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BIGGEST RISK with Kathy Fetke

Commercial Real Estate Pro Network

Release Date: 12/17/2019

Automate Capital Raising for Commercial Real Estate with Jake Marmulstein - CREPN #267  show art Automate Capital Raising for Commercial Real Estate with Jake Marmulstein - CREPN #267

Commercial Real Estate Pro Network

Today my guest is Jake Marmulstein. Before grant before founding his company Groundbreaker, Jake held a number of roles involving real estate and technology, supporting the growth of early stage digital technology ventures, while working with the government on foreign direct investment by Fortune 500 companies.

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Commercial Real Estate Pro Network

So Darrin, the BIGGEST RISK for Groundbreaker in as I as I look at our business, and what we're doing is really managing expectations with people. Software is a living, breathing thing. And it is very challenging for people to evaluate. who aren't typically Software buyers and a lot of people in real estate aren't. So our job is to be good stewards of the, you know, good stewards to other people.

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Today my guest is Yakov Smart. Yakov is considered to be the leading expert when it comes to attracting A  list investors and raising capital using LinkedIn.  He is the author of Disrupting LinkedIn and a sought after authority by top business owners and sales leaders worldwide. Yakov has shared the stage with Samantha DeBianchi of Bravo's hit TV show Million Dollar Listing.

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Commercial Real Estate Pro Network

It's a great question. It's not something that I you know, honestly think about on a daily basis. I guess I'm you're a little more. You know, you see, you see A lot more different scenarios as being an insurance than I probably do when it comes to risk. But I'm gonna I'm gonna give a bit of what might be a bit of a surprising answer here. I think the BIGGEST RISK is a combination of plagiarism and misinformation because in the space, let's call it mentorship or online programs or coaching, consulting.

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Today, my guest is Jason De Bono. Jason is the NuView Trust Company, Vice President and in a little bit he's going to share with us the benefits of using a self directed IRA.

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Commercial Real Estate Pro Network

I think the BIGGEST RISK for a self directed account is that you take responsibility for all the investments, and it's a risk of personal accountability, right? If you keep your IRA in the stock market, one really nice benefit is that when it goes up and goes down, you know, you can kind of finger point your way around around it. Risking in a self directed account means you're taking on all the risk.

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Today, my guest is Jon Bell. Jon is an IT professional turned real estate investor. He's a he specializes in vacation rentals, and today we're going to speak with him about Airbnb. He's also got a podcast he hosts the podcast Vacation Rental Machine Podcast. And he's also the co founder of the Vacation Rental Machine Formula an online training.

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Commercial Real Estate Pro Network

I'll answer it and maybe the most common risk that people assume when they think of short term rentals or specifically Airbnb s and that is major parties. People messing up your your place. With my experience, it's not the major risk, it is something you can hedge off. And this is how you do it. 

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Today, my guest is Michelle Bosh. She and her husband are real estate investors, entrepreneurs. They have multiple businesses and they have taken businesses multiple businesses they've built from scratch to seven and eight figure income revenue streams. And their business platforms include land auctions, rental portfolios, they've all authored a an Amazon number one bestseller called Forever Cash. And also, they host together the podcast Forever Cash. And Michelle also hosts the podcast In Flow.

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Commercial Real Estate Pro Network

You know, the BIGGEST RISK that we have right now is that for the percentage of the tenant base that is unemployed, or that has lost their job because it is worked for housing, we buy c properties and B neighborhoods you know, that that if they've lost their job and unemployment you know, kept gets cut down, that they might not be able to To make their rent payments, so though, that's a big risk right there.

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Darrin: [00:00:08] Kathy Fetke, What is the BIGGEST RISK? [00:00:11][3.5]

Kathy: [00:00:14] Well, there are so many, but I would say the BIGGEST RISK is not being educated, which is why it is my mission to help people. Like I said at the beginning, the show to raise the wealth consciousness of the average person and definitely of the average investor because there are so many landmines. Whether you're investing in the stock market or in real estate or in Bitcoin or whatever you're investing in. You've got to really take a deep dive and understand it. We've been sort of trained over the years to not really understand it, but hopefully our financial planner understands it and we hand over our money and hope they do well with it. So we haven't really been taught that it was important for us to understand it. We don't we're not educated and in high school and probably not in college for most people. [00:01:00][45.7]

[00:01:00] So first and foremost, the biggest risk is not understanding what you're investing in. From there, I would say what I'm seeing is a lot of gurus. We're at that stage in the market where people have maybe done fairly well, then maybe they did one deal and it went well because we've been in the market and now they are a guru. I've seen this. They can very easily start a podcast or it's so easy to become sort of a well-known person. Thanks to all social media and the Internet and so forth. So these people now don't have a lot of experience, but they've kind of become this guru, so to speak. I'm seeing every day I get people coming, deals coming on my desk that, you know, hey, we just found a 400 unit apartment building. Do you want to invest in this or do you want to partner with us on it? And I'm not an apartment expert, but I do surround myself with experts. And we just kind of sent two deals yesterday to our apartment guru. He is a real one. He's been doing it for 40 years and he asked 10 questions. And basically they were really bad deals. So he, in fact, owns 10000 doors apartments and and just sold the bottom 10 percent that leased performing the the properties that were just OK. They'd already tried to rent the raise the rents as high as they could go. They'd already done the renovations. There was no more money that could be squeezed out of these properties. So they marketed them and they put them at the most ridiculously low cap rates, the highest price they could. They couldn't even imagine anyone would consider buying these properties. And there was multiple offers over asking price. So they basically sold the bottom 10 percent of their portfolio for the highest price. And they're sitting on cash, waiting for some of these deals to implode. Because there's so many people who just don't know what they're doing in multifamily, but are obsessed with the idea of it, thinking that that's that's the true way to wealth. Which it can be, if you buy right. So to me, that's that's kind of a I'm seeing that pretty commonly today. If you're going to invest in somebody syndication, make sure they have more than 10 years experience or they have someone on the team who does. A wise, wise advisor. Because there are a lot of the highly experienced people are just scratching their heads going. I don't see how this is gonna possibly work out for them.