Is it just me or is everyone losing their mind over interest rates? Kind of amazing how much hangs in the balance by just 7 members of the Board of Governors (Federal Reserve).
Seems like everyone is sharing the predictions from their crystal balls about how high interest rates will go, when the market will crash (or surge?), and what this means for investment properties.
Meanwhile the people who are focused and are watching the market are making moves. Today we have the distinct pleasure of sharing one of these focused investors making waves. Please meet Jordan Santiago
How many doors do you have?
What got you into real estate investing?
“I didn’t know exactly what I wanted to do once I dropped out of college. I actually googled “how to make one million dollars per year?”, and real estate popped up. From there I went and got my real estate license that I never used, and then jumped full force into real estate wholesaling since you didn’t need a lot of capital to start. So that’s where I fully jumped in.”
What market(s) do you operate in?
“New York, New Jersey and Florida mainly”
How would you describe your portfolio?
“All Multifamily properties. We buy them below market value, and make sure they are cashflow good strong. We like value add where we can buy them, put some work into them to increase the value.”
What are you currently buying?
“Multifamily rental properties and fix and flip properties”
Tell us about your biggest mistake in real estate?
“Biggest real estate mistake was trusting an agent in out of state deal to coordinate the transaction to the closing table for us. He winded up going behind our back to the seller on one of our wholesale deals and ruined our deal. We probably missed out kn about $75,000 that one deal.”
Tell us about your biggest win in real estate?
“Either purchasing our brownstone in Brooklyn which is going to bet us multiple 6 figures, or completing our flip in Long Island NY that netted us $194,000”
Outside of real estate what else do you invest in?
“I have a $50,000+ crypto portfolio as well!”
Books people should read before investing
“Rich Dad Poor Dad will change your way of thinking when it comes to assets vs liabilities”
What advice would you give to a new investor?
“To be insanely persistent. It doesn’t come easy, so you have to be consistent and persistent. Don’t get high, and don’t get too low during the process. If you stay consistent, finding your first deal is inevitable!”
Checkout Jordan Santiago on Twitter
If you’re anything like me – you watch a lot of Gary V., Grant Cardone, Eric Thomas (you get the picture). People who preach grinding your hands to the nub.
While in general I agree – sometimes I think their message is misinterpreted. Being efficient is so much better than endurance. Meaning if you work 60 hours a week but 20 hours were wasted on YouTube videos and FaceBook you really worked 40 hours.
My point is – do what needs to get done, when it needs to be done, and do it right. Then go live your life. Then go on that walk and smell all those smelly bushes.
See you next week