you just sold a lot of properties last year, the only thing that sellers care about is the certainty of closing. That’s the number one thing they care about.

 

I mean, I just got this deal I mentioned about a three-pack in Houston, it’s what just happened. A week before closing, the buyers backed out, and the seller is fuming, he’s furious. I mean, it’s his…

 

Josh Cantwell: Done all over, re-market the property, wait 90 days, 60 days at best, 90 days with an extension.

 

Reuben Goldbaum: Yeah, exactly. It’s the worst. So, they care about closing. A 1031 buyer, just close, baby. That’s it. Just freaking close. So, that’s the way I look at it.

 

Josh Cantwell: That’s your niche now, you’re working with people high net worth, certainty of closing, very important, building your new brokerage and your brand with your direction, owner based, I love it. It wasn’t always this way. You started, you were at a 1031. You said you were a W-2 and you kind of did that first deal you started to talk about. But tell me about the early days, what was it like when you thought, this 1031, this W-2, maybe isn’t for me as much as I thought, I want to do my own thing, I want to be an entrepreneur, build my own company? And then normally, there are some early challenges, I only bring that up because I know full well, I’ve done it many times, I know what the early challenges are like, what were the early challenges like for you?

 

Reuben Goldbaum: Well, I just remember, my wife was expecting our second kid, and I came home from work one day and I said, “Honey, we have to have a talk.” And she said, “Well, what do you want to talk about?” I said, “Well, I think it’s time to go.” And she said, “What? Are you crazy? We’re about to have our second kid? We don’t have a house yet. What are we doing? You can’t just take such a leap.” I said, “I don’t know what to tell you, but I need to start doing something my own.”

 

And I walked out of that job and I had only a few thousand dollars in my bank account. And I didn’t really know what I was going to do because like I said, I knew some stuff, but I didn’t really know. And I mean, I just remember that first week where I went to the office and had to pay my own bill for the office, then I had to pay my own bill for my G Suite, then I had to pay my own bill for my– and I was like, oh my God, I paid for sales training, and I see my bank account is dwindling and dwindling. And I’m like, oh geez, what did I get myself into? And thank God, you push and you push. And I got lucky enough to get one opportunity that led to another and another, but it was so scary.

 

That year, I told my wife, I said, “Six months, I need six months. If I don’t make any money in six months, I’d go get a new job. I need six months.” And I think that was a good move because it gave me a little bit of a buffer. I had enough money in the bank account where I was paying my bills. I wasn’t going to become homeless.

 

Josh Cantwell: Because that deadline, you’re like…

 

Reuben Goldbaum: She was counting down.

 

Josh Cantwell: 182 days, not a day more.

 

Reuben Goldbaum: Oh, my God. So, maybe the six months was in my head for 1031 because that’s also one of the timelines. It could be that was in my head. But it was a scary time, but it was also exciting because you walk out that first day and there’s no low. I’ll never forget getting a call from somebody I was working with at like Friday afternoon and like 7:15, I was already gone for the day and I had to go and take care of it like a wire or something. And I was so annoyed about it. It’s not my job or give it to somebody else. And that gave me the impetus. Go, do what you want. Live your life. Don’t be stuck in to the box. And it’s been a good ride, and hopefully will continue.

 

Josh Cantwell: Nice. I love it. So, what was the first big win like? So, you go out on your own, you’ve got six months, early challenges, bills are piling up. When did you know, probably with those first couple of wins, that you made the right decision?

 

Reuben Goldbaum: It’s a great question. In brokerage, it’s a little different than most because brokerage, you can go a year without closing a deal, then you could go a month and close four deals and earn a lot of money on just four deals. Especially me, I’m not splitting it with anybody, it’s all my commission.

 

So, the first time I got an opportunity was my partner had a friend who gave us a shot. He said, “I have a property in Maryland, go sell it. Relatively small deal, 115 units, go sell it.” And we brought him a buyer. And it was exhilarating. I mean, it was literally exhilarating. And they went in, and we got our first LOI. And that LOI, we held them to it. They tried retraining, and we held them to it. And we actually got them to close. And I think it was amazing. It was the best feeling in the world. You can’t even imagine that. It was unbelievable. It was amazing. I mean, for a few reasons, aside from my own personal victory, but the whole, like the adrenaline, it was exhilarating, it truly was. It was awesome.

