EP 86: Winter is Coming: Utilizing this Recession Could 10X Your Real Estate Career
The people that can move the fastest are the ones that have the most information available to them. Jake Harris is a book author who specializes in investing in real estate during a recession. His goal is to let investors understand the business model and business thesis that investors are coming into to execute the business plan and do the acquisition price warrant. He also shares that it starts with the business plan; the best time to invest is in your hands, it just depends on your business plan.
Our guest shares that the key to success is about setting and changing your mindset and using your time and talents to dive into your purpose. Brace yourself as you learn how to change your mindset, have the ability to move quickly and efficiently, and then create generational wealth in these recessions.
💥💥 Remember, this is your MBA. Have a notepad handy, and get ready to take some 📝 notes!
Key Points from This Episode:
Jake shares about how he started writing "Catching Knives."
How does diligence make reconnecting with a course difficult?
Jake talks about the intrinsic price.
Why is building a business plan the first thing that investors should be doing?
How does cash flow affect the investment horizon?
Forming an avenger core of people that are going to go in and buy these distressed assets, or something along those lines.
The big gap between the buy and sell aspects
Jake gives advice when buying a deal.
How does Jake define interest rates?
How does Jake work with investors?
A big disillusionment about money trading
Jake shares how important it is to develop the passive wealth machine.
Tweetables:
“Trial and error is an amazing and fantastic teacher— it's actually the worst way to learn.” – Jake Harris.
“People are more willing to sell closer or even at a discount to what the intrinsic price is.” – Jake Harris.
“It's always a good time to buy. It just depends on your business plan.” – Jake Harris.
“And so that is very much a lot of the components about how you're buying—you need to understand the game you're playing.” – Jake Harris.
“Timing is everything.” – Tajes Gosai
“You need to stop trading time for money and start trading money for more time..” – Jake Harris.
Resources
About Jake Harris
Jake Harris is an author on distressed commercial real estate, bringing 18+ years of experience in real estate, construction and investment management, and has been a featured national speaker on his expertise. Over the past 6 years, he has managed, developed, and acquired $200m+ in projects and over $250m in the development pipeline, primarily focused on San Antonio and central Texas. Jake loves to build relationships and communities. Above all he is a family man, fathering two adventurous boys and a newborn daughter with his wife.
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