Michael You specialized in molecular and cell biology on his way to becoming a doctor when he discovered that his true calling was real estate. He now works for a commercial real estate developer in the East Bay. Currently, he’s focused on creating new housing in one of the most unaffordable markets in the world using California’s ADU laws.
In today’s episode, Mark and Michael sit down to discuss development, ADU’s, and creative strategies to be successful in rent-controlled markets.
What You’ll Learn In Today’s Episode:
- Add value! Multifamily Real Estate, one of the most solid long-term investments, also gives you the opportunity to actively, personally, add value to your investments. So take it. Look for ways to improve the property, and improve operations. Add revenue streams by installing laundry rooms, providing amenities, reducing and consolidating expenses, and adding ADU’s.
- Don’t think you need to quit your job in order to invest in real estate. Michael has a full-time job, so does Mark. Organize, and you can do both. Most gurus pitch the ‘quit your job’ route because that’s the dream and that gets you on the hook, but the truth is it’s a lot easier to get into real estate using W2 income.
- Believe in yourself. Don’t believe it will be easy, but believe you can successfully overcome all obstacles and come out stronger and better on the other side. There’s power in believing that you can do difficult things. Do this, and real estate will be a cakewalk.
“The cycle of a typical development can take, on minimum, up to 5 years. With these ADU’s, cities are supposed to process these applications within 60 days.” – Michael You
Resources In Today’s Episode:
Books Mentioned In Today’s Podcast
- The Baby Book by Dr. Sears
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