E267 Tom Burns - The Required Mindset of Successfully Navigating This Market Cycle
We will never get rid of fear; we will learn how to manage it, overcome it, and use it as a tool. In this episode, our guest Tom Burns will enlighten listeners to go beyond their fears and assess the key components of being a successful real estate investor.
Listen as Tom explains why it is essential to navigate the significant components of what’s happening right now, how you can leverage your fear, and how you can better understand the market-level fear. He also talked about all active and potential development opportunities as well as the perfect components in finding the right person to create deals with so tune in now!
Key Points from This Episode:
Tom talks about the disconnection between the rise in the interest rate and the cap rates.
What type of multifamily pricing has existed in the past few months?
Tom shares about the fear components of investing and the breakthroughs on the other side of fear.
Why does Tom feel more fearful when investing somebody else’s money than to his?
How to anticipate navigating the market cycle and what to embody
Tom shares about reassessing pipeline trimming opportunities: Are those active opportunities or considerations for acquisition for new development?
How to evaluate the time horizon for some of the potential development opportunities
Tom talks about the components that allow people to be nimble to take advantage of those opportunities and to make sure they are not taking inappropriate risks.
Humility: what exactly about this trait that creates a successful long-term investor and how you can further develop yours.
What are the key components that allowed Tom to be successful?
What are the perfect components in finding partners in creating deals?
Difference between the right money and the right people, and the wrong money and the wrong people
Why raising capital is not a sale
Tom talks about the Rich Life mastermind
Tweetables:
“Courage is just fear overcome.” – Tom Burns.
“And perhaps, we get to the point where the pendulum swings and there's almost too much fear, which then creates those opportunities. ” —Tyler Chesser
“That just because the result was good, doesn't mean that all of our decisions along the way were optimal “ - Tyler Chesser
“Revenge is just an empty box. But you wanna move forward. And moving forward sometimes has required us to swallow our pride and just move on.” -Anonymous
“We overestimate what we can do in a year. We underestimate what we can do in 10 years and they wanna get started right away with how do I grow a big group to raise money.” — Bill Gates
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Brought to You By CF Capital
This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.
If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team.
You’re invited to reach out and learn how you can invest with us by visiting cfcapllc.com.
We’re also currently offering a free ebook called The Bottom Line - 10 Ways to Increase Cash Flow in an Apartment Complex. Whether you’re a new or an experienced investor, we’re confident you’ll find massive value in this resource. Get your free copy today at cfcapllc.com.