Find out more about Mike Schlichte
Twitter: @MichaelSchlicht
Facebook: facebook.com/pages/Absolute-Real-Estate-LLC/163583260369921
Website: absoluterehomes.com
Check out Part 2 of our interview with Mike
Opportunities in Real Estate and the Coming Gens With Mike Schlichte (Part 2)
Points
* Not having the capital for a down payment is not necessarily a show-stopper for real estate investment.
* If you have the education, there are people who have the money to invest in your deal/project.
* “The deal of the century comes around once a week.”
* You don’t have to fake it until you make it. You only have to invest in your education.
* Being real is valuable to smart people.
* Flipping is a one-time job or project. Owning a rental property is an investment.
* When buying a rental property, look for one that has upside built-in, too, so that if you don’t like the investment, you can have a decent exit strategy.
* Being diversified in your investments is good, with a mind kept to where your strengths are.
* The game of real estate is a game of information. Whoever has the most information will get the best end result.
* Getting a real estate license will likely benefit people looking to buy more than 1 or 2 properties a year, due to savings on real estate commissions.
* An associate broker (beginning level) must be tied to a qualifying broker to operate.
* A property manager can be beneficial to scaling your rental portfolio.
* Plan to pay a property manager when buying your property.
* To find a good property manager, look for someone who is responsive, even to your initial contact attempts.
* “You make the profit when you buy.”
* Many millenials feel adverse to real estate investment, but there is a great deal of opportunity for those who are willing to be smart about money.
Watch for the next episode coming in only 1 week!
Find out more about Mike Schlichte
Twitter: @MichaelSchlicht
Facebook: facebook.com/pages/Absolute-Real-Estate-LLC/163583260369921
Website: absoluterehomes.com