All Forum Posts by: Eugene Rabinovich

So I've been to a couple different types of networking events before the you know what.  One is where folks get together at a property nearing completion, have a couple of sips of ice tea, look at the rehab, and just talk. This could also just be a get together at a someone's residence.  These are nice but not alway that fruitful. The other is a more structured approach.  Meet at a bar or restaurant.  Start with a little social hour networking.  Then have a speaker like a wholesaler or someone such as a real estate attorney or accountant. Most people in this business love to share as long as someone pays for their meal. That person should be able to share some real info and not just high level stuff.  Restaurants or bars will work with you if its on an off night and everyone understands the need to buy a sandwich and have a drink or 2.  Jeff Johnson did this last year once a month in Charlotte.  Always packed.  Don't pick a night that one of the REIAs are having their main meeting.

@Eugene Rabinovich

80% of what would have been most helpful is understanding what lenders require to loan money. Especially commercial underwriting.

Once I figured that out I was able to buy a whole lot more property. 

Remember that unless you’re paying cash the lender is the real decision maker.

@Bonnie Low hit the nail on the head.  Start now.  Do your research.  Analyze each deal.  Make business decisions, not emotional ones.  Take any personal bias out of it.  Just because it's not the house or apartment you would live in, everyone deserves affordable, clean and well maintained housing.  So look outside your comfort zone.  Remember, building equity is long term.  Check out this site: https://www.visualcapitalist.c...  On average real estate has increased in value significantly over the last 20 years.  
"At the turn of the century, the average U.S. home value was $126,000. Today, that figure is at a record high $259,000 – a 106% increase in just two decades."

And while I'm on the subject, every property you buy should always be top notch.  It might not be in the most prestigious neighborhood in your city but never say its good enough for this neighborhood.  If a tenant is paying 400/month or 3,000/month they deserve the same respect and attention.  Take care of your tenants and they will take care of your property.  I don't mean to preach but we all hear about the landlord who let's their properties sink into disrepair because they put short term gains ahead of doing what's right.  Be that landlord that get's Christmas cards from your tenants, not complaints to the housing board.