Christian Osgood calls "buy cheap, buy crappy" the stupidest real estate advice ever. Instead, buy the best property in the strongest location you can afford. He bought an office building in Abilene, Texas that cash flows and includes 80 residential units, proving quality and location drive long-term wins.
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Losing real estate advice: buy the best property in the best area you can. No, buy the best property in the best area you can. Don't buy the worst anything anywhere. That's the stupidest advice I've ever heard, and it's super popular. People are like, look at this real estate wisdom, buy a crappy property. You lost me at buy anything crappy. Buy valuable things. We are in an office of a deal that cash flows day one. It's in Abilene, Texas, a booming market with a huge housing shortage. This office just passively comes with a cash-flowing deal and 80 other units attached to it. It's absolutely beautiful. This is where I get to work out of and where my staff gets to work out of, and it's because we bought the best asset in the best area. Buy the best real estate you possibly can. That is true real estate advice. If you want to kick it up another level, do it without spending any money.