Reed Goossens - Crazy Sh*t In Real Estate with Leigh Brown - Episode #171

Are you interesting in real estate investing? Reed Goossens, a serial entrepreneur, real estate advisor, speaker, and author, gives us some straight talk about what to consider when investing in real estate. Listen in to learn the strategies he implemented to improve cash flow, protect investments, and build his American Dream. Please subscribe to this podcast in iTunes or in the Podcasts App on your phone. Never miss a beat from Leigh by visiting leighbrown.com. Time Stamped Show Notes: 00:50 – Introducing Reed, a serial entrepreneur, real estate investment advisor, author, and public speaker 01:05 – Controls $150 million-worth of multi-family commercial real estate; he left Australia to chase his American dream seven years ago 02:40 – The barrier to entry is lower in the U.S. than in Australia; he realized he needed to buy more low-income properties to make more of a profit 04:05 – His strategy 04:30 – If he was going to be on the lower end of the market, he needed a larger portfolio; his property manager was able to manage the portfolio, not just one property 05:22 – Cash flow vs. equity advancement 06:45 – You can improve cash flow by upgrading units to get more money and better tenants; always look for value-adds 07:45 – On how value-adds have changed 08:15 – They've changed across the country and are sustainable; it's important to lean into amenities as square footage average lessens 09:00 – On deals, investors, and partners 09:30 – He works with partners and 3,200 different investors 09:55 – He finds investors through his podcast, connections, and referrals; they have a partnership or share in particular LLCs 11:30 – It's important to ask better questions about investment real estate; it's got many legal implications and complexities 12:45 – How to contact Reed: You can find his podcast, books, and contact information on his website 3 Key Points Know your attorney and tax advisor when getting into real estate investing. Consider cash flow and equity advancement. Working with the right team will make you successful. Credits Audio Production by Chris Mottram Show Notes provided by Melissa Valder