In this episode of The Financially Mindful Podcast learn from the playbook of Mark Pearlstein, career real estate investor and founder of Metro Realty. You’ve probably heard about the opportunities on the horizon in the real estate market. Is now the time to make your move? Get insider tips from Mark on how to make the best investment decisions, add value to your properties, and even finance your initial investment. Mark covers the risks and rewards of the market in this episode of The Financially Mindful Podcast. 

 

Daniel James

Dan is Founder and CEO of CanopyLife, a platform committed to building families’ financial resilience to deal with major life events. Dan founded CanopyLife after experiencing the financial and emotional cost of losing his dad to cancer, and wanting to help families avoid the same pitfalls. A Kellogg School of Management grad, Dan previously led new product development at Capital One and has nearly a decade of experience working in product development at startups focused on consumer, fintech and insurtech. In a prior life, Dan was a consultant at BCG and worked in Equities for Goldman Sachs and ABNAMRO. 

 

James V. Grace

Jim Grace is the Director of Wealth Management at Silver Pine Capital in Medfield, Massachusetts. ​Jim has more than a decade of experience in the financial services industry, leading Silver Pine’s financial planning and broader wealth management service offering. He has worked for MetLife and has managed for First Niagara (LPL Financial) and United Northeast Financial Advisors (Infinex Investments). He is father to two children. 

 

About our Guest:

Mark Pearlstein is the Founder and Executive Advisor of Metro Realty, a boutique realtor of the Greater Boston area. Mark started his 30+ year career as a rental agent and went on to start Metro Realty. He owns his own rental units, which turned into investing, owning, and operating multiple multi-unit buildings throughout the country. Mark also has experience with single family homes and Airbnb vacation rentals. 

 

Insight from this episode:

Mark’s principles of real estate investing to earn strong returns even in the competitive market. 

Details on the impact of COVID on the real estate and rental market.

Secrets to thinking outside the box and differentiating yourself from other buyers. 

Resources for making informed evaluations before making any real estate decisions and pitfalls new investors should avoid. 

Qualities you have to look for in a real estate broker to find the right fit.

 

Quotes from the show:

“It really takes this kind of adversity to really create opportunity. And this to me is a once-in-a-lifetime-- or will be in the next year or two-- opportunity to get into and invest in real estate.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (13:12)

“The old adage: location, location, location, is the truest form… The first thing you want to do is pick the best location.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (18:02)

“But the beautiful thing about property is it’s brick and mortar. It’s real. Real property, its history, its character.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (19:55)

“The soundness of the association if you’re buying a condo is extremely important… You got to do your homework.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (26:17)

“The owner occupancy is the number one concern I would have. I would never buy a condo in a building that was all investors unless I was going to buy most of the units in there of course.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (28:54)

“When I buy something, I want to buy it based on the income value… when you go to sell, you want to sell based on a per unit basis.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (33:24)

“If you wanted to buy a couple of units, you want to try to diversify just like a stock portfolio.” –Mark Pearlstein The Financially Mindful Podcast Ep. #8 (35:08)

“The right dea