Strategic management is the difference maker in this industry.

Today is very different as it is all about the management (and not appreciation) compared to past where management could suck but you still had superior apprecation.This will not crash housing of course but all those "creative" deals where people are paying more than market value are going to realize they have no exit. 

Basically when you compare Cleveland to Riverside, California most every Cleveland deal will look amazing to you on paper.

So, you look at what other comparable properties are renting for to decide when to raise rent and by how much. 3.

This allows the GC to make sure they are comparing apples to apples.

It offers a great opportunity to learn the ins and outs of the industry while building a network. 

Keep in mind, I’m based in the Binghamton, NY area, which is more of a cash flow market with slower appreciation compared to other areas.

I grew up in the real estate industry watching my father raise money with a PPM for large multifamily value add projects and a developments.

Continue reading as much as possible and couple that with your ability to network and meet people in the industry. 

We are currently preparing my real estate strategy, of course using the Bigger Pockets Strategy book, as a previous business owner in another industry, there’s a lot of good and refreshing information here in this Strategy book.