Archives for January 2017

CREPN #77 – How to Invest in Long Distance Multifamily with Reed Goossens

Successful investing in real estate takes knowledge, guts and a leap of faith. How much more is required to invest in long distance multifamily?

If you are my Australian guest Reed Goossens from down under, it starts by moving to New York City and you get to work.

Reed is professionally trained as an engineer, and has worked on several large real estate projects. It was during this work, that he recognized the developers and investors were making terrific money, and he wanted to make some too.

Reed started investing in duplexes in northern New York, but knew he wanted more when a friend taught him about syndication.

Confident he wanted more real estate, Reed got a mentor, and that’s when things really got interesting.

Reed quickly found a 250 unit apartment property and worked with his mentor to raise the capital needed to secure this and two additional properties for a total of 846 units in under two years.

Where did he find these opportunities?

What are the key indicators Reed looks for to be successful in long distance multifamily?

CREPN #76 – Trump Administration Tax Plan and its Affects on Real Estate with Jonathan McGuire

Reducing taxable income through interest expenses and depreciation are the cornerstone to a Real Estate Investors tax return. What happens if President Trump and the Republican Congress pass, “A Better Way” tax reforms?

Download Trump Tax Plan Summary

Does a simpler tax code eliminate depreciation? What about repair regulations, cost segregation and the 1031 exchange?

All of these are possible in the Republican Congress attempt at tax reform.

Jonathan McGuire, a real estate consultant at Aldrich Advisors, discusses all of these at length and provides examples of how the proposed changes compare to what the current tax consequences.

While the goal is to simplify tax reporting and collection, the pain of change may scare you at first glance. The changes make the consequences more directly related to the transaction and eliminate many current record keeping exercises to calculate taxes owed.

Here is a look at some of the biggest changes from current tax plan. Continue Reading …

CREPN #75 – How to Dominate Your Marketplace with Rod Santomassimo

The new year brings a new opportunity to dominate your marketplace.

Rod Santomassimo with the Massimo Group is a CCIM, former Commercial Real Estate Broker, author of multiple books. He works as a consultant to Commercial Real Estate Professionals to help increase their results.

In order to produce consistent results, here are some suggestions Rod teaches to his clients.

Before you set a goal, it is important to know where you have been successful first. Who are your current and past clients. What were the exact circumstances that helped you make the sale. Also, what were circumstances of your failures.

Knowing this first is key to understanding who your ideal prospects should be going forward for your greatest results.

Now, you can set a goal for a particular sales amount, but you would be wise to reverse engineer the number to determine the activity needed to reach it. Then make the activity your goal.

Regardless if you are setting your goals on January 1 or June 18, a brand new or an experienced broker, if you want to dominate your marketplace, the following will help you get there.Continue Reading …

CREPN #74 – Leadership with Miles Anthony Smith

Let me tell you about my boss! That’s not what the book titled, Why Leadership Sucks by Miles Anthony Smith is about. Instead, the author shares experience and stories of what he has learned in over fifteen years as a manager leading multiple companies and nonprofits and the challenges leaders face.

In light of the new year, I welcomed the opportunity to talk with Miles Anthony Smith about the challenges leaders face and what they can do to become better leaders.

Most Real Estate professionals are able to go it alone and survive. In order to push past the limitations of doing it all by yourself, you have to find help. If you have no experience, nor clarity on the task or process you are expecting help with, prepare to be disappointed.

Small business is full of owners who are excellent at sales, but have no clue how to lead others.

My experience working for others has shown me that there are two types of Leaders:

those with titles and threats to get what they want from others
those who inspire and have true followers willing to do what must be done

Leading others is not easy. In order to be a great leader, one must invest time, and thought, to develop skills. Skills that include analysis and communication. If the job description is not clear it’s a pretty good bet that you will not get what you need, and end up with two frustrated people, you and those you are trying to lead.

Trust is a key ingredient for a successful leader. If the staff feels threatened, and that they could lose their job if they provide input reflecting what is instead of what the leader expects, the staff will only provide the answers the boss wants to hear.

For more goto:

http://www.milesanthonysmith.com/blog

https://twitter.com/Miles_Anthony

https://www.linkedin.com/in/milesanthonysmith

https://www.youtube.com/milesanthonysmithleadershipcareerwisdom