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36:45

Multifamily Insights

by John Casmon

Each week, John Casmon speaks with real estate pros and marketing specialists to provide useful tips for multifamily investing. Listen and learn insights for market research, finding deals, attracting capital, and growing your portfolio.

Copyright: 2021 John Casmon

Episodes

Ep. 30: How to Bounce Back from Failure with Damion Lupo

53m · Published 23 Jan 10:30

Damion Lupo turned a rental house purchased on a VISA card into 150 houses in 7 states in less than 5 years. Then he watched a $20,000,000 portfolio implode. After that “failure,” he bounced back and rebuilt his wealth in 24 months. That failure was the foundation to his freedom. He is the host of the Transformation Nation podcast, owner of 37 companies over 25 years and founder of his own martial art called Yokido™. Today, he shares his approach to recover from a negative situation and how to create success.
 

Key Market Insights

  • Started buying real estate with a VISA credit card
  • Built a $20MM portfolio and rolled it off the cliff in 2008
  • People tend to avoid mistakes rather than looking for ways to win
  • Bought all over Phoenix – 2 and 3 bedroom houses
  • Purchased the same type of properties over and over in Phoenix, Birmingham and other markets
  • In 2004, realized home prices began jumping 10% a month and started to sell
  • In 2006, had 7 different projects, within one year all 7 projects fell and lost around $1MM per project
  • Made the mistake of equating his net worth to his self-worth
  • One way to get out of a rut is to share your story
  • When screening mentors: What have you done and what have you screwed up? – You want to know someone has been through the streets in blood
  • When investing: Damion looks at assets in his area and gets really narrow in focus
  • Created investing rules of engagement to protect himself from himself
  • Looks at rules twice a year and evaluates the rules to see if anything needs to be changed
  • Cryptocurrency (Bitcoin) is pushing the decentralization of banking
  • Places 5-10% of net worth in speculative investments
  • Willing to invest in deals that will probably fail if he believes in investing in the person and the relationship
  • Start by looking at your own expenses, look for trends, are assets coming in as expected, are they growing or shrinking
  • Working on launching the digital mentoring around financing and investing
     

Bull’s Eye Tips:

Winning Your Market: Meet with as many people as possible

Tracking Market Changes: Numbers tell a story, identify and track key numbers

Daily Habit: Blank Slate - Meditation
 

Resources:

Rich Dad Poor Dad by Robert Kiyosaki
 

Maverick Mistakes in Real Estate Investing by Damion Lupo

Ep. 8 with Joe Fairless


Yokido


The One Thing by Gary Keller and Jay Papasan


Best Business Books:

The Internet of Money by Andreas Antonopoulos 

Digital Resources

Calendly
 

Tweet This:

"Confidence comes from within…. or you borrow it"

"A mistake is only a sin when it’s not admitted"

"Invest in the person, not the thing"

"Net worth is worth less – time is more important and is driven by cash flow"

Places to Grab a Bite:
Elote Cafe in Sedona 
 

Connect with Damion:
DamionLupo.com

 

Leave us a review and rating. Be sure to check out more info at TargetMarketInsights.com.

  

Ep. 29: Leveraging the Rocket Fuel of Self-Direct IRAs with Carl Fischer

39m · Published 16 Jan 11:30

It doesn’t take a rocket scientist to figure out self-directed IRAs, but it may have before the age of the Internet. Fortunately, Carl Fischer, a third generation real estate investor, graduated from Cornell and went directly into rocket science. However, when his father passed, he dealt with the estate and stumbled across an investor using a self-directed IRA. That experience led him to learn more about SDIRAs and he was amazed at how little info was available at the time. He went on to fund CamaPlan to help others leverage the power of SDIRA investing. Learn more about how SDIRAs can serve as rocket fuel to blast up your retirement account.

