All Forum Posts by: Luke Saglimbeni

Luke Saglimbeni has started 11 posts and replied 148 times.

@Jack Baczek. I value ROE in stock investing as a way to see the efficiency of management. For rei my main keys are cash flow and coc return

1 Vote

Funds and trustworthy partners with $ to partner with.

0 Votes

Personally, my wife would retire, I would purchase a commercial building so she can open up her spa/restaurant of her choice. (one of her many dreams). Interest rates on the mortgages are very low historically speaking. I wouldn't pay off my mortgage. I would acquire a few apartment complexes in geographically diverse and recession proof (as much as it could be) areas. The rest would be put into stocks(I am a stock junkie too)..we could live off the cash flow and travel whenever we wish...

3 Votes

the thing i love about real estate is it can and will and has created win-win-win situations.... this is an opportunity for you to do the right thing. I like what Jeremy mentioned, set up a time to talk with them and understand their situation. In my studies, I have learned situations where if you are nice to these wiser elder individuals, they may return to you a lot more than a profit. Karma is real. Some people had elder tenants who had no one. Ended up the landlord was in the will for certain items....at the end of the day do the right thing...you will not regret it and karma pays back double+...especially during the cold wintry Christmas season

3 Votes

Originally posted by @Michael Ealy:

Originally posted by @Luke Saglimbeni:

@Michael Ealy

I’d rather learn and make the mistakes on the smaller deals than on the big multi million dollar deals

Luke, I agree. In fact, I answered here on BP that it's better for a newbie investor to invest his/her own money first and make mistakes on their dime not someone else's.

However, the human tendency is to get comfortable doing small deals. If you have big goals and dreams, scale up as fast as you can. But, start where you can or push yourself to start a little bit higher than you can. For example, if you're comfortable buying an SFR, maybe push yourself to find a good 4-plex instead. If 4-plex is your BIG deal, then strive to go for that. Then scale up some more once you've achieved success.

That's what I've observed successful real estate investors do: they continually improve themselves and push themselves out of their comfort zone.

Someone said this but it goes something like this: "Everything worth while achieving in life is just outside of your comfort zone."

Makes sense?

Makes sense and right on. I am near the end of the book the art of the deal by President Trump. He is all about thinking Big amongst other things. It's a very good read and I'd recommend it for all REI, regardless of opinion on him.

2 Votes

Originally posted by @Michael Ealy:

Originally posted by @Victor Whitney:

@Michael Ealy

However everyone cannot start big. Do you have any advice for those just starting off? I’ve acquired 2 properties and looking to head towards your level however it is a process.

Victor,

Yes, I agree. Not everyone can start BIG and also, what's big for one can be small for another.

My point though is to not get stuck doing small deals by getting to bigger deals as fast as possible.

The limited thinking that "BIG deals require a lot of capital and therefore I won't do it" - I mean, I had that limited thinking for the longest time. And knowing what I know now, I wished, I scaled up faster than I have done.

All of wealth-building is about leverage. Whatever you lack, someone else has it. You lack money - someone else has it. You lack experience or track record - someone else has it.

In my webinar today someone asked me: "How do you raise capital for a hotel deal if you're someone new to it and without a track record?" I answered, "I didn't have the track record when I started. But, I leveraged on someone else who has." I got an experienced hotel operator with the track record and lenders and investors love that.

I got the deal put together because I did not allow that "problem" become a stumbling block. From where you are at, and where you want to go, you can use the same principles to do bigger and bigger deals.

Hope this helps.

the book by Donald Trump, Art of the Deal goes over these in detail as well.

1 Vote

@Michael Ealy

I’d rather learn and make the mistakes on the smaller deals than on the big multi million dollar deals

1 Vote

@Nathan G. Not starting out sooner

3 Votes

Great turnout and a lot of information shared. Thinking of spinning off an additional meeting in Enfield to have one every other week. Will keep everyone posted.

1 Vote

@Martin White yes i'll be there in east longmeadow starbucks (where the crazy intersection is). See you tonight

1 Vote

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All Forum Posts by: Luke Saglimbeni

Luke Saglimbeni has started 11 posts and replied 148 times.

Post: Return on Equity - How does it impact your RE investing

Post: So what's holding you back?

Post: What would YOU do if you have a large sum of money?

Post: How To Evict Old Ladies?

Post: Small Deals Mean Wasting Time & Making Small Money

Post: Small Deals Mean Wasting Time & Making Small Money

Post: Small Deals Mean Wasting Time & Making Small Money

Post: What was your biggest mistake starting out as a Landlord?

Post: Hampden, MA county Meetup

Post: Hampden, MA county Meetup