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.
- 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.