In this episode of "Real Deal Investing", hosts Jerron Kelley, a seasoned real estate attorney, and Larry Mastropieri, a real estate broker and agent, invite Jay Krigsman, an experienced professional in multifamily and commercial real estate.
Jay shares his background, growing up in New York, and his early experiences working as a cabana boy at a beach club, where he observed the wealth of Wall Street professionals. Intrigued by real estate, he began reading about buying real estate with no money down and got into the industry.
He discusses his journey into commercial real estate, including his internship with a tenant representation firm and eventually moving to California. Jay shares how he transitioned from trading in the stock market to investing in real estate due to market uncertainties. He focused on commercial real estate, avoiding single-family homes, and emphasized the importance of cash flow over market appreciation. He also mentions the significance of investing in larger deals to reduce competition.
Jay also emphasizes the value of investing in multifamily properties over single-family homes, particularly in the context of value-added improvements. He highlights the challenges of flipping single-family homes and how it's considered more of a job than an investment due to the income tax implications.
A key point highlighted is the value-add strategy in real estate investment. Jay uses an example of renovating a unit within a multifamily property. By investing $15,000 into the renovation, he can raise the rent by $400 per month, which translates to a substantial increase in property value based on capitalization rates. This value-add approach is presented as a lucrative way to enhance property returns.
Jay also discusses the credibility and reputation of landlords, and explains how building trust with tenants and maintaining integrity can lead to successful real estate investments. He also stresses the importance of delivering on promises and the positive impact it can have on attracting and retaining tenants.
Overall, Jay Krigsman underscores the importance of property management, integrity, and strategic value-add investments in real estate. He also addresses the challenges and opportunities present in the ever-evolving real estate market.
#realestateinvesting #realdealinvesting #jaykrigsman #expertadvice #floridarealesate #realestate
Connect with Jerron: Jerron Kelley, Esq. www.kelleygrantlaw.com
Connect with Larry: Larry Mastropieri https://www.DiscoverSouthFlorida.com
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