If we haven’t met before, here’s my quick story:
- I come from a lower/middle class family. Dad is a security guard in SF, and my mom is a house cleaner on task rabbit. I grew up in a little town called Clayton, CA about 40 min outside of Oakland.
- My initial drive to work
My Client bought a 5 unit building in San Diego by the beach in 1991 for $625,000.
The value of the property now? $2,500,000.
I found a 5 unit property that sold in 1991 in Kansas City for $55,000. Guess what it sold for in 2024? $450,000.
A $1,480,000 difference in
People in the Midwest shit on California real estate and think they’re making money by buying $200,000 four plexes lol.
We recently bought a Fourplex here for $1,000,000, put in $150,000 and sold it for $2,000,000.
You’ll never see those numbers in the Midwest.
On top of that
My client invested $250,000 into a Sydnication in Houston and all of his equity has been wiped out.
The bank is taking back to the property on Monday.
He sent me the OM last night as well… had a 22% projected IRR.
That didn’t age well.
Before you invest in real estate, please please please drive the neighborhood at NIGHT prior to making one of the biggest, if not the biggest investment of your life.
You never see what a street is truly like at 10 am on a Tuesday. Go there on Friday at 9 pm and you’ll really
A Hill I will Die On:
Real estate > stocks
It’s not even close.
Seeing all of these stock related posts on my feed shows me that most people don’t get this.
The extremely wealthy people understand this.
Nothing else gives you appreciation, cash flow, tax benefits, and
Shout out to my brilliant girlfriend Kristyna for closing $29,000,000 in deals this year in San Diego!
And guess what… She’s only 24 years old!!😳
Such a rockstar, and only going to get better in 2024❤️
A wholesaler just called me and goes:
“Hey Jason I have an off market 15 unit property for $3,000,000 in Orange County, do you wanna take a look?”
I replied yes, because that sounded like a very interesting deal.
He makes me sign an NDA and emails me a vacant lot with the
We have some capital interested in Texas, and I am scratching my head on how anyone makes money out there.
We just underwrote some bank owned properties and just wow..
1. Comps aren’t easily visible since it’s a non-disclosure state.
2. The property taxes destroy your cash
My fiancée is a real estate agent here in San Diego she is busier than ever right now.
Guess who all of her clients are?
1. Trust fund kid
2. Business owner
3. Retired, age 65+
So if you want to be able to afford a house in San Diego either be born rich, marry rich, or start
@dig_deeper1
Multifamily Real Estate Broker in Southern CA and I invest in multifamily properties. I help my team grow their book of business and guide them through the journey to begin investing themselves. I love what I do and I’m lucky to do it every single day.
A young college student reached out to me several times asking if he could intern at my company.
It’s been a busy week, but we were able to connect and the first thing he asks me is “How can I get rich in this industry without having to work too hard?”
I wanted to hang up the
A hill I will die on:
Cold Calling > Cold Emails
Everyone’s emails are filled with spam from people who are too scared to pick up the phone.
Stand out by smiling and dialing.
Got lunch last week with a very successful real estate investor here in San Diego. He has a brother who golfs every day at the most prestigious country club in Los Angeles.
Guess what his brother said?
All of his richest friends at the country club are real estate investors.
I’ve met so many trust fund kids in this business who claim that they’re “busy as hell” during transactions when all they have planned for the day is a Pilates class or a brunch with their mom.
Multifamily Real Estate Brokerage is sadly a very exclusive, white male dominated industry who hate sharing knowledge to the younger generation trying to enter the business.
When a new hire starts at a traditional, big brokerage shop the senior broker tells the junior to start
At our company event, one of my new hires asked one of my most successful clients (Net Worth $50+ Million) what his
#1
piece of advice was to become successful.
His Reply:
Just Don’t Quit.
An LA court just struck down SB9, the law that allowed homeowners to split their lots and build duplexes to increase housing supply.
The judge deemed the law unconstitutional, arguing it fails to ensure affordable housing.
This ruling could have significant implications for
#retwit
We are building Class A apartments in core areas of San Diego and we are raising private debt at the moment.
Please DM me if you would be open to a 15% return distributed monthly for 2-3 years. We will sign a personal guarantee and it is a convertible note after the
Don’t call The old real estate brokers who ramble on and love hearing themselves talk.
You’ll spend 20 minutes on the phone when you could have sent an email and gotten the same answer in 30 seconds.
For those of you looking to get into the real estate business, it's not what you see on my social media and on other people's accounts.
