In this episode of the Alchemist Nation Real Estate Podcast, I talk to Dave Holman who is a real estate investor, at the same time Buy and Hold Guy who is in Maine hence he is a New Englander. I wanted to know what keeps him in Maine and why is he is investing there. He says that people and the returns are the two things that make him love Maine. He grew up from there and there is a great pride of place when someone is from somewhere, they are part of that town, culture, place which is kind of special to him. He says that he started researching different ideas like real estate which really struck him as something that he should check out, so he dived into bigger pockets podcasts, podcasts like Alchemist Nation Real Estate Podcast, read a lot of books, and learned for a year before he partnered with a family member who had some capital so that they could invest because he didn’t have his own. One thing he has noticed from really big smart real estate investors on these podcasts is that they share one common regret is selling the first property that they should have held onto which is four times the amount they sold it 10 years ago. He started with a single-family home, did another later on, and did a 3 unit building that had a commercial space at the bottom which kind of got wheels turning for him. He did 9 units, 8 units multifamily residential which was coming pretty easily to him, so he decided it to be more challenging and he got into the mix-use office and they have even done some restaurants, some retail which is the same basic idea. You have a real estate asset that you’re renting to a renter whether the renter lives there or works there, there are pros and cons to that side of the coin. I think it is good to understand both even if you choose one niche though he hasn’t been good at that in life because he is too much of a dabbler, experimenter where he enjoys learning a lot of things to stay in his lane.
To listen to David Holman’s Alchemist Nation Real Estate Podcast on Anchor: #95 Alchemist Nation Podcast – Getting Started In Creative Real Estate Investing With David Holman
Dave believes in a free market competition economy that we have which is basically compatible with doing the right thing. This is something that he tries to teach other investors that you don’t have to sell out and be the kind of big evil landlord stereotype that exists in real estate to make money and to do a great thing. You look at a person like Sam Zell whose family was on the last train in Poland before the holocaust, started with nothing and he hasn’t left his values behind to what he does. In fact, he made a very strong case that good real estate investors are making the world a better place by buying large in the way that when you take things that need fixing, providing homes or workplaces for people that need them. That’s very low to the ground, and it’s very good to do in the way that it helps your family and people around you.
Dave says that successful investors have described their relationship to him as these are his customers, these are his clients and it is not the right attitude when you treat them like cattle or a problem that needs to be solved. They are like customers coming to your shoe store and you need to get down on your knees and help them try different things because they’re paying your mortgage, they’re putting money into your bank account, they are ones helping you achieve what you’re looking for. That is the one as to why he started his management company to bring a level of customer service to their customers, tenants so as they have the feeling of ownership.
Dave offers 2 pieces of advice to his 20-year-old self on how to get started in real estate investing.
1) – The perception about real estate that you’ve to be kind of greedy and scrooge kind of landlord
Be a good landlord, make the building energy-efficient, the world a greener place, and improve people’s lives.
2) – Analysis Paralysis because people are on the sidelines, waiting and waiting and going over deals. His advice for them would be to bunt into the first base. Buy something real dumb, simple, and easy.
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To get in touch with dave, text/call 207-517-5700 or visit https://www.holmanhomes.com/
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