Aug 21, 2020
In this episode, I will be sharing my interview on the Se Habla Real Estate Show. SHRE is the first podcast, and the YouTube show in Spanish focused on discovering the secrets of success in the real estate investment industry in the United States.
We focused mainly on the perks of investing in commercial real estate, tips when starting to invest in real estate, strategies to build wealth as an investor, and the types of real estate investors. Also, I talked about my real estate journey.
Things you will learn in this episode:
[00:01 – 04:23] Opening Segment
- I talk briefly about valuable information you can take advantage of in this episode
- I share a bit of background story about myself
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- Started with residential real estate
- I answer the question: how do the wealthy invest and what don’t the average investors know?
[04:24 – 13:53] From Residential to CRE
- I talk about the lessons I’ve learned while investing in commercial real estate
- If you are interested in commercial real estate, here are some tips that will help you start your journey
- The Steps to transitioning to commercial real estate
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- Clarity: what’s your plan?
- Find someone that can plug you into the market
[13:54 – 21:39] The Two Types of Real Estate Investors
- The difference between a strategic investor and an investor that chases
- I weigh in on the idea of being a “Geographic Specialist.”
- I talked about how my experience with the Navy Seals impacted my life
[21:40 – 28:49] Strategies for Investing in Real Estate
- I share the strategies I use when investing in real estate
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- I generally look into buying below replacement cost
- Establish your non-negotiables and safe line of investing
- Buying on cash flow
- I talk about what Club Syndication is
[28:50 – 34:24] Closing Segment
- What practical advice would you give to someone looking to make the transition to commercial real estate?
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- “Start to figure out who are the players in your market.”
- “Familiarize myself with the terminologies.”
- What’s one advice that you hear being given a lot, but you don’t necessarily agree with it?
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- “I see too many people leaving their jobs too early jumping into syndications.”
- Final words from SHRE hosts and me
Tweetable Quotes:
“Don’t think commercial real estate is for everyone. I don’t think that you can paint a brush with ‘everybody should do x, y, and z.’ I think commercial real estate is good for people that have a high income, that are busy. They don’t want a second job.” – Shane Melanson
“I would suggest starting as close to home as possible because it is relationship-driven and because you are gonna have what I call ‘a local intel’ or information that investors outside of your city might not have.” – Shane Melanson
“I like to come in fairly conservative because I’ve just had too many market cycles where things come off, and you just have to work extra hard to make a deal happen, and it will come around, but you just want to have that patience.” – Shane Melanson
Resources Mentioned:
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