In today’s episode, Luna is joined by Anish Dave. He is CEO of Broward Real Estate Investors Association, Miami Dade Real Estate Investors Association and part of the Chapters of the National REIA. Anish has been working in the mortgage and real estate business for 20 years, operating with the belief that people come first. He joins us today to discuss the current market, advice for new investors and how real estate changed his life.
With the current climate, the market is suffering in some areas. Anish has seen that locally, many Airbnbs are struggling and looking to liquidate. 4,000,000 people are struggling to make mortgage payments. Comparing this to the economic crash of 2007, it took two years for those numbers to reach 2,000,000. COVID-19 has exceeded that in eight weeks.
Despite this, there is still opportunity for investment. While mom and pop investors may be sidelined, Anish believes that experienced investors can take advantage of opportunities and utilize their influence to create deals. While some are waiting on investing, Anish says there has been an increase in buy and hold deals. Cash flow is key and you must have a plan.
If you are a new investor looking to invest, Anish recommends having capital on hand. Be conservative with your numbers, start with small properties and have a strong exit strategy. Don’t be tempted to hop on the latest bandwagon; really focus and specialize in an area.
Luna and Anish end the podcast by discussing how real estate has changed their lives. In 2007, Anish lost almost everything and had to rebuild from the ground up. Building his real estate business gave him focus and he soon saw profit. Both agree that the key to success is focusing on the needs of others and building your reputation. The referrals are sure to follow.
Find out more about Anish:
www.breia.com
www.miamidadereia.org
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