Empowering Wealth Creation: A Deep Dive into Real Estate with Wyatt Simon

 

Empowering Wealth Creation: A Deep Dive into Real Estate with Wyatt Simon

 

Guest: Wyatt Simon is a seasoned real estate investor renowned for his transformative approach to achieving financial freedom through strategic property investments. With a background rooted in leveraging the power of real estate assets, Wyatt has successfully built a remarkable portfolio, starting from humble beginnings. Through innovative strategies like the Burr method (Buy, Renovate, Rent, Refinance, Repeat), Wyatt has demonstrated a knack for maximizing returns while minimizing initial capital investment. His dedication to empowering others and sharing valuable insights has made him a sought-after figure in the world of real estate investing.

 

Big Idea: In this podcast is the transformative power of real estate investing in achieving financial freedom. Wyatt Simon emphasizes the importance of aligning investments with personal goals and values, leveraging the right strategies, and adopting a growth mindset to succeed in the competitive real estate market.

 

 

    

Dan: Wyatt, one of the things I’ve also learned, observed, maybe it’s an opinion, but you got like West Coast real estate and you have East Coast real estate, we could say Sunbelt real estate, Sunbelt and West Coast seem to be boom and bust, right? For the last five years, everyone wanted everything in the Sunbelt. Florida, Austin, Texas, Dallas, Georgia, Atlanta, Georgia, all the way up in the Carolinas, Tennessee, et cetera. A lot of those markets have seen a tremendous amount of apartment development. There’s… I forget like 80,000. I don’t remember the number, but a ton of new units are coming online, and starting to hear people gripe and complain about, well, now the rents aren’t, they’re not growing like they were. In fact, they’re even falling as a lot of this inventory comes online and we probably have a pipeline of new construction apartment inventory for another, I don’t know, deliveries for another 12 to 24 months to maybe impress that market. The reputation that the Midwest would get, right? Chicago real estate. They did not put up the volume of apartment buildings that they did in the Atlanta, Georgia market or in Florida is that we don’t see that boom and bust. We don’t see the rapid growth, but we also don’t see the rapid decline. There may be a more subtle wave, if you will, wave function in the growth. Does Omaha operate like kind of the Midwest reputation of apartment real estate?

Wyatt: Absolutely. Yeah, I saw a crazy fact. I know you’re talking about apartments, but I’ll say this. I saw a crazy fact from 2006 to 2008, the Omaha housing market dropped 6%. You had Vegas, Phoenix, and other markets dropping 60%. But we’re very insulated. I would say we lag behind a lot of the curves. On that note, too, in quarter three and quarter four last year, I believe it was the quarter three last year when we were starting to see rent decline across the nation, Omaha was actually the number one for apartment rent growth in the nation in either quarter three or quarter four last year. We are lagging behind the nation on that front. Now, we do have some waves going on. I can tell you, during COVID, we didn’t build and I think a lot of the nation didn’t build, right? Then the year after COVID, we saw a lot of construction permitting taking place. Now, we’re seeing half of that has halted as interest rates have gone up. We’re still seeing our rent continue to go up, but it’s not going up as fast as they were. They’re not decreasing like the rest of the nation here.

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Resources mentioned in this episode:

https://fcequitypartners.com

 

For Access to Real Estate Deals You Can Buy & Sell for Profit:

https://AccessOffMarketDeals.com/podcast/

 

Wyatt Simon & I Discuss Empowering Wealth Creation:

  • Wyatt and I discuss Rental Market Trends, Growth, and Regional Market Conditions (7:13): Explore current rental market trends and factors, including interest rates, driving rent growth for strategic real estate investment decisions in the Sunbelt and Midwest regions.
  • The Importance of Resilience in Omaha’s Housing Market (00:11:39): Analyze the factors contributing to Omaha’s housing market resilience during economic downturns for insights into market stability.
  • The Direct-to-Seller Approach (00:17:55): Learn about strategies for building relationships with property owners and negotiating deals outside traditional market channels in real estate acquisitions.
  • House Hacking and FHA Loans (00:34:50): Explore how to leverage FHA loans for house hacking, a strategy for reducing living expenses through rental income.
  • Scaling to Multifamily Properties (00:35:21): Discover insights on transitioning from single-family homes to multifamily properties for increased scalability in real estate investments.
  • Tax Benefits and Depreciation (00:42:32): We delve into tax benefits and cost segregation in real estate deals, with approximately 35% of the purchase price returned to investors in depreciation in year one. Discuss the allocation of depreciation and alignment of interests between investors and operators.
  • Reflection and Wisdom (00:46:37): Wyatt reflects on personal growth and shares his wisdom, emphasizing the importance of avoiding absolutes and maintaining a positive mindset. Discuss the power of language in shaping beliefs and outcomes, drawing parallels to spiritual teachings and personal experiences.

    

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The transcript of this episode can be found here.
Transcripts of all episodes can be found here.