Making Multifamily Money - Feb 7th 2024

Real Estate Updates

Real estate is starting to get boring to me now which is a good thing. Why? Means I am doing it correctly and fighting off shiny object syndrome. I didn’t shiny object syndrome into self-storage, industrial, and short term rentals as initially planned. I have too many battle scars from my mobile home park and this traumatized me from trying a different asset class. I am just sticking to what I already do best which is…

• Single family homes in CA and AL

• Smaller apartment complexes in OK

My apartments in OK have been stabilized for 2 months and my single family homes have stable long term tenants. My portfolio is now boring and doesn’t require much of my time right now which is a good thing.

I am looking for a primary residence for myself and will be documenting my journey on Youtube. I had a realtor show me a house and this reminded me how bad real estate agents and brokers are. I was told a 3 bed/ 2 bath house in a “rougher” area would rent for $5,000/month. This would be “break even” on the property as an investment. I went looking at a newer luxury apartments down the street and the same 3 bed / 2 bath rents for $3,500/month. How is there a $1,500/month discrepancy in rents? Well because the realtor doesn’t own any rental properties himself in the area. This is how you trust but verify your realtors.

This may be shiny object syndrome on my part, but seeing how bad most realtors and brokers are, made me wonder if I should became a real estate agent. I don’t understand how realtors talk about how real estate is the greatest investment, but they themselves do not own much real estate. I own 51 units yet am not a realtor and know how to better analyze rents.

The bar seems low to be a good realtor. I need to buy a house for myself and lots of friends and family ask me for advice on how to buy a house. I did some research and it costs $500 to get licensed in CA. I would probably use an online broker which cost $85/month and charge a flat rate for each closing so it’s “100% commission.”

Curious to get feedback from you all if I should become a realtor or not.

What I Learned

To maintain your muscle mass, you need to work out that muscle group for 5 sets per week. So that would be 5 sets of chest, back, legs, etc per week which is pretty doable.

I let myself go during COVID and as I scaled my real estate portfolio, but now I am focusing back on my health so have been listening to a lot of podcasts about muscle growth and maintenance.

Weekly Self-Reflections

My energy level is way down during the winter time. I am trying to get more sunlight exposure to my eyes before 9 AM to improve my energy and mood in addition to Vitamin D3 supplementation. I try to stand outside to get some natural sunlight as I supercharge my Tesla.

Once the sun goes down, I limit lights in my apartment and dim down all electronics. This helps prepare myself to sleep earlier and optimally.

Video of the Week

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Tackling Student Loans - 8 step system I used to pay off $250,000 of crippling student loans in 4 years. This same system helped me save up for my first single family home which snowballed into 90 units of real estate.

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