All Forum Posts by: Zachary Inman

@Steven Foster Wilson Yes, I agree. No harm in the high-risk, speculative part of your portfolio. But it's a problem when people go all in on things like this. This isn't the first get-rich-quick scheme, and it won't be the last. 

Large crypto lender Celsius filed for bankruptcy. This is huge news and a major blow to crypto. All investors, real estate or otherwise, of any experience level have something to learn from this.

A massive crypto investment firm goes under, and countless people are left with nothing. Those who invested on this platform are having a sobering realization: it's backed by nothing.

The institution, the assets, and their investments, which many put their livelihood into, only have a foundation of speculation and hype.

This is the first of many. Crypto, in its current state, is not the future. There is money to be made, but the same could be said for Dutch Tulips in the 16th century.

Investing in tangible, cash-flowing assets with actual value is more important now than ever. 

What are your thoughts, BP community?

I have different agents for different things. Each have a unique skillset. For example, I use a different agent for multi properties than I do for single-fam. 

Go passive with 1-2 reputable syndicators. 

Don't drop dollars chasing dimes. 

Invest wisely, generate cash flow, let your CPA sort out taxes. Naturally, humans experience more pain losing something than the pleasure they gain by gaining it - this applies to real estate because I'll often see investors seeking out more and more complex ways to avoid taxes than they do in finding deals with better upside, which would net them more in the long run. 

In my humble opinion, it's not worth the investment. In 2022, there is enough free content to educate oneself that having a single guru tell you how to be rich doesn't make sense. Now, I can understand if someone wants a community or encouragement with like-minded individuals. Still, I can tell you that in my experience, the smokescreen of having a "secret" that people have to pay to get is always a variation of the same thing: consistent work, intentional strategy for your goals, and embracing failure.

I recommend investing in books instead. Atomic Habits is my personal favorite, but there are numerous books that will give you every tool you need to succeed in not just real estate investing but enrich every element of your life. 

Depends on your investing goals. I think condos have different risk factors than trad investment properties, but I've known plenty of people who have had good condo deals. I would rather buy a solid condo than a bad multi deal. 

As for timing, I think we're all feeling this right now. Many investors are sidelined right now and have the inflation moths eating away at the cash in their war chest because it's so difficult to make deals work. Personally, I'm investing passively in inflation-hedged syndication deals and stocks to keep money working (and leveraging other people's time) while I work on increasing income. 
 

A lot of the best people I've found have been through word of mouth. I ask my investor friends to make introductions and ask GC's for specialists they trust.

Treat it like finding a good mechanic. Hard to come by, but once you find a good one then you're set. 

Hard money if you're feeling confident in the deal. You could also syndicate capital from family and friends.

Also, you can beat all cash offers with more attractive terms - better closing dates, more security, better purchase price, etc. 

If it's an option, then definitely take advantage of it.