Posted 5 months ago

Why Clarity Is The Key In Real Estate

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We run a great meetup and one of the things that we constantly are referring back to is that you just need to be specific to what you want. You need to be specific to what you're going for. And if you're not being specific for what you want, well how are you going to get it? How are you going to have other people help you to achieve that? So if one day you want to do flips and the next day you want to wholesale properties and next day you want to buy properties to Airbnb and the next day you want to buy multifamily properties.

Well, what are you actually doing? Well, you're really doing nothing. You're just coming up with ideas that look great on paper. But in the multifamily space, we're going to dive you in further. You need to be as specific as possible. So the market to the submarket, to the type of properties you're looking on, the age of the properties, the style of the properties, the a class of the properties, the income levels around you. And with that, if you can do that and tell people specifically what you want, what you want to spend, well ideally you're going to have much easier access to those properties because people aren't going to just be blindside of not really knowing what to send you. If there's a broker out there and you say, yeah, I just want to buy multifamily properties in your area and then they send you right up your alley because you just said, I'll just buy multifamily properties.

But if you're specific that a point I want to buy hundred to 150 units, ABC assets in the Southside of the city, five to $10 million, well not only cannot help you along the way to give them guidance for what you want, but now if you're syndicating a deal, you honestly can have a good take of how much money do I need to have set up? How many conversations have I do? I need to have to make sure that I can align with that purchase price. So if I am looking at a $5 million deal on paper potentially maybe a one and a half to a 2 million our rates. So how many conversations do I need to have to help enough investors to be able to invest up to $2 million into a great deal? And once you do that night and go comfortably out finding those great deals, but if you're not specific, how are you going to get to any of this?

How are you going to get yourself out there to know what's available if you're honestly fine with anything? So being specific, and I think sometimes people think that being specific will hurt you, right? It's going to hurt you because you're going to miss out on opportunities. No, you're going to find opportunities. You're going to find the opportunities that are right for you because you're telling the universe what is that right opportunity. If you're just fine with anything, you're not going to get anything cause you're not going to know what's actually fine enough for you. So be specific today. Take a moment. Just think, what do I really want? What is going to help me? What is going to help our investors? What is going to help everyone around us get to the point of finding the right deal for us?

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