 

Key Market Insights

  • 3rd generation real estate investor, Cornell grad, rocket scientist at Kennedy Space Center for 18 years
  • Carl’s dad died land rich, cash poor, so Carl helped settle the estate
  • Found someone who loaned money through an IRA
  • Called IRS, bank to find out more, but nobody knew about it
  • SDIRA can exponentially increase your options of investments
  • Brokerage firms (Merrill Lynch, Vanguard, Fidelity, etc.) have self-direct IRAs, but only allow you to self-direct in what they sell
  • Qualified investments range from stocks, bonds, real estate, notes, private placements, precious metals, tickets, automobiles and even llamas
  • Life insurance and collectibles (coin collections, jewelry) are prohibited
  • IRS tells you what you can invest in, not what you can’t invest in
  • Can not sell property to yourself or your IRA, must be strictly for investment purposes
  • Other disqualified persons to your SDIRA: parents, children, grandparents and grandchildren; however siblings, uncles, aunts, nephews and nieces are permitted
  • You are not allowed to do your own rehab with an IRA owned property
  • Who should use a SDIRA? People that want control of their investment
  • If you have a 401k, IRA you can roll this into a SDIRA
  • The process: Select a custodian, open an account, fill out transfer papers to fund the account, select the investment, fill out investment contract (in account’s name) and send to custodian, proceed with due diligence
  • Loopholes to pull out funds before 59 ½ through a 72T Distribution
  • Starting to discuss cryptocurrency for SDIRA accounts as people are putting Bitcoin into SDIRA, but there may be regulatory issues

 

Bull’s Eye Tips:

Winning Your Market: When investing out of market, rent a place in the area for a couple months and get to know the area, use Facebook to sell properties

Daily Habit: Write list every morning, review the list from the day before

 
Resources:


Best Business Books:
Keep It by Joe Luby

Think and Grow Rich by Napoleon Hill

 

Digital Resources
Trulia

DealMachine 

 

Tweet This:

  • “Self-direct and supersize your IRA”
  • "The IRS doesn’t tell you what you can invest in, they tell you what you can’t"
  • "As Warren Buffet once said, “it’s great to diversify, but don’t diversify into things you don’t know”
     

Places to Grab a Bite:
Geno’s Philly Cheesesteak


Connect with Carl:
Website: Camaplan.com
Phone: 215-283-2868
Email: [email protected]

 

Please leave us a review and rating. Be sure to check out more info at TargetMarketInsights.com.

Ep. 28: Making Massive Money in Mobile Home Parks with Kevin Bupp

43m · Published 09 Jan 11:30

Would you like residents who stay for 10+ years, handle their own repairs and find new renters when they do leave? Consider investing in mobile home parks. Kevin Bupp has spent the last 5 years investing in mobile home park communities and explains that this misunderstood niche is more about affordability than quality. Kevin is the host of two top real estate podcasts, Real Estate Investing for Cash Flow and Mobile Home Park Academy. Today, he talks about housing affordability and massive returns in the only real estate class that is seeing a diminishing supply.

 

Key Market Insights

  • Started investing at the age of 19 after being invited to a real estate bootcamp
  • Asked his mentor if he could help him to learn more about what he did and became his assistant and protégé
  • Owned close to 500 apartments, along with offices, strip malls and land before focusing on mobile home parks for the last 5 years
  • Mobile home parks are small communities where individual mobile home lots reside
  • Owning the communities means owning the lots, roads, plumbing**, rent the space to owners
  • Mobile park homes are more about affordability than quality
  • When seeking markets for mobile homes, look at housing affordability
  • Mobile home parks range from high-end lifestyle communities in to low-end trailer parks
  • What to Look for in Mobile Home Markets: median home price needs to be $100k, median 3-bed apartment rents of $800, median income of $40k or above, economic stability, diverse employers, and at least 100k population
  • Only real estate class that has a diminishing supply
  • Local municipalities have no interest in building mobile home communities
  • Only 50,000 mobile home parks in the country, want 60 lots or larger
  • Evictions force them to move the home, or many people abandon or try to sell the home back to the owner
  • Average tenant stay is 10+ years, typically sell if they want to move
  • Responsibility is all on resident to find a new renter and pay lot rent
  • Less upkeep than apartments, less overhead costs
  • 3rd party management is not the norm, so you have to build a PM
  • Plans for 2018: Ramp up marketing efforts and double the portfolio

 

Bull’s Eye Tips:

Winning Your Market: Put the time in and master the market, spend 50-60 hours researching the market

Tracking Market Changes: Become apart of key associations

Daily Habit: Exercise, healthy eating habits

 

Resources:

Mobile Home Park Academy Podcast

Real Estate Investing for Cash Flow Podcast 


Best Business Books:

