Behind the Shine 9/16/22

    It’s day 3 of the Scottsdale retreat and it’s been incredible out here!

    We’re having so much fun, learning, planning next steps, and focusing on the mindset needed to take action. I can’t wait to see what these amazing investors do over the next few days and when the return home to continue their journeys to building wealth through real estate.

    BPCON tickets are now sold out! If you’ve missed out, don’t have FOMO. We would love it if you joined us for a smaller retreat shortly after BPCON!

    I always say that meeting and connecting with other real estate investors is the best way to build your wealth and take your business to the next level.

    On October 5th – 9th, I’ll be hosting a retreat in Scottsdale on how to build big wealth through luxury real estate. This will be right after BPCON, so I’d highly consider using that momentum to launch into this retreat.

    When you’re starting off investing in real estate, it’s all about the individual house.

    I remember those days where I would analyze every single angle of the entire house.

    I knew every floorboard in it.

    And then once you’ve invested in real estate for long enough, you start to recognize patterns in investing and you start to see that the details don’t ever actually make you money.

    It’s much more of the big-picture stuff.

    And your priorities start to switch.

    Instead of analyzing a specific deal to death, you start understanding the parts of the deal that are going to make you money and trying to capitalize on as many of those.

    For instance, when I’m looking at real estate now, I’m looking at:

    • How can I add value to the property?
    • How much is it going to cost?
    • Where am I going to find the contractor to do that?
    • If it’s a short-term rental, what can I do to increase revenue? And then what can I do to decrease the amount of time I’m working on this house?
    • Which areas are likely to grow the most?
    • What kind of backup options do I have?

    I’m typically looking at angles like that rather than just analyzing 100 deals a day.

    With interest rates on the rise, the demand for mortgages is declining at a rate of 29% less than last year.

    Since last year, homebuyers’ demand for mortgages has fallen by nearly a third. 

    Refinance demand also declined as rates surged on hawkish messages from the Federal Reserve. Read more here.

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