The R.E.I. Diamonds Show
The Real Estate Investing Podcast for Experienced Investors

What is the #1 Requirement of a Deal? Most people probably jump to price. I know I certainly did for the first 10 years of my career. However, here is the absolutely, most important requirement for any Deal: The Deal MUST Go to Closing I have a friend who bought a apartment complex for something like $70M just before Covid. They accepted a contract for $150M in 2022 right as rates were jumping. Imagine, almost $75M in just 2-3 years. Best Deal Possible? Because the buyer’s interest rates doubled right before closing, they  renegotiated and could close at $110M, which my friend boldly denied believing better offers would appear. Those offers never materialized, and he’d sell you the property at

How to Find Contractors for Flipping Houses What is it they say about real estate? Location, location, location., Real estate is location bound. While you might be able to move the building to another location, you cannot “move” the property itself. Same holds true for contractors. Both are location bound. Contractors are one of the biggest risks in flipping houses. You need to be able to buy their service cheap enough to make a profit, yet they have to do the job nice enough for you to sell the property. It’s a tall order. To complicate matters, you need the job done on a tight schedule. Good contractors are often booked out months in advance & charge prices too high

How to Win Deals Over Competition First things first, don’t run away from deals with other buyers, other offers, or even an asking price that feels outside of the range of your “deal zone” (the price at which you’d close the deal). One thing I’ve observed (and been guilty of myself) post Covid 2020 real estate market: more sellers in this market are greedily trying to “shoot for the moon” when they market their property.  To be fair, some get lucky and get that high price. Most end up doing price drops and selling at a reasonable market price. Lesson 1-If that deal catches your eye, make the offer which works for you. Constructing the Strongest Offer In the residential

The Greatest Power of Humankind The Power to Choose. You’re probably thinking, “really Dan? You click-baited me for this?” Stay with me here today. I had that same thought when I read a book years ago on this topic. As the years have progressed I’ve witnessed the power of both wise choices & poor choices. Let’s swap  “power to choose” for “decision” as we continue here. Where does EVERY SINGLE DEAL you’ve ever done begin? It MUST always begin with a DECISION about what price you are willing to pay. Then comes the offer.  Again, seems simple, but I can remember struggling for DAYS wondering, “What should I offer? Is this too much and I lose money? Or is it

Imagine a 12% Treasury Certificate US Treasury Certificates are considered the safest place to park cash by the entire world. Right now, a 6 month treasury offers 3.64% as calculated on an annual basis. So you buy the certificate today for $100,000 and in 6 months you receive $101,820. If you could somehow buy a certificate that offered 12%, you’d invest $100,000 and receive $106,000 in 6 months. Much better return. The truth is, a US Treasury Certificate paying 12% or more has not existed in over 40 years. They are not likely to return either. However, there ARE places you can park your cash for 6-12 months and receive 12% returns. I am paying 12% on several million dollars

The Best Deal I’ve done Several of the partners here at Diamond Equity are currently going through this book. To properly “read” (prob better described “live”) this book takes 10 months. If you read it, you know. I first read this in 2003 when I was selling cars. I remember suddenly hitting sales bonuses and higher closing % immediately as I began the habit of reading this book. I bought a few used copies on Amazon-as I prefer Hard Cover books over soft & I love seeing someone else’s notes on the pages. Wabi-sabi When this one arrived, I noticed it was old, but in great condition. I paid $11 plus shipping. Upon closer inspection and with the help of