Have you ever had an a-ha moment? I mean one of those moments of clarity whereby in a feat of intellectual acrobatics you question and successfully defeat solid logic that you’ve come to except as truth…
I had one of those moments a few days back. It doesn’t happen often to me since I try not to think too much (works out pretty well for a dumb landlord like me), but this time such a moment was triggered by a question from a fellow BiggerPockets member, Mehran Kamari, on another post of mine entitled A Controversial Look at Debt.
[By the way, this kid Mehran has some serious potential in my opinion. Although an opinion of a dumb landlord doesn’t mean much, Mehran seems to have it all together. I mean, if I knew what he knows when I was his age…:)]
But the bigger point is this – you newbies out there have BiggerPockets; I did not. When I was first figuring this stuff out, Josh Dorkin was a blimp on the corporate radar, and Brandon Turner was…never mind; we don’t really need to go there, trust me! The point is this – use the collective knowledge on BP to cause action and positive change in your life, much as Mehran is doing! But I’ve regressed…
The question Mehran asked me at the end of our exchange which triggered my chain of logic was the following: What do you like about Lima so much, besides the 10 CAP?
I’ve always believed and taught that successful real estate investing lives at the intersection of Desirability and Accessibility (affordability), which is to say that, on one hand, your product has to be something that people want, but simultaneously it also …read more