I seek out rental properties with problems - the types of problems that send most people running away. Why?
Better deals.
Here are 5 problems I look for when shopping for rental properties:
What people THINK will make them rich:
- skipping a latte
- 401(k)
- 9-5 jobs
- luck
What ACTUALLY makes you rich:
- owning real estate long term
- building a business and running it well
- making asymmetric bets
- time
4 Simple rules:
1. Sleep.
Proper rest allows your body to reset. Sleep well and wake up early.
2. Self education is key.
Read an hour a day minimum.
3. Stay healthy.
Eat clean and workout.
4. Work ethic.
Never compare yourself to anyone.
Work harder than you did yesterday.
@ClemZiroli On the portfolio side
1. When a property is 100% occupied.
2. When CAM is below area CAM rates.
On the brokerage side
1. When you have a listing and the buyer wants you to "get both sides" of the transaction
2. No POF