Joe Fairless is one of the most incredible American Dream stories you can imagine. In college, he taught pre-school, moved from Texas to New York and went into advertising. At an advertising agency in New York, he climbed the corporate ladder, rising from a junior project manager to a vice president before my 30th birthday. He was their youngest VP ever. Also performed stand-up comedy at Gotham Comedy Club in NYC. Decides to switch careers and just into real estate after owning 4 single family rental homes. His FIRST deal he raises $1,000,000 from private investors for a 168-unit apartment community. Now Joe controls more than $460,000,000 worth of multi-family real estate. He has written three books: Best Real Estate Investing Advice Ever Volume I; Best Real Estate Investing Advice Ever Volume II; and the Best Ever Apartment Syndication Book. Additionally, his podcast is fast closing on 2000 shows: Best Real Estate Investing Advice Ever Show and Joe maintains a blog which includes more than 1,300 helpful posts.
Advice Ever Show and Joe maintains a blog which includes more than 1,300 helpful posts.
03:04 – Michael Flight, CEO of Liberty Real Estate Fund LLC, introduces himself and Concordia Realty
07:18 – What value-add activities maximize success for properties?
12:14 – How to use tax increment financing
14:02 – What happens if a tenant declares bankruptcy?
15:16 – Steps of beginning a lease with a tenant
17:16 – When to use a bridge loan/development loan
18:10 – What to look for with real estate operating cost – all about location
19:55 – Main-and-main location
20:38 – What are the two most important demographics to know about a property?
3 Key Points:
- Importance of value-add activities
- What to know when evaluating a tenant and lease
- Location strategy of a successful property
Try something new, purchase a shopping center! Our guest looks for value add shopping centers that are ugly, strange, underperforming, etc…and turns them around! Hear about an 8-year deal and how he turns low volume tenants into a booming location!
– President of Concordia Realty Corporation and Concordia Realty Management, Inc.
– Base in Oak Brook Ilinois
– Say hi to him at http://www.concordiarealty.com/contact/
– Best Ever Book: Halftime with Bob Buford