Robert Kiyosaki’s Real Estate Advisor, Ken McElroy, was kind enough to give his perspective on the current state of apartment investing on last week’s episode of Wealth Formula Podcast.
Ken’s perspective on the state of the apartment market was pretty bleak. While there is no doubt I respect Ken’s views, I also think it is important to get the perspective of others to begin formulating your own opinions.
Remember smart people can, and often are, wrong. The extreme example is someone like Peter Schiff. I think Peter Schiff is a very smart guy but he’s also wrong a lot. He’s doing an end zone dance right now about the economy going south, but he’s been predicting that for years. Even a broken clock is accurate twice every day.
Ken is definitely not a zombie apocalypse guy, but he also stopped buying real estate 3-4 years ago and has been on the sidelines since. During those years, there was money to be made and others as smart as Ken did exactly that.
Don’t get me wrong, I respect the hell out of the guy. I just think it’s important to not take any one person’s predictions as fact. That’s not fair to him either.
Instead, let us do what any intelligent person should do. Let’s gather facts. Let’s talk and listen to people on the ground who are monitoring what’s going on in real time.
It’s hard to do that when you are not in the business every day. The most successful operators are following everything in real time and, so far, what’s really happening may surprise you.
One of those guys you should be listening to is one of my real estate partners, Dante Andrade. Dante is based in Dallas and is one of the most granular researchers of real estate that I have ever met.
So, if you are one of the many apartment investors out there trying to get informed of what’s really going on, you will NOT want to miss this episode of Wealth Formula Podcast.
Dante is a man of many multifamily real estate hats. He is a buyer’s broker in Dallas, meaning that he is dedicated to the buyer side of acquisition of large multifamily real estate. He’s been involved in just under a billion dollars worth of transactions, focusing again specifically in the Dallas/Fort Worth market. He’s also a real estate coach and mentor and finally, and probably most importantly, he is my partner in our group called Touro Asset Management Group as we acquire a cash flowing multifamily real estate in Dallas.
- What today has been the net result of this entire COVID-19 assault on multifamily?
- What’s going on with Texas?
- Dante talks about why there aren’t more discounted properties in the market right now
- Why are people still paying rent despite the pandemic?
- Sometimes it’s better to be lucky than smart