Mastering the Rockefeller Habits by Verne Harnish

The Making of a Blockbuster by Gail DeGeorge 

 

Digital Resources
GoPro Camera - Provides GoPro cameras to onsite management to drive through the community weekly

Tweet This:

"Look for markets where there is a lack of affordable housing"

"Some mobile home parks are nicer than B class apartments"

"Only real estate class that has a diminishing supply"

 

Places to Grab a Bite:
Tampa Bay Brewing Company 

 

Connect with Kevin:
KevinBupp.com

SunriseCapitalInvestors.com

 

Leave us a review and rating. Be sure to check out more info at TargetMarketInsights.com.

 

 

Ep. 27: From Flips to Small Multifamily Cashflow with Tyler Sheff

42m · Published 02 Jan 13:30

After a career as a police officer, Tyler Sheff began flipping houses with tremendous success. However, he did not anticipate the crushing tax bill, which forced him to rethink his strategy. Now Tyler invests in small multifamily properties for cash flow in both Tampa, Florida and Memphis, Tennessee. He is a licensed real estate agent, problem solver, educator, investor, syndicator and the founder of CashFlowGuys.com. On today’s show, he talks about his strategies, how he invests from afar in Memphis and why Tampa is so hot that buyers are getting into fistfights over properties.

Key Market Insights

  • A former police officer, Tyler got his real estate license in 2000 and began fixing and flipping
  • Noticed values in single family were going up 25% per year and started renting his flips to take advantage of the appreciation
  • Sold them all in 2005 for top dollar, but did not report the sales on all of his properties and was threatened with interest and tax bill from the IRS
  • Burned himself out flipping houses and got a job with the federal government
  • List of limiting beliefs held him back from buying multifamily properties
  • Purchased a 4-plex and then learned how to raise capital from being involved in mastermind groups
  • Focus markets are Memphis, TN and Tampa, FL
  • When working with buyers, he prefers to take an equity position on deals in lieu of a commission
  • Partnered with a brokerage that has been around since 1942
  • Memphis varies wildly from street to street, like to be around the north part of Memphis near the university
  • Need to be direct to the seller when purchasing property
  • Tampa you get some appreciation, Memphis is strictly cashflow
  • People are getting into fist fight over Tampa real estate
  • Minimal multifamily properties in Tampa, while Memphis has a plethora of multifamily
  • Small multifamily are often grossly overpriced or underpriced on the MLS
  • Launching a mastermind in 2018 and teaching a class on non-performing notes


Bull’s Eye Tips:

Winning Your Market: Memphis: Find good management first, Tampa: focus on MLS for small multifamily

Tracking Market Changes: Networking at REIA, Connect with team, Subscribe to digital newspapers
 

Daily Habit: Read 60 minutes of self improvement

 

Resources:


Best Business Books:
Creature for Jekyll Island by G Edward Griffin

 

Digital Resources
Evernote 

Tweet This:

  • I’d rather take $100 monthly than $1000 one time
  • People are getting into fist fights over properties in Tampa. Everyday is Black Friday
  • Flipping houses doesn't build wealth, it pays the IRS
  • A (projected) return is fine, if everything works out

Places to Grab a Bite:
Tampa: Rusty Bellies Tarpon Springs

Memphis: The Pig on Beale 

 

Connect with Tyler:
Cashflowguys.com

 
Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com. 

Ep. 26: Corporate Housing and Furnished Rentals with Tim Touchette

36m · Published 26 Dec 12:30

Before the days of AirBnB, Tim Touchette recognized a demand for short term housing as an alternative to hotels in the Washington D.C. market. After buying a furnished rental, he experimented with finding his audience until he found his niche with corporate housing. Tim is the founder of Attache Property Management and Attache Corporate Housing, managing 280 furnished rentals in the Downtown DC area. He shares his best tips on investing in corporate housing, where this strategy works best and some of the key differences between AirBnB.

