Strategic Real Estate Investing

If you're new to real estate investing, pay good attention to what Megan is sharing with you about running a business and getting really clear on your business model and what you're looking for and what your non negotiables are. It'll mean you do a lot less deals, but it'll also mean that the deals you do are of higher caliber and that you can make your peace with the result of the deal one direction or another.

Absolutely. Unfortunately, you have lots of ups and downs and it's taken a lot of bandwidth for you to work through that. But I think the important message too is that it was one property. It's not 10 or 15 properties of that same caliber. And if it was 10 or 15 properties, that's a lot harder to recover from. It's a lot harder carrier as far as the negative cash flow goes. Investing in a smaller area, a little bit more risky because it's tertiary, even a four times market. And so I think that the message is to really understand the strategy in the long term. Hold on. That knowing your numbers is key.