Navigating Real Estate Challenges: David's Candid Journey | Episode 35
The David Greene Show
David Greene
5 • 653 Ratings
🗓️ 30 January 2025
⏱️ 46 minutes
🧾️ Download transcript
Summary
In this episode of Real Talk Real Estate, David Greene shares his tumultuous journey through the real estate market, detailing a series of challenges including a significant property fraud incident in Miami, the complexities of navigating a 1031 exchange, and the unexpected transition to short-term rental investments. He discusses the pitfalls of property management, the struggles with city regulations, and the financial turmoil that ensued, emphasizing the importance of resilience and strategic planning in real estate investing. In this conversation, David Greene shares his personal experiences and lessons learned from navigating challenges in real estate investments. He emphasizes the importance of resilience, the unpredictability of cash flow, and the need for a strong support network. Greene also discusses the limitations of AI in real estate and the realities of turnkey properties, highlighting the difference between cash flow and equity. Throughout the discussion, he reflects on maintaining a positive mindset during tough times and the value of learning from mistakes. Podcast-The David Greene Show Spotify, Apple Podcasts Book a session with David: [email protected] Ask a Question: DavidGreene24.com/ask Find me on the “minnect” app Real Estate University: SpartanLeague.com Join my Free Newsletter: Davidgreene24.com/textletter Finance Your Real Estate TheOneBrokerage.com Intake@TheOneBrokerage @theonebrokerage Free Textletter DavidGreene24.com/join STR Management [email protected] Investor Retreat DavidGreene24.com/retreat Subscribe to The David Greene Show! Apple: https://podcasts.apple.com/us/podcast/the-david-greene-show/id1755485708 Spotify: https://open.spotify.com/show/5Nu6kCJTVzM2x2WsujqBOZ Submit your question for David: https://davidgreene24.com/ask Chapters 00:00 Introduction to Real Estate Challenges 02:48 The Miami Property Fraud Incident 05:40 Navigating the 1031 Exchange 08:36 Investing in the Smoky Mountains 11:53 The Property Management Nightmare 14:46 The Struggles with Short-Term Rentals 18:28 City Regulations and Compliance Issues 22:44 Surviving Financial Turmoil 23:10 Navigating Life's Challenges 24:31 Lessons Learned from Real Estate Investments 27:25 The Role of AI in Real Estate 29:47 Building a Trusted Network for Out-of-State Investing 33:18 The Reality of Turnkey Properties 36:41 Understanding Cash Flow vs. Equity 39:32 Maintaining Mental Resilience in Tough Times
Transcript
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| 0:00.0 | Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches. |
| 0:07.0 | I'm David Green, and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between. |
| 0:13.0 | This is the show where we pull back the curtain and show it to you too. |
| 0:16.0 | So if you want to build wealth through real estate or you just love learning about it, you found your home. |
| 0:28.1 | All right, so we're going to open this thing up for questions. |
| 0:30.0 | Christian and Lindsay are going to come up here. |
| 0:31.2 | Did anyone else have any last minute ones? |
| 0:32.1 | Oh, we got one right here, Joe. |
| 0:34.5 | So it was a couple weeks ago, a couple months ago. |
| 0:38.0 | You mentioned a disaster that was going on in Miami was one of your properties. |
| 0:41.6 | And I just kind of wanted to get the update on what the current situation is that. |
| 0:44.0 | Maybe give a little bit of background for what it is. |
| 0:45.4 | Appreciate the balls on this one. |
| 0:54.1 | Several years ago, I had 40 or so properties in Jacksonville, Florida that someone figured out how to steal the title to. There was a |
| 0:55.0 | glitch in the website that manages illegal entities in Florida, which I don't want to say because |
| 1:02.0 | people are going to listen to this. I don't want more people to go figure out to do it because I don't |
| 1:04.9 | know if they've actually fixed that glitch. It wasn't through the assessor's office where title is |
| 1:09.2 | actually held. It was the LLCs that I was |
| 1:11.9 | owning the properties in. And this person figured out that you can't delete information that's in there, |
| 1:17.2 | but you can add information to other people's stuff. Anyone could do this at any time. So this |
| 1:22.4 | person added himself as a manager to my LLCs, found a notary that he paid off to say that they witnessed me |
| 1:30.6 | signing and transfer the title of 40 properties from my LLCs into his. It could have happened |
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