Mon, 3 December 2018
CW 1092 - Slowing Home Sales, Changing Your Investment Style to Fit the Times & My Life and 1,000 Houses with Mitch Stephen
Jason Hartman opens the show discussing the need for real estate investors to be flexible with their investment strategies. As conditions change, so too must your approach. What worked 2 years ago might not work today, so invest differently today.
Then Jason talks with Mitch Stephen, author of My Life and 1,000 Houses, on Mitch's start in real estate, the importance of not having 100% occupancy, how to determine if your market is overbuilt, doing due diligence, and more.
[3:02] As real estate investors we have to be flexible and adapt to our changing environment
[8:23] We need to keep our mind clean, our mindset clean, so avoid contaminating people
[10:59] Slowing sales doesn't necessarily mean a downturn in the market, it could simply be a lack of inventory
Mitch Stephen Interview:
[16:27] Is self-storage overbuilt? How Mitch tries to minimize his competition
[21:54] Self-storage facilities can go up really quick, is it better to buy an existing or build a new one?
[26:35] Jason's revelation about commercial vs self-storage real estate back in 2010
[30:09] Why you never want to be full in any sector of real estate investing & what you should do if facilities in the area are full
[33:38] Some of the due diligence Mitch does when looking for a facility to buy