One of Bitterroot's partners, Sam, joins the podcast to discuss the importance of underwriting. *Note: We had some audio issues towards the end, but the information shared is still very important.
The more you know, the less risk there is. This is the idea behind today's episode. Sam works as an underwriter with AJ and they have learned what to look for in getting involved with deals. Not only do you need to know revenue sources, but also project expenses and the difference between the way it's being run and the way you would run it, if acquired.
It's easy to know how much you're going to spend on a project, because you can always stop spending, but projecting revenue is a much harder game because it's market driven, especially in something like self-storage which is month to month.
With correct underwriting and negotiating, you can score big. Listen to find out how AJ and Sam pulled off one of their biggest deals, all thanks to solid underwriting.
Don't let banks tell you what you can afford or realtors tell you what something's worth.
AJ and Sam are both big proponents of starting small. Start out smaller, learn the basics, and then move up as you become proficient. You may not make a whole ton of money right away, but you'll start to understand how to find good deals, and how to deal with them.
Topics of Discussion include:
The Elections and Politics (What I Believe and My Position on the Whole Thing)
From Nothing to Multiple Multi-million Dollar Businesses - The Value Add Strategy
How to Build Your Dream Lifestyle Through Real Estate with Hadar Orkibi
Wholesaling Real Estate - The In’s and Out’s with Brandon Barnes
Real Estate Investing - Getting Started on YOUR Path to Investing Success with Ali Boone
How to Grow and Develop as a Leader with Brandon Buck
How to Grow Massive Wealth - AJ’s Key Insights to Help You Grow Your Net Worth
How to Set Yourself Up to Win | The Mental Shift You Have to Address
How to Manage Your Investment Properties and Grow Your Business with Laurence Jankelow
How to Make the Economy Work for You - Don’t Miss the Train
Climbing the Mountain - Three Steps to Getting Your Wealth Vehicle Started
Setting Up Entity Structures for Your Real Estate with Attorney Garrett Sutton
How to Build Your Business and Your Freedom with Mike Simmons
Don’t Bet Against America - The Future of the US Dollar & the Global Economy
Using Pain Like a Superpower - The Currency of Growth
How to Build an Amazing Team - Getting to the Next Level
Should You Buy or Lease a Car? Knowing What to do and When
$250K to $1 Million in 6 Months, Our Private Equity Company, & Building Success in Everything You Do
COVID and How it is Affecting the Hospitality Industry with Dan Rockrohr
From $400 to Owning Multiple $10Millon Companies with Rob Bailey