Show Notes
If you worked full-time from the age of 25 to 65, you will have worked a total of 75,000 hours! John Casmon tells us that he was working in marketing and advertising for 15 years. While it has always been a plan to shift to real estate, focusing on family and spending more time accelerated this career change. From the get-go, he wore many hats, from repair to contractor, to painter but seeing as how much time it took to flip houses, John needed to find another solution. So they went from taking a bite out of the small pie deals that require time to the larger pies that involved less time and created more opportunities. It wasn’t easy of course. He shares how important fundamentals are, like cap rate comparison, and rent pricing in relation to surrounding development. He exudes a truly deep understanding of the market. One of John’s insights is that returns are a measure of risk therefore it is only proper that you know every single one of those potential risks when considering a life in real estate. Watch the episode now and don’t miss out on all the other valuable insights.
HIGHLIGHTS OF THE EPISODE
01:00 – John the Midwest kid
01:15 – 15 years in Marketing and Ad
04:09 – The sweet spot: Large apartment buildings
05:12 – Passive but not really
07:09 – Small pie to larger pie
10:09 – Pillar 1: Lead Asset Mgmt
11:18 – Pillar 2: Partner with other operators
12:45 – Working employee for 75,000 hours
14:42 – Deals are created not found
18:55 – 5-year hold and 15% IRR
20:12 – Market Understanding
23:41 – Negotiables and non-negotiables
24:28 – Cap rate comparison
26:38 – The labor side of things
30:11 – Where is the potential upside
31:35 – Returns are a measure of risk
35:22 – Rent pricing and saved by the bell
36:24 – Job creation and development
37:05 – Multifamily Insights Podcast
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