 

Key Market Insights

  • Purchased a furnished rental based on a realtor suggestion
  • Found renters through classified ads in the newspaper, talking to friends, and Yahoo Groups
  • Renters were not typical renters, usually owned real estate as well, and were expensing their rent
  • Founded Attache Property Management and Attache Corporate Housing, currently managing 280 furnished rentals
  • Best Areas in DC for Furnished Rentals: Downtown DC and 1-2 areas removed from downtown, Dupont Circle, Capital Hill, Georgetown, Logan Circle, Penn Quarter, Foggy Bottom
  • 90-95% corporate renters, handful of empty nesters or people renovating their home
  • Avg length of stay for Attache is typically 3-4 months
  • 30 days minimum, usually associated with the federal government in some capacity, also see many visiting professors, lawyers
  • HR departments of many organizations are familiar and will refer Attache
  • Need to have amenities: washer/dryer in each unit and/or on demand laundry service, high-speed internet, cable/TV and clean linens
  • Biggest difference from AirBnB is length of stay & 24 hour customer service
  • Consistency in guest experience is key for property management success
  • On Government Regulation: believes short term rental stakeholders need to come together to manage and mitigate concerns
  • Working on the conversion of a single family into an 8-unit property, all furnished units

 

Bull’s Eye Tips:

Winning Your Market: Start small

Tracking Market Changes: Read articles and listen to podcasts

Daily Habit: Journal writing weekly & working out

 

Resources:

Washington Post Article on AirBnB Regulations - 

Target Market Insights, Ep. 6 with Jasper Ribbers


Best Business Books:

Antifragile by Nassim Taleb

 

Digital Resources

Asana



Tweet This
:

"Focus on gratitude and invest in real estate for the long haul" 

 

Places to Grab a Bite:

& Pizza

Compass Rose

Rebellion

 

Connect with Tim:

Website: Stayattache.com

LinkedIn: https://www.linkedin.com/in/timtouchette

Email: [email protected]

 

Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.

 

 

Ep. 25: Why Apartments Beat Stocks From A Former Broker with John Cohen

39m · Published 19 Dec 10:30

After a 9-month interview process, John Cohen earned a job as stock broker with Morgan Stanley at the tender age of 22. However, the day he started he saw grown men crying over the Facebook IPO and ended up quitting that same day. From there John put his energy into real estate, first as a commercial broker and then as an investor and multifamily syndicator. John gives some great tips on investing in multiple markets and growing a real estate business on this episode of Target Market Insights.

Key Market Insights

  • Started career as a stockbroker, but hated the lack of control over company execs and their decisions
  • Facebook IPO was defining moment, saw grown men having meltdowns, quit the same day he started at Morgan Stanley
  • Started in real estate with tax deed properties, purchased a SFR and rented to a rugby team in East Stroudsburg, PA
  • Became a commercial broker, built a network of clients in Bedstuy, Brooklyn, and Queens, NY
  • Began networking with clients, family friend introduced him to his mentor
  • Mentor had great contacts in Cincinnati, started looking in nearby areas and landed on Columbus
  • Drove 20 hours to be in market for only 6 hours to view an apartment
  • Huge believer in direct mail, consistency is more important
  • Likes the growth in the Southeast region from the Carolinas, down to Florida, and over to Alabama
  • Suggest being an expert in a market, uses a color coded map for submarkets
  • Brokers, property managers, put the market in a quadrant
  • Biggest challenge is becoming an expert in various markets
  • If I win a deal on my first bid, I overpaid, but we bid based on fundamentals in the market
  • Not a business you can do by yourself, the more people in your database, the better equipped you are if the deal goes sideways
  • Just finished due diligence on 453 units in Jackson, MS with $4MM in deferred maintenance

Bull’s Eye Tips:

Winning Your Market: Get out and get active, no one will knock on your door with a deal

Tracking Market Changes: Operations team does market surveys weekly, PM give monthly reports, quarterly reports


Daily Habit
: Write down goals every morning and night

 

Resources:


Best Business Books:

Principles by Ray Dalio

 

Digital Resources

Listsource

Property Shark

Trulia Crime Maps

Audible

Credit Karma

Lifelock

 

Tweet This:

"Where are people moving? Target that then look at supply and demand"

"You have to educate your database, use your resume and background, & put a good team behind you"

"Call police precincts, find out where crime is"

  

Places to Grab a Bite:

Center Cuts Butcher Shop 

Boulevard 25 opens in February

 

Connect with John:

Email: [email protected]

 

Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.

