The Rich Somers Report What Not to Buy if You Want to Make Money in Real Estate | Mikey Taylor E374
Jul 19, 2025
In this discussion, investor Mikey Taylor shares his insights on avoiding common real estate pitfalls. He explains why high-rise condos can be a bad investment and dispels the myth that renting is simply throwing money away. Mikey highlights how the current interest rates are shaping homeowner decisions and emphasizes the importance of cash flow versus traditional views on building wealth. This conversation is a must-listen for anyone looking to shift their mindset from homeowner to savvy investor.
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Avoid High-Rise Condo Investments
- Avoid investing in high-rise condos due to rising HOA fees and decreasing buyer interest.
- Single-family homes typically appreciate more significantly in value over time compared to condos.
Housing Market Resilience Explained
- The housing market's resilience during high rates shows strong supply-demand fundamentals.
- A significant housing shortage exists, worsened by unlivable homes and slowed new builds, favoring long-term investors.
Low Rates Lock Homeowners In
- Many homeowners hold onto low-rate mortgages, reducing supply despite rising rates.
- This creates a new generation of investors focusing on rentals and long-term wealth building.