The importance of relationships
Saturday, April 23
The real estate business is all about relationships. When building your business, the worst thing you can do is make prospects feel like everything with you is transactional. Grant Cardone famously says, “Contacts = contracts. The difference between those two words is the letter R. The letter R s...
HOW MULTI FAMILY INSURANCE WORKS
Friday, April 22
I finally understand how insurance works in the multifamily world. I learned this from an insurance broker I talked to yesterday. There are three kinds of apartment insurance coverage: Tier 1, Tier 2, and Tier 3. Tier 1 company has the best insurance coverage at the best price. The catch is tie...
I'M OUT OF THE SINGLE FAMILY BUSINESS
Friday, April 01
I sold my last single-family house in my portfolio recently. I can proudly say I have never lost money in real estate. On some deals, I profited and on some, I broke even. The funny thing is I learned more from those I broke even on than the ones I profited from. I can take all those lessons and ...
HERE'S WHY I DON'T THINK WE'LL SEE A MAJOR CORRECTION FOR A WHILE
Sunday, March 27
We all know the saying, “what goes up must come down.” We also know that the real estate market is cyclical. Historically, real estate cycles have lasted 8-9 years. However, we have been experiencing property values going up and interest rates going down since 2009 (over 12 years ago). In yestery...
WHY I WALKED AWAY FROM A 40 UNIT DEAL
Tuesday, March 22
Last week I was in contact with an owner of a 40 unit apartment building in Independence, Missouri. The property was under a HAP program. To be honest, I was not familiar with the HAP program. All I knew is that the HAP program is another subsidized program and is comparable to the section 8 prog...
WHY I WALKED AWAY FROM A 40 UNIT DEAL
Tuesday, March 22
Last week I was in contact with an owner of a 40 unit apartment building in Independence, Missouri. The property was under a HAP program. To be honest, I was not familiar with the HAP program. All I knew is that the HAP program is another subsidized program and is comparable to the section 8 prog...