Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast Chief Operating Officer (COO) of the National Real Estate Investors Association, Charles Tassell. Charles shares his experience as a commercial real estate investor and political lobbyist. He speaks to best practices and strategies for evaluating neighborhoods, the strategic advantage of buying during a down cycle and the importance of choosing the correct business partner. Charles speaks to the impact that local government can have on real estate investing and the value of getting involved in your community at the local level to bring about positive change.
Key Takeaways
- 00:40 – Tom introduces today’s guest, Charles Tassell who joins the show to talk about his real estate investment strategies and the work he’s doing as a political lobbyist
- 05:27 – The strategic advantage of buying during a market down cycle and the importance of choosing the correct business partner
- 08:55 – Headaches in real estate investment and tenants
- 13:05 – Best practices for evaluating neighborhoods
- 16:14 – The process of ‘slow flipping’ properties
- 20:13 – Advice for those looking to get into commercial real estate
- 22:50 – Charles speaks to the experiences he’s had with different banks
- 24:39 – Making the shift from residential to commercial real estate investment
- 31:41 – Talking politics in real estate
- 37:35 – The importance of paying attention to local government
- 39:59 – What the average real estate investor can do to protect themselves
- 47:19 – Tom thanks Charles for joining the show and let’s listeners know where to follow him
Tweetable Quotes
“I like Warren Buffet’s line, ‘Buy when people are selling and sell when people are buying.’” (06:09)
“When you’re a local investor and you’re able to look them in the eye, talk to them, communicate with them, there’s a greater interpersonal need for that. And affordability is where small investors can actually help the most and have been helping.” (33:12)
“The divestment that we’re going to see and continue to see in some of these overregulated markets is going to continue to escalate.” (35:00)
“One’s very profitable, non-regulated, lets the marketplace work, lets investment work, and lets people actually make their own decisions. And, let’s face it, that’s a heck of an incentive if I’m out selling a widget and nobody wants to buy my widget. I better improve my widget to make it better. It’s the same for housing.” (35:21)
“Constituents drive legislation.” (38:04)
“Most people really are, especially at the local level, just trying to help to do something for their neighborhood.” (44:27)
Tweetable Quotes
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