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

A Worthy Goal for Anyone Many years ago, maybe 2012, I met one of our Private Lenders for lunch. At the time she was about 40 years old and had recently retired. She told me a story of how her dad was amused by her goal: Save $1 Million in the bank after paying the taxes, then retire on the income that $1 Million would generate. No rental properties, no flipping houses. She worked a professional career and invested her money passively in real estate deals earning 12%. As she shared the story, sitting across from me-retired-she then shared how her dad was amazed when she did exactly what she said she would. What’s the Income on $1 Million in

Lesson from Today’s Hunt We have a pool in our backyard and two ducks often hang out here. We also have a pool fence to keep out small children. Today, before writing this email, I woke up and let Charlie, my English springer, into the backyard as usual. By nature, he is a hunting breed. Ducks especially. As I followed him out I noticed the confrontation – he was chasing and attacking one of the two ducks who made the error of being on the wrong side of the pool fence. So it began, me chasing Charlie, Charlie chasing the ducks. Each time I separated Charlie from the duck I hoped the duck would fly away. Instead, the duck tried

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