All Forum Posts by: Golan Corshidi

Sam Zell was one of the pioneers of the REIT (Real Estate Investment Trust) and a billionaire real estate investor. Here are my five main takeaways from his book.

Book title: Am I Being Too Subtle?

First, the book is excellent for anyone looking to learn more about investing in real estate. He gets pretty detailed in his underwriting processes so I highly recommend checking it out. If you have Spotify Premium, you can listen to it for free. Here’s the link: https://open.spotify.com/show/55gfBKzFtocE9Yw8YUsnhR?si=d717286d4eb242cd

Avoid Competition: He refused to go for deals that had a lot of competition. He looked for situations with little to no competition to ensure he got a good deal.

Gratitude: The book opens with Sam Zell discussing the challenges and risks his parents took to survive the holocaust. He used this experience to motivate him in his work and be grateful for the opportunity he had. 

Long-Term Relationships: He felt that most people in the industry were too focused on the deal in front of them that they weren’t thinking about the long term. Relationships and trust take time and he talked about how many deals he got done simply because he had that long-term view. 

Focus on Calculating Downside: Many investors calculate the upside of a deal and get fixated on the best case scenario” He felt that to understand the risk of a deal, it's important to calculate the worst case scenario and what that looks like. He would only do deals where he could survive the downside.

Have Fun: He repeatedly used the phrase “Don’t take yourself too seriously” and this came out in how he operated. He had fun with his work and colleagues. This spirit of fun helped him to enjoy his work for many years.

Any other autobiographies you all might recommend? Real estate or not, just looking to learn more from the best!

 sounds good! will do. 

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@Armando Leon sounds good! I'll send you a message. Let's set something up and invite others that might want to join. 

Hey Andres! 

I'm down to meet up. I've been looking into investing out of state as well. Let me know if you want to plan something. I could ask others to join too.  

Key Kelsey! For data, I love Redfin's data center. Here is the link: https://www.redfin.com/news/data-center/

I did a basic search of the general Tucson area and here's what the chart looks like for MFR active listings since June 2020.

You can also look at other data points like Median sale price, days on the market, etc. 

In regards to demand demographics, yeah I think you'd be targeting a different group, and supply/demand has to be looked at closer. I am not sure what the demand looks like specifically, I would look at the rental market for that data and see if you can command the rents you need to make the deal work. 

Hope this helps! Good luck. 

One of the most common topics discussed on bigger pockets and other real estate forums is the decision between a property that cash flows and one that has the potential to appreciate. 

To take this further, I recently tuned in to the Bigger Pockets podcast and one of the featured guests proudly stated that they are negative cash flow but that's fine because the property is expected to appreciate in 10+ years. I know this is an extreme example but the framework is there.

I don't think making an investment decision based solely on predictions of the future is a wise decision. Some markets may not cash flow that well and I get that but to say that it's okay to be in the red for multiple years because you have underwritten the market and know values will go up sounds crazy to me.

I have only done a few deals to this point so maybe I am missing something but I would love to hear your thoughts on heavily weighing appreciation as the decision to move forward with a deal even when negative cash flows are the most likely short-term situation. 

Do you invest solely based on appreciation? If so, why? 

Hey Laura! You should be able to delete the listing and repost it. I've done it before. If that doesn't work, you can always create a new listing and put a random unit number after the address and it will show as a new listing. 

Hey @Kelli Powell!

I've found good luck using two methods to find reliable work.

1. Facebook groups for landlords: I would search on Facebook for a landlord group and search posts or posts yourself what you are looking for. For cleaners, also check vacation rental hosts Facebook groups. There are a lot of cleaners on those. 

2. Post Part-Time Job Posting on Indeed: I have posted part-time jobs on Indeed (or other job posting sites) for specific jobs and got a list of reliable workers looking for part-time work. I clarified that it was for on-call work only so it wasn't misleading. 

Best of luck to you! 

Hey Jeffrey! I operate coliving homes in california mainly but what help are you looking for? If you're looking to just stay legally compliant, I would check your cities laws regarding rooming houses. Most likely, since its owner-occupied there shouldn't be much you need to do. I would make sure your lease agreement is good. I have a solid lease template I got a lawyer to draft. Its for California but happy to share it if you want it. 

Other than that, if there is anything else you need help with feel free to message me! best of luck to you.