We had this old saying back in my investment banking days:
“Don’t fight the tape.”
It was a phrase that we used in finance that basically cautioned you not to bet or trade against the trend in the markets.
It was a REALLY old saying because the term “tape” referred to the ticker tape machine that the old timers used to have on their desks to get stock prices delivered to them before AOL, E-Trade, and iPhones.
The crazy thing was, we rolled our eyes and used the term a ton back then because there always seemed to be some bonehead clown who swore that he had developed a “system” or “strategy” that would beat the market.
The streets were littered with the carcasses of these guys, because the market chewed them up and spit them out without skipping a beat or even noticing them.
In this episode I talk to Brian Borawski.
Brian is a CPA who happens to have several real estate investors as clients in this area – including me. I’ve used Brian for several years now, and it’s been great to have a knowledgable person like him available when issues come up like the sale of one of my apartment buildings back in January of 2013.
The great thing about Brian is that he’s versatile. I found him during my search for a CPA who knew real estate investing in depth, but he’s also been very helpful in creating and managing a corporation that I set up for an Information Technology consulting business I started two years ago.
In this episode I talk to Todd Waller.
Todd is a real estate agent, and in my opinion, he’s the premiere agent in Metro Detroit. He has a tremendously successful business model with phenomenal processes, and he combines that with a laser focus on the needs of his clients. His market focus is the I-275 corridor from Commerce Township to Canton, and then west to Ann Arbor.
His reputation is borne out by his success: until recently his best year as an agent was 2008 – the very bottom of the market – when something like 30% of the agents in the state quit the business.
NO REI news this week in the podcast. My conversation with Todd went long so we skipped the news and went right into the interview.
In this episode I talk to Steve Londeau. Steve is currently a full time wholesaler here in metro Detroit. He had a pretty rocky start to his real estate investing career, but he got focused and got busy, and ultimately co-founded and helped grow a profitable short sale and non-performing note business.
He then had to leave that business rather abruptly due to some family issues, and in the process had to reinvent himself and recreate a six figure income in order to support his growing family.
In the process he created a workflow and set of processes that lets him run his business as a one man operation.
I’m copying some of the processes he mentioned, and you should consider it too.
NO REI news this week in the podcast. My conversation with Steve went long so we skipped the news and went right into the interview.
In this episode I talk to Eric Persha. Eric is a native Detroiter who went away for college then decided to come back to the area and get into real estate. He’s in REI to make money, but he also likes participating in the renaissance of the city.
NO REI news this week. My conversation with Eric went way long, so we skipped the news and went right into the interview.
Eric’s company is called Rehab Detroit. It’s he and his mom working together, and together they’re rehabbing and selling everything from single family homes to four-plexes.
They’re focusing in specific areas in the metro area, and they also do quite a bit in the city of Detroit.
How He Got Started in REI
In this episode I talk to Aaron Yates. We talk about the challenges that lead to him getting started in real estate, we talk about his bankruptcy, we talk about the REI Meetup he founded, and he shares two resources that have made a huge difference in his investing business.
It’s been a slow week in the news department, so I’ll take this opportunity to ask you for a rating and a review in iTunes. If you like the interviews and the format of the show, you can leave a review via the show’s homepage at REITalkDetroit.com. Click on the box that says leave a review. It’s that easy and it takes two minutes. I would appreciate the feedback.
And if you have a news item to contribute or an event coming up, drop me a line and I’ll get it on the show.