All Forum Posts by: Myles Wisdom

Hi All,

I am wondering if anyone is aware of what a typical lease-up phase for a new office building to achieve stabilized market occupancy is. If so, any references to a textbook/article would be greatly helpful! 

@Alberto Leon. In addition to the other excellent points mentioned above, I would also add that you should keep in mind the governmental influences in place by not just the state but also your municipality. And by that I mean to take a close look at the city's official plan that has been developed to see what and where the growth objectives are.

Also try to get in contact with the economic development office and see how willing they are to provide information as that can be an indicator of how forward-looking they are. 

All the best! 

@Bruce L. @Ryan Swan Thank you both for your suggestions! I will be taking a closer look into the Buildium software to see what it can provide.

I'm just looking to find out from you all what you consider to be acceptable reporting from a property manager if you are an owner of only a few rental properties. 

I can understand that it wouldn't be as in depth as for someone who owns multiple apartment buildings but what should be the approximate standard of communication and reporting for a Landlord who only has about 1-2 rentals?

Definitely still holds relevance! Not just to Canadians but to investors everywhere. Highlighting that its not going to be a cake walk and to make sure you have a strategy and plan in mind (that is not just counting on capital appreciation) is super important to make sure that as Buffett says, you don't get caught "swimming naked when the tide goes out". 

I ask this with the intent of trying to get an understanding on when we as investors should know that it is time to gear up our portfolio to be able to weather the incoming storm

Surely as Mr. Market goes through his inevitable cycle, at some point it is bound to hit the inevitable "frenzy mode" where Real Estate is being bought and sold like hot cakes. With that said, what are some actual ways to track the direction the market is moving? What are the key trends to watch for and where do you go about actually find that information? 

Hey @Taylor Green 

In my opinion, I believe you could make a case about several different degrees out there being beneficial primarily because real estate is so multifaceted that knowledge from different disciplines in one way or another can aid in helping your investment decisions. In my mind though there are three degrees that I think have the most direct relation to real estate investing (sorry I can't pick just one lol) and they are: 

(1)Economics- Real estate like all businesses, is affected by the happenings on both a macro and microeconomic scale. Being able to understand at least at a fundamental level the underlying reasons as to why the market is heading in the direction that they are as well as what is driving your specific market/area and also the principles of supply and demand is essential in the due diligence process when selecting an area to invest in. 

(2) Psychology- Real estate is a people business! If you can communicate and understand people and the motivations behind their actions (ie. why they buy and sell, or why people tend to follow the crowd in investment choices), you are likely to see success. A growing field in this area is Behavioural Economics and within that you can find research and books on Investor Psychology which is all very interesting and exciting if you're into that stuff! (Disclaimer: I am a proud owner of a psychology degree :)

(3) Business (Real Estate Specialization)- This is probably the most obvious one. It can likely provide you with opportunities to meet professors who have actually have experience investing and other students who may end up as investors as well (networking). Some other benefits are that it can give you an understanding on basic accounting principles, knowledge on how to operate a business, insight on how to protect yourself from legal liability (business law) and others depending on the structure of the program your school has set.

Lots of options and lots of possibilities to apply almost anything you learn in school to the business.  

Very useful! Thank you for posting. By the way, how did you find the course that you used this textbook for? Do you believe you have a strong understanding of the content? 

Gabriel Ortiz I would agree with what Luis said about going at the pace that's right for you. I think that's very important because your level of risk tolerance will not be the same as the other guy's so going at your own pace will help you to sleep better at nights. However! The old adage comes to mind that "if you fail to plan, then you are planning to fail"! I believe that it is always key to get educated before jumping into anything. It does not necessarily have to be through classes at school, but by continuing to post and read the blogs on this site and speaking to people in your area about their experiences just to be prepared for what you're getting into. Especially for an investment like real estate that generally requires a relatively high initial capital investment, I think its best to have some level of theoretical knowledge to help you navigate around potential pitfalls somewhat more effectively. Best of luck!