In this interview with Carlos Baez, I discuss with him how he started his real estate investing journey. Carlos says his wife always said that rentals were the way to go even though he was more in car dealerships. He says that real estate investing started with buying a condominium in Mattapan at $95K with a down payment of $15K.
To listen to Carlos Baez’s Alchemist Nation Real Estate Podcast: #50 Building a 50 Unit Portfolio With Carlos Baez
He further talks about buying property expensively by trying not to guess the market because if the numbers make sense to you at the moment, it doesn’t matter how high.
Carlos also talks about commercial loans where banks look at your numbers and what’s the projection for the property and if you give a fake number, they’re going to read it quickly. Carlos also told me that he names his property by the street they’re on.
Carlos offers his 3 pieces of advice to new real estate investors looking to join the real estate investment game.
1) – Don’t worry about crashes right now but run the numbers because the numbers will tell if a deal is good or not.
2) – Get a good realtor and work with him/her.
3) – Network and talk to as many people as possible because you can’t believe some deals you’re going to find with some people.
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To listen to Carlos Baez’s Alchemist Nation Real Estate Podcast on Anchor: #50 Building a 50 Unit Portfolio With Carlos Baez