The Wealth Elevator

Richard Duncan's Economic Predictions (Part 1)

Discussion of China Trade Wars, where we are in the cycle, and new marco economic concepts.

Use code "LANE" for 50% off the Macro Watch! https://richardduncaneconomics.com/product/macro-watch/

Subscribers to Macro Watch will receive:

Richard Duncan is the author of three books on the global economic crisis,

including the international bestseller, The Dollar Crisis: Causes,

Consequences, Cures, which forecast the global economic crisis of 2008.

Since beginning his career as an equities analyst in Hong Kong in 1986,

Richard has served as global head of investment strategy at ABN AMRO

Asset Management in London, worked as a financial sector specialist for the

World Bank in Washington D.C., and headed equity research departments

for James Capel Securities and Salomon Brothers in Bangkok. He also

worked as a consultant for the IMF in Thailand during the Asia Crisis.

He is now the publisher of the video-newsletter Macro Watch, which can be

found on his website:

http://www.richardduncaneconomics.com/

Youtube - https://youtu.be/0pkjUXdKRrc

Notes - SimplePassiveCashflow.com/rossengr

SimplePassiveCashflow.com/158gene

Free 101 Assisted Living Course - http://bit.ly/2WZazEV

YouTube - https://youtu.be/HsAzsoGOTdg

Gene Guarino, CFP and Founder of the Residential Assisted Living Academy is regarded as "the" expert in the residential senior housing space.

Learn more about the asset class - SimplePassiveCashflow.com/alf

I met Bo (online) in early 2018. When I first chatted with him he was another propeller hat.

What makes him different but more importantly what tangible steps did he take.

Bio:

Bo is a buy and hold real estate investor from Southern California and has picked up 6 rental properties in 6 months since closing on his first property. He invests in working class neighborhoods across the markets of Indianapolis, Kansas City, and Little Rock. During the day, Bo works as a senior consultant for a regional CPA firm and hopes to create passive income to become financially free and also educate others to do the same.

Isn't Amazon going to kill Shopping Centers? 

Michael Flight has an extensive background in commercial real estate investing and is principal of Concordia Realty.

Concordia Realty specializes in shopping plazas and retail properties. They prefer to purchase operational commercial projects with existing income. They concentrate on strip shopping centers and they occasionally renovate or restructure existing commercial properties.

They have over a million square feet of retail space located in the Illinois, Indiana, and Michigan markets. Increasingly they are interested in Ohio and Wisconsin. They continually look for good opportunities and are working to expand into new areas.

Michael became involved in real estate shortly after college where he worked as a broker and then began working with a syndicator that owned shopping malls. In 1990, he started out on his own by founding Concordia.

Take us back to Pre-1990, how did you get into Real Estate Investing?

What does Value add mean in shopping centers?

Finding better tenants, upgrading and renovating buildings, and increasing rents.

Isn't Amazon going to kill Shopping Centers?

He says, “A lot of negative press about retail real estate has been generated by companies like Amazon competing online. This has driven down prices and opened up opportunities for Concordia. It’s hard to get goods delivered that last mile to parts of rural America. Even Amazon has invested in companies like Whole Foods as they recognize the need for retail outlets.” They are examining different merchandising strategies and like to see that their tenants have an online component to their businesses.

What types of Shopping Centers do bad?

He discusses the types of retail stores that will likely do well in the current environment and those that may fail.

How are Cap Rates in Shopping centers compare with other asset classes?

Institutional investors?

What are you personally investing in as a LP?

What is something that I (apartment refugee) should do? Go to a boot camp?

Vacation Rentals - Check your lazy equity

Investing out of the country with hotel investing

SimplePassiveCashflow.com/154kira

https://youtu.be/Zb9QnUUvlC4

https://youtu.be/YYNq4EZEjgk

SimplePassiveCashflow.com/153rice

Buy the book we discussed here

Coming out of college—I worked for the department of economic development up in Albany New York, and it was a really interesting experience. I was charged with helping being a part of projects where we try to keep businesses in New York or otherwise help them locate there, which is difficult to do given the high taxes that are in New York.

Did that for a couple of years, didn’t want to be a civil servant my whole life, so I went to law school—like most aimless people do as they try to find their way.

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Money shouldn’t be the dream—but, when it’s managed right, it can be the perfect tool to make dreams come true.

7 Lessons learned from first few deals

7 - Not Googling the crime on the property 

6 - Not communicating enough through the closing process with LP’s (1031 story) 

5 - Not following up with the mortgage broker enough (going through a mortgage broker)

4 - Not having a relationship with the leasing person (found out she was working multiple props)

3 - Not asking if the PM can handle investor checks

2 - Not firing a Property Manager fast enough

1 - Not starting soon enough (invested in SFR’s, but scaled with MFH)

https://simplepassivecashflow.com/151doctor/

Take the hint from other high level investors and be aware that MFH Apartments is where a lot of new syndicators are starting businesses and where all the gurus are teaching about the space. It might be time to look elsewhere other than Apartments and into mobile home parks.

Learn more about the asset class here - https://simplepassivecashflow.com/mobile-home-park-investing/