Ep 93: How You Can Get Real Good at Real Estate, With Chris Grenzig & John Cohen
In the wake of a global pandemic and political instability, there are still big gains to be made in the world of real estate. Today’s guests are the hosts themselves, John Cohen and Chris Grenzig. In this engaging and hopeful conversation, they share insider tips and shine a light on real estate in its past, current, and future forms. As we cast our eyes toward 2021, Cohen says the present moment is an opportunity to roll up our sleeves, ask the right questions, and adapt to the new normal of real estate. Discover how you can take the fear out of deals, debt, and a constantly changing cap rate, by treating them as levers and pulling each to make risk-adjusted choices that suit you. Grenzig believes it’s about knowing where to look for deals and how to create success out of them. To do this, you need to step out of the remote and virtual world of real estate and invest in submarkets like your own backyard. The two also explore the dynamics of going into business with new partners, assessing fresh opportunities, and steering your real estate ship away from common obstacles. You’ll hear about their own experiences, why they favor apartment rentals over storage units, and the best ways to generate $10,000 a month of passive income. Be sure to join John Cohen and Chris Grenzig for this episode special, and find out how you can get real estate to work for you.
Key Points From This Episode:
Despite a pandemic and political instability, real estate is still an attractive investment.
The important questions to ask yourself going into 2021 real estate.
How the pandemic and lockdown have affected multifamily real estate.
Mitigating the risk of debt and looking at the debt risk through a different lens.
Reacting to cap rate flux, and weighing up value in peaks and dips.
Why investing in backyard real estate can give you a distinct advantage.
Understanding why submarket knowledge is so important.
Determine the reliability and validity of potential partners and their numbers.
The virtues of buying older property over developing new properties.
Why Cohen and Grenzig primarily focus on apartment rentals.
Ways you can diversify your portfolio versus finding a niche.
How young people should approach real estate.
Hear the odd logic of making great passive income.
What the quickest ways are to generate passive income.
Defining what true passive income really is.
“Everyone needs to get out of the 2020 mindset and start setting up the foundations for your 2021 to start it off with a bang, today.” — @johnc429 [0:04:40]
“When buying real estate, don’t make debt be the defining factor of the deal. Make the debt work for the business plan.” — @johnc429 [0:10:00]
“Investing in your backyard, that locality aspect of it, that inside knowledge...you can probably evaluate better than somebody else that has the same level of skill and knowledge in real estate as you do.” — @ChrisGrenzig [0:26:29]
“When you’re looking at a deal with a new partner, the first thing you can do is to better educate yourself, so you can understand the levers that make the deal.” — @ChrisGrenzig [0:32:41]
“There is a really good saying that says, ‘People get rich by focussing on one thing, and they stay wealthy by diversifying across many things.’” — @ChrisGrenzig [0:42:54]
Links Mentioned in Today’s Episode:
John Cohen on Twitter — https://twitter.com/johnc429
Chris Grenzig on Twitter — https://twitter.com/chrisgrenzig?lang=en
Get in Touch
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Connect with Chris - https://linktr.ee/chrisgrenzig
Toro Real Estate Partners - http://tororep.com/
The Real Estate Investing Experience - https://www.thereiexp.com/
The REI Experience YouTube - https://www.youtube.com/channel/UCjt6pmkA8ogACZ26oqhBM0g
The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260