Are you interesting in real estate investing? Reed Goossens, a serial entrepreneur, real estate advisor, speaker, and author, gives us some straight talk about what to consider when investing in real estate. Listen in to learn the strategies he implemented to improve cash flow, protect investments, and build his American Dream.
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Time Stamped Show Notes:
- 00:50 – Introducing Reed, a serial entrepreneur, real estate investment advisor, author, and public speaker
- 01:05 – Controls $150 million-worth of multi-family commercial real estate; he left Australia to chase his American dream seven years ago
- 02:40 – The barrier to entry is lower in the U.S. than in Australia; he realized he needed to buy more low-income properties to make more of a profit
- 04:05 – His strategy
- 04:30 – If he was going to be on the lower end of the market, he needed a larger portfolio; his property manager was able to manage the portfolio, not just one property
- 05:22 – Cash flow vs. equity advancement
- 06:45 – You can improve cash flow by upgrading units to get more money and better tenants; always look for value-adds
- 07:45 – On how value-adds have changed
- 08:15 – They’ve changed across the country and are sustainable; it’s important to lean into amenities as square footage average lessens
- 09:00 – On deals, investors, and partners
- 09:30 – He works with partners and 3,200 different investors
- 09:55 – He finds investors through his podcast, connections, and referrals; they have a partnership or share in particular LLCs
- 11:30 – It’s important to ask better questions about investment real estate; it’s got many legal implications and complexities
- 12:45 – How to contact Reed: You can find his podcast, books, and contact information on his website
3 Key Points
- Know your attorney and tax advisor when getting into real estate investing.
- Consider cash flow and equity advancement.
- Working with the right team will make you successful.