A very personal podcast episode where James shares the mistakes he's made as a real estate investor and the 10 things he wish he knew before starting to invest in real estate.
This is a very personal recording of a class I recorded on March 10, 2021 for our real estate investor group in Northern Colorado.
In it I share some very failures and what I wish I knew if I was getting started investing in real estate in Odessa.
Here's my list of tips:
- Not Get Rich Quick
- "A great business at a fair price is superior to a fair business at a great price." – Charlie Munger
- Return Quadrants™
- Grass Isn’t Always Greener
- Past does not equal the Future
- Deeper Understanding of Income and Expenses
- Sharpen The Saw
Watch the video version of this class:
Resources MentionedIn this episode James mentions the following resources:
- First $100K Is The Hardest - Some more detailed information and explanation on why the first $100K is the hardest.
- Everything You Learned About Deal Analysis is Wrong - An entire class about using the Return Quadrants and reserves when analyzing deals.
- Return in Dollars Quadrant™ - Learn about the Return in Dollars Quadrant™ and each area of return on investment properties.
- Return on Investment Quadrant™ - Learn about the Return on Investment Quadrant™ and how much return you get from each area of return on investment properties.
- Cash Flow Power Meter™ - A tool to visualize how strong cash flow is on a property.
- The World's Greatest Real Estate Deal Analysis Spreadsheet™
What is Odessa Real Estate Investing & Real Estate Financial Planning™ Podcast?
Learn all about investing in real estate in Odessa, Texas with a combination of real estate financial planning and modeling with numbers specific to Odessa plus syndicated, more generalized recordings of live and pre-recorded real estate investing classes (not all specific to Odessa).