As with many other aspects of life – the real estate business can be a real jungle to maneuver. For many of us, it’s exceedingly easy to lose focus, make bad decisions and get sidetracked along the way (often times, without even knowing it).
This past week, I’ve been asking some of my friends in the industry for their input on this issue. My goal was to compile a list of the most important recommendations these experts had to offer from their years of experience in the real estate business. What I got was a healthy collection of insights that I think you’ll find quite enlightening.
Specifically, my question was this:
If you could only give 3 recommendations to a new real estate investor (based on your own experience in the business), what would be your Top 3 most important pieces of advice?
Not surprisingly – there were a few common themes that seemed to come up again and again throughout this list… can you spot what they are? [click to continue…]
I’d like to introduce you to Conor Flaherty – a guy with a wealth of experience in flipping apartment buildings, single family houses. He’s an expert in an area that I’ve always wanted to learn more about – so I’ve asked him to give us a the low down on how this all works.
What’s so great about dealing with large apartment buildings? I think it’s the fact that in many ways, it’s similar to dealing with a small property (like a single family house), but the numbers and profit potential is compounded, like a regular rental property on steroids.
I’ve asked Conor to give us a detailed overview of how these opportunities are found, financed, bought and sold. Take it away Conor!
Flipping an apartment building is a different animal than flipping a single-family home. The main difference stems from the way these buildings are valued.
Most single-family homes are valued with the comparable (or “comp”) method. This method takes similar homes that have recently sold and uses them to establish a value based on their similarity to the subject property. In other words, if the house next door sold for $100 and is exactly the same as yours, then your house should also theoretically sell for $100. [click to continue…]
This past week I got to sit down and talk with Joe Fairless on his podcast – Best Real Estate Investing Advice Ever.
We spent 25 minutes chatting about land investing, how I got into the business, some of the advantages and disadvantages of land investing in general – along with my answers to Joe’s lightning round:
- My Best Real Estate Investing Advice Ever
- Best Book I’ve Ever Read
- My Best Personal Growth Experience and What I Learned
- My Best Success Habit
- The Best Deal I’ve Ever Done
- My Best Ever Quote
If you’re looking for a new podcast to listen to during your workout or daily commute – check it out!
Most aspiring entrepreneurs have big dreams about their new venture. They know exactly where they want to go, but they have no idea where to start.
It’s an understandable dilemma. Back when I started my real estate investing business, I remember having some pretty huge ambitions, but no tangible direction on how to actually take that first step.
What I found in my first year was that there were a few key pieces of “business infrastructure” that simply had to be in place in order for my little company to function the right way (and this infrastructure applies to almost any work-at-home, “solopreneur” business).
Lucky for you and me – it’s fairly easy to implement things and they all play an important role in protecting our personal interests and helping our businesses to function seamlessly, day in and day out. Let’s get into it…
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Of all the “tricks” I know that can sell a property quickly, I’d say the most powerful tactic is to simply price your property right in the first place.
It may sound like an obvious answer – but there is a lot more to this process than just picking the right number. Even when you have a solid, data-driven valuation of your property, you’ve only just begun to determine what your actual asking price should be.
What is Value?
To start with, we need to establish what the word “value” actually means to your buyer. [click to continue…]