Ep. 24: Making Real Estate Sandwiches with Whitney Nicely

45m · Published 12 Dec 13:08

As a fourth generation entrepreneur, Whitney Nicely was expected to work in the family business, but her vision differed drastically from her grandfather’s outdated views on gender roles. She decided to branch out on her own as a real estate investor and found her niche was in sandwich lease options, not making sandwiches. Since then she has helped train hundreds of future real estate rock stars to grow their portfolios and achieve financial freedom. On today’s episode, she breaks down the Knoxville, TN market, explains why every woman entrepreneur should look to real estate and how sandwich lease options are extremely profitable, quick and require little money up front.

 

Key Market Insights

  • 4th generation entrepreneur, family had dump truck since 1939
  • Started flipping furniture, dump trucks and then houses
  • Grandfather did not allow her mom to do business things, but she did not take that approach
  • Started doing real estate and did 14 deals in 9 months, $135k
  • Launched “First Deal Done Fast” Program, which includes scripts, rebuttals, coaching and more
  • Whitney’s farm area is East Knoxville
  • West Knoxville is a higher end location, Fountain City is where gentrification
  • Completed 10 sandwich lease options in her first year, 20 the following year
  • Makes money 3 ways through sandwich lease options: down payment from renter, rental income, equity in the sale
  • $10 bucks invested on first deal, received $13k in profit
  • Knoxville is scruffy, overlooked and more cost efficient, compared to Nashville, Memphis, and Chattanooga
  • Knox County has great opportunity
  • Oak Ridge is in Anderson County, companies are buying the land in Anderson County where atomic bombs were built
  • Wears a button that says, “I Buy Houses”
  • Working on First Deal Done Fast Plus, mastermind group

 

Bull’s Eye Tips:

Winning Your Market: Talk to Everyone

Tracking Market Changes: Market doesn’t shift much, talking to sellers

Daily Habit: Daily affirmation and mantra: “I make $100,000 every month, easily and consistently with the systems I have set up.”

 

Resources:


Best Business Books:

Miracle in the Mountains by Harnett T. Kane 

Digital Resources

Facebook

 

Tweet This:

“Real estate is not a fad”


“Think about where you want to be in 5 years, what will get you there in 5 years and crank it up!”

“Tell everyone that you buy houses”

 

“People like people, not faceless companies”

 

Places to Grab a Bite:

Calhouns on the River

 

Connect with Whitney:

Website: Whitneynicely.com

Facebook Group: WhitneyNicely.com/group

Email: [email protected]

Connect with John:

Facebook: facebook.com/targetmarketinsights

Twitter: @jcasmon

Instagram: @jcasmon

 

Leave us a review and rating and be sure to check out more info at TargetMarketInsights.com.

 

 

Ep. 23: How to Invest in a Suburban Market with Ben Walhood

38m · Published 05 Dec 10:30

Ben Walhood is the President of the Chicago Area REIA, the largest non-profit real estate organization in Illinois. He is also an investor operating predominantly in the western suburbs of Chicago. He fixes-and-rents residential properties in working class neighborhoods. He has been interviewed by CNBC and the Chicago Tribune, and he has been a featured guest on the BiggerPockets, Freedom Real Estate Investing, and Best Ever Real Estate podcasts. Today he shares how he navigates the western suburbs and has found his niche along I-355.

Key Market Insights

  • House hacked his first place in college, 3 bed, 2 bath for $150k
  • Invested in Maywood as his first deal
  • Was a neurosurgeon sales specialists before becoming a full-time investor
  • From a small town in north Dakota, downtown Chicago was a foreign thing for Ben
  • Looks for working class neighborhoods (looking for hvac, ladders
  • Uses the 1% rule 33,000 a year, $1,000, 100,000
  • Target areas: Interstate 355 – straight west of Chicago, north and south 10 miles; Bloomingdale, Wheaton, Liles, Darion, Bolingbrook, Western Corridor
  • Avoids Cook County due to the tenant-friendly laws; first tenant did not pay rent for 9 months
  • Like diversification of markets in western suburbs
  • Elmhurst is popular right now for new construction, Bolingbrook has cooled off, but saw a strong resurgence after the recession
  • Chicago Area REIA (CAREIA) is one of the few non-profit REIAs and is volunteer run
  • Watch rents to see where demand is headed
  • Focus on return on equity, not just cash on cash
  • Finishing up a 6-unit in Bloomingdale, with the BRRR model

