December 20, 2023

Something I’m Reading

I just started relistening to one of my all time favorite fiction books called "Red Rising” by Pierce Brown. I absolutely love that book. I've never listened to it, I've only read it a few times, but I'm listening to it on Audible and I'm really enjoying it. It's basically Braveheart in space. It's so phenomenally good.

Something I Photographed

Open Door Capital team goal setting in Vegas last week!

Something I’m Excited About

We just got to Idaho for the holidays and I’m excited to spend time here with my family. Hopefully we’ll get to enjoy the snow on Christmas!

Something I Can Answer

I’ll be answering two questions asked by a BTB subscriber. Have a question you want me to answer? Reply to this text with your question!

Question: "I'm new to real estate, what's the best method to determine the value of an investment property?”

So, there are several methods but the two most popular ones are the Sales Comparison Approach and the Income Capitalization Approach.

The Sales Comparison Approach is used with residential properties. So think, single family houses maybe a duplex or triplex or fourplex, but primarily single family houses. With this approach, the property value is based on what other properties that are similar have sold for.

The Income Capitalization Approach basically looks at the net operating income (NOI), which is kind of like profit on a property and compares that to other commercial properties and their profit. So rather than comparing the property type, it compares the NOI, which is the profit excluding the mortgage payments.

This Week in Lending

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Something I Recommend

I was always envious of the people who are “ON” 100% of the time.  The people who don’t deal with low motivation, doubt, fear of failure, or those endless days of thinking your whole entrepreneurial journey is about to blow up in your face.  These people were running circles around me in business and real estate and when I finally figured out what they had that I didn’t – It all made sense. 

These people were using a Mindset Coach to keep their eye on the prize and expose them to a higher level of thinking every single day. So when I went to find one of these coaches specifically for real estate investors, all roads lead to Jason Drees. Jason has been coaching me for nearly a decade at this point and has supported my growth from a small time investor to someone with nearly $1B worth of assets under management. 

If you’re looking for an edge to accelerate your growth, talk to Jason. You can get a FREE coaching session through this link. 

For my health-conscious friends (or those trying to be healthier), I’ve been using MyBodyTutor for years for accountability on my fitness and diet. These guys assign you a coach to hold you accountable, track your food, suggest exercises etc. You can check them out here.

Disclosure: “Some of the links in this post are affiliate links, which means I may earn a commission if you click on the link and make a purchase. However, please note that all opinions expressed here are my own and I only recommend products or services that I have personally used and found valuable."

Your Friend,

P.S. Comment below and let me know your thoughts on this week’s BTB! Please be friendly :)