Social media is where people post the highlights, so it really creates a false expectation for the new people wanting to get into real estate.
Within a month I will be signing an office lease in Irvine to start our Orange County office.
We have two Talented Brokers on our team who will be running our 2nd office. If you live nearby and want to get into Multifamily real estate brokerage in fast growing company with a
A Hill I Will Die On:
Starting as a multifamily real estate agent is the fastest way to become a real estate investor yourself.
Becoming an investor should be everyone’s end goal. That’s where the real freedom lies.
We are excited to announce JLM Real Estate Inc. is one of the San Diego Business Journal’s 2023 Fastest Growing Private Companies! With 619.4% revenue growth from 2020 to 2022, JLM ranked
#3
in the under $9.9M category!
@ClintT_land
I would send an offer at where it makes sense for me. If they don’t take it, then they’re not sellers at your price. Keep looking for more deals.
How do these people measure inflation(CPI)? I feel like our grocery bill has tripled in the last 12 months.
Want to eat out at a decent restaurant in San Diego nowadays with your spouse? Good luck spending less than $200.
3.3% inflation is total BS.
I met with the founder of Zillow a few days ago and this was his three biggest pieces of advice on how to grow your real estate business:
1) Focus on what’s working. Stop trying new things when you don’t have the budget for that yet.
2) Delegate everything that’s not a revenue
If you’re trying to get into real estate brokerage and you are the type of person that has to learn everything before taking action, I encourage you to shift this mindset ASAP.
Brokerage is a sport where you have to get punched in the face, fall down, and get back up 1000 times
10 Years ago, I was 17 years old and excited to go into my senior year of high school.
7 Years ago, I was miserable and completely lost in college. I had no direction and I was going down the wrong path.
5 Years ago, I closed 5 deals before graduating from San Diego State and
I found a partner who supports my goals but also challenges me. I am incredibly grateful for you Kristyna, and I am excited to grow with you!
PS - We just went into escrow to buy our first property together!
@meetmikehiggins
When I get pitched deals, I make sure to underwrite them myself. So many people risk a lot of money by listening to non professionals that have no idea what they’re doing.
WS Communities returns the keys for 28 multifamily properties in Los Angeles, addressing over $1 billion in debt. This move impacts a substantial portion of the company’s portfolio in the region.
The properties in question include both existing apartment buildings and
Grant Cardone lost ALL credibility for me when in his book “Sell or Be Sold” he mentioned that “price doesn’t matter.”
How do You brand yourself as a real estate investor and raise money when you have a chapter dedicated to price not being a part of the equation.
Price is
New Acquisiton!🔥 We purchased 16 units a few miles east of
#SDSU
for $4,300,000!
We sold two fourplexes for maximum prices and we’re able to 1031 exchange into this property improving our position from 8 units to 16 units in a better location.
#realestate
#multifamily
#invest
Every noobie investor fresh off the syndication scam 101 course out there is following the herd and buying in the Midwest and sunbelt.
Be smart and buy in California. I’ll bet any money that people who bought in California 20 years ago vs 20 years ago anywhere else in the US is
My team wanted to me take a photo of their first multifamily acquisition contract!😂
This is one of the reasons why I started JLM Real Estate! I wanted to change and impact the lives of my team members!
Seeing these young guns grind everyday in the office and now having the
At the beginning of this year Orange County led the U.S. in rent growth, with a nearly 4% increase. San Diego followed with less than 1% growth, while LA and the Inland Empire see flat rents.
A balanced supply and demand in OC drives these gains, in comparison with the national
Dear Asian mothers,
Stop telling your children what they should grow up to be.
——
Mine was a prime example of this.
Don’t let your parents hold you back from achieving your dreams!
My biggest weakness is trying to do everything at once and never being satisfied.
In 2024 I need to enjoy the wins more and delegate more. Empower my team to have bigger responsibilities and make more money.
Excited for what’s to come.
Pain is coming in multifamily and it’s not looking like it’s slowing down anytime soon. A lot of people were confident that interest rates were going to go down but that is simply not the case right now.
We’ve actually seen an increase in rates. We’re also seeing sellers selling
@CohenSite
This is why I love X so much. We all learn new things on here from a lot of different people. You never know what you’re going to learn on here. Very interesting platform!
JUST CLOSED - 4 Units in Los Angeles for $1,140,000!
1531 E 92nd St consisted of (4) (3-bedroom/1-bathroom) units.
Buyer plans to renovate all units and stabilize the property!
When we reached out to our client and told him about this off market opportunity we had, he was