 

Josh Cantwell: If you look back, what advice would you give that self, that person that made that leap from the W-2 to entrepreneurship, the W-2 to commercial real estate? What would you look back to your younger former self and say, man, Reuben, you did this, this, this, and this, you did it right? You did it right, like, good job. Do more of that. And what would you say, holy crap, Reuben, you totally screwed that part up? Like, don’t ever do that again. You’re talking to our audience or your younger self, what kind of advice, good or bad, would you take out of that experience?

 

Reuben Goldbaum: So, there are a couple of things I learned. I would say the two most important things that I learned were, number one, we’re both about people that I was going after. I had a fear. As a salesperson. it’s always scary, you’re approaching people, you’re reaching out with people, and you’re bothering them, you’re annoying them throughout the day. And I realized that it’s not true. They’re dying to speak to you. You just have to be upfront and honest and a nice person.

 

And they’re not any better or worse than you as a person. We’re all the same as far. Don’t look down or look up. If a guy is not as successful as you, don’t look down on him. If a guy’s way more successful than you, don’t look up to him, he’s not any better or any worse. Nobody’s any better or any worse than you. That was one thing that I would say. And it took me a while to get the confidence to make that cold call or make that call to that person that you would never speak to, if you would see him on the street, you’d be scared. That’s one thing.

 

Secondly, it would be just stop being so scared. Take a leap of faith. Have some faith in yourself, have some confidence, and make it happen because you can. I mean, it takes time and it takes a lot of luck and help from the one above, but do what you got to do, do what you feel is best. Go with your gut sometimes because sometimes you’re sitting in a W-2, as long as you can, of course, I’m not talking about a guy who’s making X amount of money with X amount of expense and he can’t do it. If a person is able to do it, go take the leap. If you believe in yourself, then you should. We’re talented, good people. And if you’re working in a job for a long time, grab it, man. Grab it by the frickin heart. That’s what I would say. Those two things.

 

Josh Cantwell: The other thing you mentioned earlier too was, we obviously went to a lot of conferences, you mentioned IMN, you mentioned other conferences you’ve been to. What do you think, in your opinion, are some good conferences today? There’s kind of the old good ones that have been around forever, and then there’s obviously some new up-and-coming type of conferences. Obviously, the COVID stuff is wearing off. People are getting out, they’re traveling, they’re on planes again. They’re going to live conferences face to face. What are some of your favorite ones to attend? And where do you think people can get the most value?

 

Reuben Goldbaum: There are some unbelievable conferences, some that I’ve done well, specifically with ICSC, I did very well at. As you can see in the video, I’m Orthodox Jews. So, in our little society of us, we also have some of our own events, not unique to us, but just our network, and those have been very good to me. But like you said, COVID has been a problem. I think it’s so easy to find events. Go online, Bisnow does events all the time. Commercial Observer does events all the time. Go on Eventbrite, search local real estate events. There are so, so many. BiggerPockets does events. I know companies like Jake & Gino do events and so many. There are so many options out there. It’s awesome to just go and have fun.

 

First of all, it’s fun. Second of all, you meet people that you would never, ever, ever meet. I mean, never. And it’s cool. So, I can recommend that. I love networking. Spend the money, it’s not that much. I mean, ICSC, things like that are very expensive. There are very cheap or even free events all over the place, literally all over the place. People advertise them on LinkedIn, whether you’re in New York, whether you’re in Houston, whether you’re in California, there are events everywhere. So, just make it happen.

 

Josh Cantwell: Fantastic. Love it. Reuben, last question, if you were starting over completely and you had to research markets, you had to learn about a new market, you were starting over, but you had the knowledge of what you have now and you wanted to research new markets to invest in or broker in or lend in, are there any tips of the trade that you use to identify markets that you like to be? And I know you said you’re owner-based, you’re more about the relationship and that takes you to the market, but let’s say you find a new owner, and the new owner happens to have a deal in Louisiana, and you’ve never been to Louisiana, what kind of things are you going to do off the rip out of the gate to kind of start to educate yourself about that market? Are there any certain reports that you read or places that you go, websites that you read that you kind of rely on because being owner-based is going to take you to places that you’ve never been to? So, I’m curious how you manage that.