Bull’s Eye Tips:

Winning Your Market: Know your market – know sales, rents

Tracking Market Changes: Boots on the ground, attending meetings

Daily Habit: Write out goals daily on white board

Resources:


Best Business Books:

Tools for Titans by Tim Ferris

Digital Resources

Google Hangout

Monthly Email Updates

 
Tweet This:

"Focus with a product or geography helps you avoid the shiny object syndrome"

"If I have a property in a village that is blowing up, I can sell, if not I can hold for rentals"

Places to Grab a Bite:

Mariano’s – https://www.marianos.com/

 

Connect with Ben:

LinkedIn - https://www.linkedin.com/in/ben-walhood-a84b8bb/

Webpage - http://www.goapexrenovations.com/

Leave us a review and rating and be sure to check out more info at TargetMarketInsights.com.

 

 

Ep. 22: Hiring the Right Real Estate Agent with Aaron Hendon

42m · Published 28 Nov 10:30

How do you pick the right real estate agent? If you are like 70% of Americans, you probably just hire the first person you speak with. And you probably won’t ask about the agent’s performance and track record. Because of this, Aaron Hendon believe many home owners are being short changed during real estate transactions.

Aaron is a Seattle Realtor, real estate investor, author, educator and speaker. He is the managing partner of Christine & Company and his team consistently outperforms the local market, selling homes for over 5% more than local market averages. He has authored two books to help buyers and sellers hire the right real estate agent and gives his key insights to selecting the right agent on this episode of Target Market Insights.


Key Market Insights

  • Ran a bakery in New Mexico, then moved to Seattle in a sales job doing 100 calls a day before becoming a real estate agent
  • People think realtors job is to sell houses, but it’s actually to sell yourself
  • home in King County sales for 100.1% of listing price, Christine & Company sales are 107% of listing
  • His trick for achieving an almost 7% increase on the market: “Measuring It”
  • Seattle is seeing a 15-year low in available inventory with 4,000 people moving to the area each month
  • Amazon is largest employer in Seattle
  • Median price in Seattle has jumped from $535k to $735k
  • Zoning tax breaks drive apartment building not condos, with tens of thousands of apartments coming on the market
  • Affordability is an issue so residents are moving 30 minutes outside of the city to areas like Everett, Edmonds, Shoreline, Kent, and even Tacoma
  • People don’t ask realtors for their last 12 months of sales, because people are constrained on questions where they should know the answer
  • People think you’re supposed to know how to sell your home
  • 70% of home buyers hire the first agent they talk to
  • Tips to hire the best agent: Look for someone with a track record in sales at the pricepoint, not the neighborhood – do they have a buyer track record for buying homes under list price
  • Questions to find an investor friendly agent: How much of your business is from referrals? 

 

Bull’s Eye Tips:

Winning Your Market: Slow down, check your gut and rationally examine all aspects of the transaction

Market Changes: Read, Listen to podcasts, Setup Google Alerts

Daily Habit: Miracle Morning practice (Silence, Affirmation, Visualization, Exercise, Reading, Scribing)

Resources:

Pre-Launch: Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying or Selling Their Home by Aaron Hendon

Don't Get Fooled Again: An Insider's Guide to the 7 Questions You MUST Ask to Avoid Hiring the Wrong Real Estate Agent (Again) by Aaron Hendon


Best Business Books:

The Undoing Project by Michael Lewis 

Never Split the Difference by Chris Voss

Pre-Suassion by Robert Cialdini  

Miracle Morning by Hal Elrod

 

Digital Resources

Facebook

Podcasts

Audible 

OverDrive - free library of eBooks, audio books and videos


Tweet This
:

  • We measure sales to list and you get what you measure
  • People think realtors job is to sell houses, but its to sell yourself
  • 70% of home buyers hire the first agent they talk to


Places to Grab a Bite:
Paseo Caribbean Food in Seattle

Connect with Aaron:
Facebook: https://www.facebook.com/ahendon

Email: [email protected]


Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.

 

Ep. 21: Know Your Local Market Before You Jump Into Real Estate Investing, with Barbara Grassey

43m · Published 21 Nov 10:30

How well do you know your local market?

