TR What advice do you have for beginners in the real estate industry? RK 1. Read books: Find the authors that have been successful in real estate and model the author’s philosophy and way of thinking. Change your thinking and you will change your life. 2. Masterminds and real estate investment groups: Start building friendships with people already succeeding in real estate. 3. Deal analysis: Start by learning how to analyze deals. The best way to get good at recognizing
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great deals is to look at a ton of deals including the really bad ones. I use www.rehabvaluator.com both for rehab deals and for new construction deals.
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TR Do you have a guilty pleasure?
RK That would have to be a glass of chardonnay white wine, sashimi salmon, accompanied with some Pine Island clams and Gulf oysters. TR How have you evolved as an investor? RK I started off just chasing high cap rates and even held a few Section 8 rentals, but I have realized over the years that there are many other key factors that are not always apparent on the surface of the numbers. I prefer owning assets that are A and B class assets and in nice locations and don’t mind a slightly lower cap rate on the surface if I am able to own in great locations with strong tenants that take care of my property. TR In response to the COVID-19 pandemic, how have you adapted in your business practices and in your investing choices? RK Initially buyers were all hitting the pause button on new construction but as the economy opened back up buyers/investors have snapped right back with enthusi- asm pointing to a V-shaped curve recovery. I am still waiting to see a flood of distressed property hitting the market. The distressed deals I am current-
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ly seeing are mostly in C-class neighborhoods with cap rates below 10 percent. We are keeping our eyes open for deals but optimistic about our Cape Coral location and the affordability of new construction homes that investors can build for rent. For example, we can build new construction duplexes in nice, working-class neighborhoods at an eight percent cap rate. TR What makes you laugh, no matter what mood you’re in?
RK Kevin Hart or Eddie Murphy •
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