All Forum Posts by: Andrew Schutsky

@Uri Frodis as you've probably seen there are countless threads on here regarding the many options out there regarding coaching and mentoring programs.  My advise to others is typically this - think about what YOU need most on your journey.  Is it a formal education framework? Is it an accountability partner or team?  Is it leveraging the knowledge and network of others?  Think about what  you need personally the most to be successful and compare it to the components of each offering. 

There are many ways to skin a cat - many of those who were most successful did not go through a larger formal program, but almost always they had a mentor in their corner. 

Thanks @@Larry Lemer and @Eric Johnson! Keep them coming...

Hi All,

A couple of quick questions and poll to the group here - we're in the process of building a podcast platform and wanted to solicit some input from this group. 

-Why do YOU listen to a podcast? What are you listening for? Advise, entertainment, etc? 

-What are you NOT getting today that you'd love to tune in to? 

-What do you listen to now that you want MORE of? 

Thanks in advance, really appreciate everyone's input. 

Best,

Andrew

@Laurent Meyer have you performed any market research? Marcus and Millichap and CBRE for example provide some excellent free market data that will help solidify your market selection and choices with real data. 

Look for: Population growth, Job growth, Job diversity (industries and employers), Rent growth projections, Absorption/Construction ratio, Cap rate trends just to name a few

Christian - one suggestion from my end: find out what they're struggling with and/or what's holding them back from growing his/her business and find a way to help them.  Try to find a match with your strengths and/or willingness to learn with their needs. 

Is it finding investors? Is it help with social media marketing? Is it help with asset or property management? 

Some of the tactics that I've read and some that I've used - most of which boost the confidence of the seller that you would close on time:

-Come in with "hard" earnest money from day 1 (this appears to be popular in DFW) and/or increase earnest money deposit

-Reduce time to close as stated above 

-Compensate seller for any extensions in closing (in the PSA up front) 

-Depending on the seller's current loan situation, offer seller financing (this could be a win-win for both) OR assume the current loan which could help them out huge with yield maintenance 

-Some have had success buying nearby properties or offering on nearby properties at the same time which could make a case for a higher bid with larger economies of scale on expenses 

-Don't develop a reputation for re-trading :) 

First and foremost, one needs to know where their strengths are and where they need help the most. What is your learning style? Do you benefit from regularly accountability engagements? Do you thrive when challenged by your committments? Are you a self starter or self learner?

As discussed over the past 5 pages, there are MANY options. Which program or coach for you and/or how much value provided is going to entirely depend on what they provide vs. what your individual needs are IMO.  It's as simple as matching up what they offer vs. how each of those components will benefit you or accelerate your progression.

I'm also in favor of variable rate financing with the caveat that there is a reasonable cap on the rate amounts over the projected hold period.  I'm also in the camp of rate increases are "less worse" than yield maintenance, but I also hold some reservation with the amount of funds being pumped into the economy and the resulting inflation that is all but inevitable.  

+1 for Michael's SDA - it would take you DOZENS of hours to replciate something as useful.  The only feature I see lacking at the moment is a sensitivity analysis.