 

Barbara Grassey says that smart real estate investors take the time required to learn their local market well. Why? Because knowing the market in your local area enables you to recognize when you’re looking at a great deal and when it’s not so great.

 

This episode of Target Market Insights features John’s conversation with Barbara Grassey, a real estate investor and expert in the West Florida area markets around Sarasota and Fort Myers. Her family history, writing career focused on real estate topics, and her own experience as founder and member of the West Florida RIA group has given her unique insight into her area and the overall knowledge of what it takes to be successful at real estate investing.

 

Subscribe on Apple Podcasts, Stitcher, and Google Play

 

Key Market Insights

  • [1:15] Barbara Grassey’s specialty: real estate writing and how she got into the business
  • [8:00] How Barbara got into real estate investing and founded West Florida REA
  • [15:13] Learn about your local market rather than depend on generic advice
  • [20:01] How Barbara got into writing and helping others create books
  • [24:56] Tips for writing a training manual or book on a real estate topic
  • [29:34] One tip for winning in your local market: consistency
  • [32:11] Barbara’s daily habits to stay focused on her goals
  • [39:53] Barbara’s final word of advice: Learn your market first

 

How can you expect to be successful investing in real estate locally if you don’t know your local market?

 

It’s great to know the overall principles and processes that make for smart real estate investing. But they don’t apply across the board in every market simply because each market has its own unique traits. When John asked his guest, Barbara Grassey what she advises new real estate operators and investors she didn’t hesitate: Take the time to learn your local market.

 

Locally-based knowledge will serve you in ways that go beyond what a general knowledge about real estate investing is able to do. If you’ll take the time to listen to this episode you’ll learn how Barbara’s advice can be applied and the powerful difference it can make.

 

CLICKABLE TWEET:  You can’t expect to be #successful when you invest in a #RealEstate market you don’t know well. Get your feet on the ground to improve your chances of #REI #success @BarbBookBoss #RealEstateInvesting

 

Local real estate investors need ways to position themselves as experts in the market. Here is a great idea from a professional

 

Part of the amazing skill set Barbara Grassey brings to this conversation with John is years of experience ghostwriting training manuals and other resources for the real estate market. She still helps REI professionals create great resources to inform and educate students and investors alike.

 

One of her favorite tactics when it comes to the creation of tools that position her clients as experts in their markets is what she calls “Mini-books.” She came up with the idea because of the resistance she often feels from those who are considering a full-length book as an authority-builder. It is a long and hard process, so given the ease of digital publishing, why not make a shorter book that's more to the point and easier to produce? It’s proved to be a powerful tool that anyone can create. Learn more from Barbara’s extensive experience as an author, real estate investor, and RIA leader, on this episode of Target Market Insights.

CLICKABLE TWEET: If you don’t have access to the #MLS, hit your local #RealEstate meetings and ask questions. It’s the easiest way to educate yourself about your #LocalMarket @BarbBookBoss #RealEstateInvesting

Resources & People Mentioned

  • The Best Real Estate Investing Advice Ever Podcast
  • Pete Fortunato
  • BOOK: The E-Myth Revisited by Michael Gerber
  • BOOK: The 12 Week Year by Brian P. Moran
  • Meet Edgar for Social Media
  • Smarter Queue

Tweet This:

CLICKABLE TWEET: If you’re writing #RealEstate training or marketing materials, the first thing to do is to identify your target reader. That way you know what to write and how to write it. @BarbBookBoss #RealEstateInvesting

Best Places to Grab a Bite in Punta Gorda, FL

  • Leroy’s BBQ (downtown)
  • Laishley Crab House



Connect With Barbara Grassey

 

  • Barbara Grassey’s website
  • Barbara’s Facebook Page
  • Barbara on Twitter
  • Barbara’s LinkedIn Profile
  • Barbara’s YouTube Channel

 

Subscribe on Apple Podcasts, Stitcher, and Google Play

 

Connect with John

 

  • John(at)CasmonCapital.com
  • www.CasmonCapital.com
  • Target Market Insights on Facebook

John on Twitter

Multifamily Insights has 620 episodes in total of non- explicit content. Total playtime is 379:48:46. The language of the podcast is English. This podcast has been added on October 28th 2022. It might contain more episodes than the ones shown here. It was last updated on May 31st, 2024 20:12.

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