@aravind Aravind ji, what’s the purpose of launching bitcoin and then pull the rug? This will destroy trillions of dollars invested by people in this. Even if the purpose is sinister, there will be motive of the inventor or some say was launched by DS.
@MohammedAlo I take strain as have genetic reason for high cholesterol. Still my LDL is high although I exercise and eat healthy. Any suggestions on how to lower LDL? Thanks
@realEstateTrent I read that coke cools down various ingredients before mixing and their straw is wider. This makes coke taste better at McDonald’s. I don’t think k they have special formula
@ShivAroor What’s up with cryptic reporting nonsense. I like this account but find it irritating with such posts. Report if you are going to report news
A few real estate skills that print money:
*Finding phone numbers others can’t
If you're having a hard time getting a hold of them, your competition is too.
Take that extra time to dive into the search engines, to research that LLC, and even use social media to find common friends.
Doesn't work?
FedEx a letter.
*Never sell a tenant on a space
Experienced tenants knows far better than you if a property works for them.
Make them aware of it, communicate well, and remove as many deal barriers as you can.
If you have to sell a tenant on a space, they're not the right tenant.
*Don't do deals you have to talk yourself into
You've been doing this long enough to know quickly if a deal makes sense or not.
If you're going over it in your head day after day or you keep going back and forth -- it's a no.
*Always remember debt isn’t free money
Silly to say, but there was a 10+ year run where a generation was taught that "the more debt the better"
If you put down 30% and the market goes down 30%, you are wiped out.
And yes, that cash-out refi gets paid back one day.
*Verifying comps
Just because the listing site said it sold for $400/foot does not mean it did.
Talk to the broker, look up the tax records -- a $4M sale can easily be using an incorrect 40k square feet instead of the actual 30k square feet.
Don't buy on unverified comps.
*If they're rushing you, something fishy's going on.
Sometimes you need to act really fast, but most of the time you don't.
If the other side is giving you an aggressive deadline, you're probably just competing with yourself.
Negotiate accordingly.
*Avoid bidding wars
If you really want to buy that dream house, and you can afford it -- bid away.
But this is commercial real estate, where the big winner of the big bidding war is usually the big loser of the big bidding war.
*Guard your reputation with everything
Commercial real estate is a much smaller world than many think, and everyone talks.
The way you treated that broker will reach more people faster than you can imagine.
*Be careful with financial modeling
That spreadsheet will tell you whatever you want it to.
Spend time at the property, feel out which spaces will be tougher to lease, and apply a buffer to those comps.
Models are garbage in garbage out - use them accordingly.
*Buy materials direct when it makes sense
Be sure you understand how much that contractor is marking up that drywall, that paint, or those plumbing fixtures.
If it makes more sense to buy direct, but they won't let you, go with someone who will.
*Focus more on the downside
Your imagination will always tell you the story of all the things that can go amazing.
If that happens, great.
When you're buying, spend much more time focusing on what can go wrong.
If those things happen and you're not wiped out, it's a good sign.
*Learn to reject deals without annoying the brokers
The vast majority of the deals you look at are not going to be a fit.
The brokers know that, but you need to be sure they don't get frustrated with you.
Get back to them fast, cut to the chase, and explain why it's not a fit.
*Closing even when you find surprises
Unexpected things will come up in every deal you buy.
If you're buying a 30-year-old building and the roof's, that's on you.
Unless there's some crazy issue that makes the deal impossible, you're not going to see deals if you're known for asking for haircuts.
*Overpay the brokers
Yes, they hold all the cards.
I was a broker, and the clients that paid and treated me well made a whole lot of money.
The ones who wanted a $10k credit from me at closing?
Well, they never saw a deal again, and that $10k cost them millions.
*Take the listings sites seriously
Some of our best deals were purchased from the same sites everyone reading this can access.
Take advantage of the fact many buyers dismiss those sites -- that's an expensive mistake.
We bought multiple deals that way, even in the past coupe years.