The 3 Habits of Successful Apartment Building Entrepreneurs
Many investors want to get into apartment buildings. They rightly view it as a way to achieve their financial goals and they recognize that any other investing strategy (such as single family houses) will simply take too long. Some of those investors actually take action and invest in their education: perhaps they buy a course, […]
The 3 Pillars of Real Estate Start-Up Mastery
Through over a decade of starting various business and now working with students who want to get started with apartment building investing, I’ve come to the conclusion that the only way you can master any new skill, start any new business, or change anything meaningful in your life is to address each of the following three […]
So You Want to Be a Real Estate Investor? Here’s What it REALLY Takes…
My wife texted this photo to me of a traffic light in Washington DC. What are you supposed to do with a mixed signal like that? It reminded me of a quote by Andy Stanley when he said that “direction, not intention, determines your destination.” How many times do we give ourselves mixed signals about […]
Read This Before You Decide to Manage Your Own Property
In last week’s article I talked about being real estate entrepreneurs, not investors. This is a HUGE difference in mindset and also in practice. One result of having the mindset of entrepreneur is that you should not do all of the work yourself but instead surround yourself with an awesome team and delegate. In particular: Don’t […]
Don’t Be a “Real Estate Investor.” Instead, Empower Yourself By Doing THIS.
One of the biggest objections I hear from investors about getting into larger real estate deals like apartment buildings is that they don’t have enough cash or experience. So they limit their real estate strategy to their current abilities and resources. This is one of the biggest myths in the world of real estate investing. One […]
8 Simple Ways to Maximize Your Apartment Building Profits
You’re probably already familiar with the power of commercial real estate. For example, if you’re able to increase rents by $50 and decrease expenses by $50 per unit per month and you have a 24-unit apartment building, you’ve increased the income of the property by $28,800 per year. Not that much, you say? It doesn’t seem […]
2 Clever Negotiation Tips to Get More Deals Under Contract
It’s ideal to negotiate directly with the seller in person. You should always work to try to arrange that whenever possible. This allows you to establish rapport and more quickly talk through different scenarios to try to reach an agreement. Most often, however, the broker will make sure you don’t get the chance to do […]
Newbies: These 3 Simple Steps Will Prepare You For Your First Deal
How will you get the experience when no one will take you seriously? The answer: by faking it til you make it. Here’s how.
Why, What, and How To Communicate With Your Investors
While I wrote a lot about FINDING investors for (primarily) apartment building deals, I’ve not really discussed how to interact with your investors AFTER closing. It’s critically important that you communicate with your investors, for at least three reasons: Common courtesy: it’s polite to keep in touch with people who funded your dream. To avoid […]
6 Common Excuses and How to Overcome Them
In last week’s article (“Why Most Wannabe Investors Never Buy a Single Property (& How to Be Different!“) I talked about the importance of DECIDING what you want and then follow them up immediately with ACTION that brings you closer to your goals. One of the key factors that prevent people from taking action are […]