 

Reuben Goldbaum: It’s a great question. Of course, I would go on the typical, you go on Google Maps, you go on Apartments.com, you search a little bit about what’s going on. Just to understand your question, to find the new market, that would be just based on my research, of course, I’m going after specific owners and then I’ll find out where they own. So, I don’t necessarily look for new markets as far as finding owners, but if I get a deal in a new market that I know nothing about, the first time I got a deal, I just closed the deal in Houston not long ago, that was the first deal I’d done in Houston. It was in Clear Lake. I don’t know if you’re familiar with the area.

 

So, it was a nice 250-unit property in Clear Lake that I just sold. And I knew nothing about it, literally nothing. So, I spent some time. Like I said, you go on Google Maps, you go on all those things. But then you have to sometimes spend some money, go on things like CoStar, call some people that you know who own some of the neighboring properties, just get as much possible information as you can. I mean, it’s so much easier.

 

I don’t know how long you’ve been doing this, Josh, but I’m only in the commercial real estate world a few years. Twenty-five years ago, this was impossible. It was nothing. There was nothing online. Now, everything’s online. It’s so easy. You can find tax assessments, you can find insurance quotes, you can find so many different things in order to make that underwriting so much easier. People spend hours and hours and hours and hours underwriting. I think that’s foolish in a way.

 

To get your initial view on a property shouldn’t take you that long. To get your initial, I’m not saying to give an LOI, but just to see whether this is something for you or not should not take that long. And some people spend hours and hours. I find that, no, do your research. It’s all mine. Have a guy that spent three or four hours on it and knock it out. Everything’s available. Google Maps, Apartments.com, RentCafe, Rent.com, CoStar, Reonomy, things like that, just hit that. Hit them hard, and you should be able to find all the information you need.

 

Josh Cantwell: Fantastic stuff. Reuben, listen, I love your energy, man. This has been a great interview. I appreciate that. Again, I want all of our folks to reach out to you, do deals with you, especially if they got a 1031 exchange that they’re working on. You seem like just a fantastic and fun person to be around. So, give us your contact information again. You mentioned you’re on LinkedIn as well. Where are some places that people can reach out to you?

 

Reuben Goldbaum: That’s awesome. Okay, yeah, so you can follow me on LinkedIn, like I said, Reuben Goldbaum, and send me a text. Give me a call at 347-471-3669. And looking forward to working with everybody. My email is reuben@cgcommercialrealty.com. Listen, anybody who’s willing to work with me, I do have the energy. I love working on this. It’s fun, it’s enjoyable. And also, you’ll learn a lot every single day. So, really, it’s been a fun ride. And thank you so much for having me, Josh. This is awesome. So, I really enjoyed it.

 

Josh Cantwell: Thanks so much for joining us today on Accelerated Investor.

 

Reuben Goldbaum: Thanks, man.

 

[CLOSING]

 

Josh Cantwell: So, there you have it, guys. Listen, I love bringing resources and tools and information to you that you can use in your own practice and in your own business. Reuben and I obviously mentioned numerous tools in that interview that you can use for research. Also, different events that you can go to. Obviously, Reuben’s an active broker with real deal flow that you can go offer on right now. So, his contact information is in the show notes.

 

And look, guys, I don’t like just talking about this stuff. I love doing deals. If you want to do more deals and you want to be more involved and have a great group, a great ecosystem that you can share with, joint venture with, raise capital, close properties, consider applying for our coaching and mastermind and partnering program. It’s called Forever Passive Income, and you can apply at JoshCantwellCoaching.com.

 

Right now, we’ve got about 75 to 80 active members, people who are very intermediate to advanced investors that own portfolios or very active advanced residential investors leaping into multifamily. It’s a fantastic group. I love to run it. And I would love to have you apply and see if you could be considered. Check it out at JoshCantwellCoaching.com. We’ll see you next time. Take care.

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