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26 September 2022 | 0 replies
This is my first post in 3 years.The market is in a very different place in that time.There has been a pandemic,and interest rates have doubled.Social media posts from baby syndicators and operators have slowed,if not outright disappeared.No prizes for guessing why.If you are a newbie reading this,you should never forget this cardinal lesson:Real wealth in real estate is created with equity,not cash flow.And certainly not with transactions.That's why the maxim says "we make money when we buy,not when we sell".It's because you run into all sorts of factors that may be outside your control WHEN you sell,IF you have to sell.Equity builds over time.Slowly.Patience is a virtue.It's why long term buy and hold will remain the king of the real estate game.Not Flipping,not syndication,and certainly not vacation rentals.You must diligently prioritize buying and OWNING your own piece of dirt financed with LONG TERM debt,preferably conventional loan that is deliberately underleveraged in a niche unlikely to be legislated out of existence by sensible new city or county ordinances predictably aiming to protect the local economy.That's how you keep your assets in ANY cycle without having to close bad deals in order to make another buck for another day.Even if you like the passive side of investing in syndications,you must be smart enough to understand you never actually OWN those units.So when someone tells you they own 2000 or 3500 units,call BS.When prices and rents are surging with historic low interest rates,even a 12th grader can become a hotshot syndicator overnight with the right amounts of flashy social media posts with rented red Lambos,Richard Mille watches and private jets strategically inserted.When rates rise,as they have,and projections and proformas head for the toilet,we see many who have been swimming naked.The skinny bad deals closed in a blaze of hysteria and chutzpah circa 2017/2018 with 3% interest rates are coming up for refinancing or sale today.It's 2022.Many of them have 5 year balloons.That's the place the crash everyone has been debating to death is going to start.Exit strategy in real estate is more complicated than can be taught in a 3-day bootcamp.No matter how much you paid for the course.Keep it simple.Real estate is really very simple.
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28 September 2022 | 2 replies
Complete contact information for all occupantsSome Property Managers will not share data that may expose them to liability (e.g. social security number) so you may have to find that on your own.I recommend your demand letter include a deadline and a consequence for failing to perform.
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1 October 2022 | 9 replies
Real Estate is a social business and the more people you collide with (preferably in person) the better.
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4 October 2022 | 5 replies
Hi All, I posted this on the facebook groups, but I wanted to get some advice from some of you that don't frequent social media that much.
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27 October 2022 | 6 replies
Look them up on social media and see who's in a relationship with "Jai" or has "Jai" tagged in their social media photos.
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6 October 2022 | 7 replies
Hey @Micki Parks I'll send you can check out the Turnkey Bothers on all social media, YouTube and anywhere you listen to podcasts.
14 October 2022 | 15 replies
You can find Agents on all social media platforms.
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3 October 2022 | 11 replies
Also, let's get out of this business of making predictions about the economy or any social matter.
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2 October 2022 | 12 replies
I don't know how we go from 20 years ago to be careful of what you hear on the "internet" to now anything "online/social media" is absolutely true
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5 October 2022 | 3 replies
This law prohibits a financial institution from disclosing a consumer’s nonpublic personal information like your Social Security number, income, and outstanding debt to companies that are not related to the financial institution.https://www.ftc.gov/business-g...https://www.ftc.gov/business-g...Also, most credit agency contracts do not allow their clients to share info with 3rd parties.