Avi Krainer - Summary - Post 6
Entrepreneur of the Week Avi Krainer
# Post 6 - Summary
Wow crazy week. One of the best in my life. Hope you enjoyed. I am very.
Thanks to everyone for the heartwarming comments and likes. You moved me a lot!
So how do you end and sum up such an intense week? I have many more things to write and say, but I actually thought of closing a circle in the discussion on economic freedom.
In the first post I talked about economic freedom. Anyone who wants to move towards economic freedom or a significant improvement in cash flow needs to have strategy and focus. Does it focus on flips, rentals, multi-family, AirBNB or any other real estate strategy.
When it comes to examining whether a deal is “good” for me, one has to look at three key parameters:
1. Is the deal in line with my business plan and strategy?
2. Do I understand the deal? (Experience in similar transactions, meanings, risks, taxation, exit strategy)
3. Did I thoroughly check the parameters of the transaction? Or did I do what Robert Schmin says: Verify, Verify, Verify?
Even if we invest, and certainly if we are entrepreneurs, we must understand what we do, to whom and for what we give our best money. Otherwise we are no different from gamblers at the stock market or the casino. And even if we understand the deal, we need to make sure it fits our strategy, and our use of money and time is effective (goal-oriented).
Every investor or entrepreneur who aspires to economic freedom should build a long-term strategic business plan based on the SMART model - Specific, Measurable, Attainable, Relevant, Time Bound. And in Hebrew a specific plan, measurable (dollars), achievable (though worth aiming high), relevant and limited in time.
Real estate is a business for everything, and a business that has no purpose and a regular business plan will not go far. We are inundated with "investment opportunities" and it is important that we have a good lighthouse, so that we can focus and reach a safe shore.
And after there is a plan, work according to the IDF's first war principle - adherence to a mission in light of the goal. Any project or opportunity, even if we understand it very well and have double-checked, if it does not fit into our business plan, just give it up. If my strategy is to accumulate income-producing assets and an amazing investment opportunity has come in an investment fund. Is it worth it? What if in the meantime property prices rise in the next three years when the fund is redeemed? I did not gain or advance.
Amit and I sit down at least once a month to discuss the plan, and in the dialogue between us every deal is always examined “in light of the goal”, in light of the cash flow and market situation (which has recently changed morning news…).
And if you are an investor, who wants to be "passive", you will pay a price for the passivity if you want to invest in the long run. You should be involved and understand what is going on in your investments. Our development in the real estate world is a "muscle" that needs to be developed. You should develop this muscle to be prepared for the opportunities that will come (as the common definition of "luck" - "when readiness meets opportunity") and also along with the amazing opportunities, there are also many dangers in the real estate way and you should come with a trained muscle to face the challenges. Economic freedom…
And a little about us:
We specialize in acquiring income-producing properties in Cincinnati, Ohio (Rentals) below market price, in developing areas, with potential for improvement. We build a portfolio of assets and use, in addition to our sources, a number of investors in the loan model.
Now that we have built a solid infrastructure for creating a portfolio of income-producing assets, in 2021 we plan to open another area of improvement and sale activity.
Feel free to contact me in private on any topic related to real estate investing in the US, personal development or any other topic that comes to mind as a result of my series of posts. I would love to contribute from my experience.
We are also always open to suggestions and ideas for collaboration.
I want to thank the USA Real Estate Forum for this wonderful platform - Lior, Avi Ben Mordechai and especially Nirit, for not giving up on me ????, thus causing me to go through a process of "publishing" and producing the texts you read in the posts, which are so I enjoyed writing them. Thank you Thank you Thank you!
And of course to thank my dear and beloved wife for the support, empathy and willingness to give me the reins in managing the family investments. it's not taken for granted!
And to the Creator of the world for all the good and abundance we have gained in this life.
In conclusion, I wish us all a good and healthy civic year, that we will have happiness in our work, learn to enjoy the road (because we spend most of our time in it) and that we will reach economic freedom soon in our day!
Pictured below is a photo of Michal and Shelly's honeymoon in Zanzibar… Who will give and turn our lives into one big honeymoon of experiences, successes, self-fulfillment and blessed doing for others!
