Capital Hacking EP 259: Leverage Technology to Scale in Real Estate + Advice for Today's Changing REI environment with Chad Gallagher
When buying an asset, especially a real estate one, it’s important not just to consider the current state of the economy but to look at the 20-year vision. Today’s guest, Chad Gallagher, helps us analyze where we are at the acquisition of real estate economy. He answers how we evaluate skyrocketing rates and teaches us about building community and analyzing deals and valuations while creating value.
He also explains an expression called ‘buying the real estate versus renting the rate’. In this episode, Josh, John, and Chad talk about the buy now, don’t worry about a 2-year/6-month horizon because these assets that you hold for five to ten years is what will generate your wealth in real estate. But Chad translates this principle into investing in your business and your career. Catch us and hear more about how a tech guy became a real estate investor, owned a management company, scaled them and then created massive funding!
Key Points from This Episode:
- Chad Gallagher’s background in real estate.
- The importance of meeting with your accountant every two months and understanding key accounting and tax rules.
- How did Chad jump into being in Home365 and what happened along his journey?
- Investing in real estate and real estate management.
- Pivoting from technology to real estate.
- Chad talks about how many properties they are managing across the country.
- Chad’s hustle vs. Ashley's hustle.
- The mindset of a real estate investor according to Chad.
- Chad’s strategy for acquiring assets.
- What’s next for Chad?
- Chad shares how they are making syndication investments passive and predictable
- In Chad’s predictions, where does he see the economy going?
- How do new entrants into the asset class increase valuation in real estate rental assets?
- What is the expression ‘Buy the Real Estate and Rent the Rate’?
Tweetables:
“Your accountant should not be this person who you just once a year give a bunch of stuff to. I think that people who really do this right in terms of building wealth, their accountant is one resource.” – Chad Gallagher
“If you can make a bet on tech early on, you don't actually have to be amazing because everything's coming your way.” – Chad Gallagher
“If the goal is to climb Mount Everest in five years, you're not gonna try to climb it in three months. You're gonna realize that you're just kind of building up along the way.” – Chad Gallagher
“I think that people who work hard, they do get the benefit of the doubt as they, as I think they should. I think they learn actually a lot faster because they're in more conversations and then they attract people who are high energy..” – Chad Gallagher
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