Whether you're new to the world of real estate or have been around for a while, you'll find this episode helpful. Yonah is joined by fellow real estate investor, Charlie Wessel. They discuss how he got started in the industry, his tips for starting out, and some of the common mistakes new investors make. They also talk about how to assess a property's potential and how to put together a winning investment strategy. By the end of this episode, confident you'll have all the information you need to get started in real estate investing and start making your dreams a reality.
[00:01 – 05:49] Opening Segment
- Yonah and charlie discuss the need for a mentor when he was starting out in business.
- Charlie advises listeners to be transparent and honest with investors, even when things are going bad, in order to keep them invested in your business.
[05:50 – 22:15] Winning Strategies for Beginning Investors
- It’s important to look for other partners for your deals. Work with people you know and trust.
- Practice the principle of "maximizing returns".
- Looking for deals that have a high potential for returns, even if this means investing in a deal with a higher risk
- Investors may be resistant to new investment opportunities, but continue to pursue them nonetheless.
[22:17 – 28:36] THE FINAL FOUR
- What's the worst job that you ever had?
- Selling pools and hot tubs in highschool
- What's a book you've read that has given you a paradigm shift?
- What is a skill or talent that you would like to learn?
- Woodworking
- What does success mean to you?
- Having the time to spend with family
Connect with Charlie
Website: https://www.cordellcapital.com/
Instagram: @cordellcapital
Linkedin: https://www.linkedin.com/in/charlie-wessel-a50b1a15a/
Facebook: https://www.facebook.com/CordellCapital
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Tweetable Quotes:
“Success [is] having the time to be with my family” – Charlie Wessel
“I’m addicted to cost-segregation” – Yonah Weiss
“Version one is better than version none” – Charlie Wessel
