My guest this week is Keith Wasserman, co-founder of the real estate investment firm Gelt.
This was my first fully dedicated conversation on direct real estate investing, so we cover many different topics, including the pros and cons of different types of real estate, current valuations, risk vs. reward, tax protection, and the most interesting emergent areas.
You can tell Keith is an entrepreneur at heart so I enjoyed his energy and all that he has learned. Please enjoy.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
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Show Notes
1:15 - (First Question) – Their interest in apartments and mobile homes as investments
2:32 – The returns spectrum for different classes of real estate
4:03 – His early entrepreneurial ventures and the start of Gelt
7:45 – Don’t be afraid of negotiating
8:34 – Going through early deals in real estate
11:57 – How he determines when it’s time to sell a property
14:13 – How do they think about taxes in their investment offerings
16:57 – Depreciation strategies in real estate investing
18:27 – The evolution of the types of real estate properties they’ve invested in
21:41 – Most important factors when evaluating a building to invest in
23:50 – Barriers to entry
25:41 – Changes in his cost of capital
28:51 – Cost of debt and deciding how much to put into a building
30:33 – A look at the competition
34:51 – Effective marketing strategies
37:07 – How demographics impact their strategies
39:11 – The co-living space
40:34 – Cloud kitchens and how he would invest in these
46:11 – How autonomous vehicles will impact real estate
47:52 – Pros and cons of developing new properties vs buying existing ones
49:59 – Early stage investing interest
53:48 – Favorite business/entrepreneur story
55:10 – Advice for younger entrepreneurs
57:09 – Kindest thing anyone has done for Keith
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Invest Like the Best with Patrick O'Shaughnessy