Welcome to the long July 4th weekend! A time of hot dogs, baseball, and talking about real estate at family BBQs. Nothing better than getting in a heated argument with that one alt-coin obsessed cousin/nephew over a few BLs (Bud Lights).
Have to imagine the Founding Fathers would be proud. Talking about compressing cap rates in-between shooting Roman Candles over bodies of water, side streets, and major thoroughfares.
With that imagine in mind – it is my pleasure to introduce this week’s investor. Please meet Benitez!
How many doors do you have?
Right now I have 18 doors
What got you into real estate investing?
Did not see myself working up to 67 or whatever retirement age is these days. It seems to increase as life expectancy does.
What market(s) do you operate in?
Hudson Valley New York and Maryland for now.
How would you describe your portfolio?
C level markets of 1-4 units. Will like to begin doing ground up development and then graduate and shift to B markets multi-families.
What are you currently buying?
More townhouses and multi family. Also seeking short term rentals to tap into that asset class.
Tell us about your biggest mistake in real estate?
Trusting a contractor.
Tell us about your biggest win in real estate?
Bouncing back from mistakes and having the grit to keep going despite the mistake.
Outside of real estate what else do you invest in?
Crypto. I believe this will ultimately be the next alternative investing option with lucrative passive returns. I believe the early adopters will be the biggest winners.
Books people should read before investing
Rich Dad Poor Dad. It’ll just set the tone and foundation.
Millionaire Next Door as well. It’ll keep you honest once you begin making significant income – to stay the course and remain grounded.
What advice would you give to a new investor?
Become self aware of what you’re good at and what you’re not good at. Real Estate investing while fun at times, it’s not passive. If you want passive, do crypto or equities. Real Estate investing it’s more of a “physical” game/sport.
At the base of the back stairs is a magical vent that spews nothing but cold air. It chills the wooden steps and turns the tile floor to ice. This magical place is commonly called the “Cooling Station”.
There are few places in this world that Princess enjoys more. She is able to cool herself down while staring out the back door. Where she is able to watch who is coming and going. Waiting for an enthusiastic greeting.
For the past few months this magical place has been a bridge too far. As some of you know she took a tumble down a flight of stairs. Rendering her front left paw nearly broken and encased in a pink cast. Those handful of steps were impossible for her to manage.
Recently she was able to have her cast removed and has begun the long journey of recovering. While physically she can navigate stairs – mentally they still terrify her. This image was the first where she was able to muster the strength on her own to return to the Cooling Station.
We’ve all felt this feeling over the past 2 years. Desperately wanting to go somewhere – but being unable. Let’s be thankful this July 4th weekend and not take our favorite places for granted.
See you on Tuesday – STR Pro: How to Evaluate a New Market