This is the Worst Real Estate Advice You Will Hear

Worst real estate advice you will ever hear: buy the worst property in the best area you possibly can. That is stupid. Buy the best asset you can in the absolute best area that you can. There is no reason to buy cheap properties in the middle of nowhere. There's no reason to buy the beat-up property and hope that it makes money, that you can fix it up and it appreciates. Buy the best asset you can that cash flows today. You are in the office of a building that came with 80 other units. This cash flows tens of thousands of dollars a month, and me and my staff get to work out of this space that just comes with the building. This is just a passive side effect of buying the best deal. This is a beautiful place to work out of. A beautiful place for our tenants to live, and we bought it $0 out of pocket. This is the strategy: buy the best real estate that you possibly can, period. Best property, best area.