#020: Which Real Estate Strategy is Best For You?
Peter Medelik, guest star on reality TV show House Hunters International shares his expertise and views on determining the real estate investing strategy that fits best for you. We also discuss having strong property managers, especially when dealing with remote properties, and even how to effectively manage the managers. Also, discover creative ideas for working with contractors and other members of a development team in creating alignments of interests in order to have everyone on the deal pulling in the same direction. We even discuss profit share arrangements. And finally, Peter gives parting advice on breaking out of analysis paralysis. Check it out!
SHOW NOTES
1:20 – Peter’s story of moving to the US with nothing but photography gear in 1991 and how he got into real estate investing.
3:03 – Details on the appreciation of the first property Peter bought; meeting his wife and how they work together now.
4:37 – The multiple strategies to real estate investing that Peter pursues now and his thoughts behind them.
7:02 – The importance of having strong property managers, especially when dealing with remote properties, as well as knowing how to effectively manage the managers.
8:57 – Background on how the market in California is changing for fix and flip as well as buy and hold strategies.
11:01 – A shift towards a tighter market which leads to competing with people looking to live in the homes rather than just invest in them.
12:46 – Details on a project that Tom and Peter have looked at recently; creative ideas for working with contractors and other members of a development team.
14:29 – Creating alignments of interests in order to have everyone on the deal pulling in the same direction and Peter’s idea to help make that happen through a profit share arrangement.
16:27 – Additional benefits for the kind of arrangement Peter is looking to make; developing this into a repeatable system.
21:13 – Peter’s experience with private money lending and trusteed investing; advice for others looking to work in similar strategies and some things Peter learned early on.
24:31 – Keeping the strategies diversified without getting too spread out to be distracting.
25:26 – Peter’s advice for the private lending or trusteed investing part of the business.
27:51 – The experience Peter and his wife had being on a real estate reality TV show, House Hunter International; some difficulties with investing in German real estate.
30:39 – Peter’s recommended resources: Property Radar and Red Fin.
33:27 – Parting advice to break out of analysis paralysis; Tom’s meetup, Bay Area Private Money for Real Estate Investors Meetup.
36:36 – Contacting Peter.
Resources and Links Mentioned:
Bay Area Private Money for Real Estate Investors Meetup
The Hayston Group Facebook page
Contact Tom at tom@tombraegelmann.com or feedback@tombraegelmann.com
Recommended Posts
#065: Environmentally Conscious Investing – Investing for More than Just the Financial Gains
January 11, 2019
#048: Are You Looking for Cash Flow from Rental Properties?
December 14, 2018