JF3361: Best Ever Roundtable: Lessons Learned from our Best and Worst Deals Pt. 1

The Best Ever CRE Show

Best Ever CRE

Entrepreneurship, Investing, Business

4.7 • 996 Ratings

🗓️ 17 November 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Commercial real estate experts Slocomb Reed, Ash Patel, and Joe Cornwell share their best and worst experiences in real estate investing. They offer valuable insights, lessons, and strategies that every investor should consider. Key Takeaways: The Importance of Reserves: Slocomb Reed discusses the necessity of having sufficient reserves in real estate deals, especially when working with inherited tenant bases or C-class properties. He highlights the importance of staying disciplined and not compromising on the quality of contractors to avoid costly mistakes. Staying True to Your "Why": Joe Cornwell delves into the challenge of managing capital and the temptation to rush into new deals. He emphasizes the need to focus on your "why" in real estate investing, staying patient, and not letting idle cash dictate investment decisions. Lessons for All Investors: Ash Patel shares invaluable advice for real estate investors. He stresses the importance of comfortable idling large sums of cash, finding partners or selling deals if necessary, and understanding your "why" to maintain focus and purpose in your real estate journey. Sponsors BV Captial BAM Capital Rentec Direct Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or
1:15.5	consider any investment or course of action. For more information go to Best Ever Show.com.
1:21.8	If you're dealing with a small town,
1:23.9	kind of those secondary markets,
1:26.5	you really want to be careful.
1:28.7	And before you close on the deal,
1:30.6	make sure you understand who is really in charge for permits, talk to the right people,
1:36.1	hopefully build those relationships before you close because if you try to do it during the process like I did,
1:42.0	it can go sideways quickly.
1:43.4	Welcome to the best ever show, the world's longest running daily commercial real
1:47.8	estate podcast. Our hosts interview commercial real estate experts every day to get you the best
	...

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