70: Real Estate Due Diligence Deep Dive with Frank Gallinelli

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 12 February 2016

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#70: Our guest teaches real estate investment analysis to graduate students at Columbia University.

He wrote the popular book “What Every Real Estate Investor Needs To Know About Cash Flow.” His new video-based course is found at: learn.realdata.com.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.

Listen to this week’s show and learn:

01:46 Novice investors have awful reasons for why they own rental property.

03:48 Assume that a seller pro forma is a lie.

04:17 Frank Gallinelli interview.

05:28 In RE investing, pretty buildings hardly matter.

10:52 How you evaluate a RE investment’s worthiness.

13:20 Your property is only fourth in importance to you.

14:12 Your income stream.

17:20 Emotions have no place in income property investing.

18:09 Lease structures influence on property values.

20:18 Common mistakes made by novice investors.

24:22 Snow removal, bookkeeping, HVAC maintenance.

28:28 Time value of money.

30:52 How much to offer for an income property.

33:25 Due diligence outside the raw numbers.

36:05 Projecting future property value.

39:45 Why are cap rates different across the U.S.?

43:05 Software to help investors make projections.

Resources:

RealData.com - Real Estate Investment Software by Frank Gallinelli

Learn.RealData.com - Video-based course by Frank Gallinelli

What Every RE Investor Needs To Know About Cash Flow - Frank’s popular book

InternationalCoffeeFarms.com - Cash-Flowing Panama Coffee Farm parcels where you own the land.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

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Transcript

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0:00.0	Get Rich Education is brought to you by Norrata Real Estate and International Coffee Farms.
0:10.7	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires
0:22.7	than anything else and can provide you with more wealth and happiness than you ever thought
0:28.2	possible. Now, here's your host, investor, entrepreneur, business owner and educator, Keith
0:36.2	Weinhold.
0:45.6	Welcome to Get Rich Education. This is episode 70. I'm your host, Keith Weinhold. Today we're chatting with the Yale University educated Frank Gallinelli. He teaches real estate investing
0:51.4	analysis to graduate students at Columbia University in New York City,
0:55.7	and today he's going to be your professor too in this class with free tuition, if you will.
1:03.3	Frank is also a popular real estate investing author.
1:07.0	Here's hoping that you've lived an abundant week.
1:09.4	I'm taking it easy this week as I'm recovering from knee surgery.
1:13.5	Now, I knew something didn't feel quite right in my knee for months,
1:18.5	even though I've been running, biking, and exercising on it all this while,
1:24.0	even surfing on it and even climbing Panama's highest peak on this knee. But, you know,
1:28.4	I soon found that rest alone was not making the pain go away, so my doctor repaired my torn meniscus.
1:34.5	So I'm in kind of a slack-jawed state now, but I should soon be back and better than ever.
1:39.3	It looks like stationary biking in seven to ten days and running in six to eight weeks. Now, you know, when I talk to
1:48.2	novice, real estate investors, I often hear some really awful reasons for why they own a certain
1:55.0	income property, for why they have that in their portfolio right now. Okay, now you can go ahead and
2:00.5	put whatever you want into
2:02.2	your portfolio. Okay, just understand how you're financially limiting yourself and be aware of the
2:09.0	opportunity cost of not purchasing something with a profitable income stream, right?
	...

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