Crazy Sh*t In Real Estate #171: Reed Goossens

Summary:

Are you interesting in real estate investing? Reed Goossens, a serial entrepreneur, real estate advisor, speaker, and author, gives us some straight talk about what to consider when investing in real estate. Listen in to learn the strategies he implemented to improve cash flow, protect investments, and build his American Dream.

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Time Stamped Show Notes:

00:50 – Introducing Reed, a serial entrepreneur, real estate investment advisor, author, and public speaker

01:05 – Controls $150 million-worth of multi-family commercial real estate; he left Australia to chase his American dream seven years ago
02:40 – The barrier to entry is lower in the U.S. than in Australia; he realized he needed to buy more low-income properties to make more of a profit

04:05 – His strategy

04:30 – If he was going to be on the lower end of the market, he needed a larger portfolio; his property manager was able to manage the portfolio, not just one property

05:22 – Cash flow vs. equity advancement

06:45 – You can improve cash flow by upgrading units to get more money and better tenants; always look for value-adds

07:45 – On how value-adds have changed

08:15 – They’ve changed across the country and are sustainable; it’s important to lean into amenities as square footage average lessens

09:00 – On deals, investors, and partners

09:30 – He works with partners and 3,200 different investors
09:55 – He finds investors through his podcast, connections, and referrals; they have a partnership or share in particular LLCs
11:30 – It’s important to ask better questions about investment real estate; it’s got many legal implications and complexities