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Millionaire Mindcast

The Craziest Commercial Deal Of My Career and 5 Learning Lessons To Make You A Better Investor | Wise Investor Segment

Millionaire Mindcast

Matt Aitchison Media, Inc

Productivity, Stocks, Realestate, Lifestyle, Finance, Commercialrealestateinvesting, Personalgrowth, Entrepreneur, Business, Entrepreneurship, Rich, Mastermind, Money, Personalfinance, Millionaire, Mentorship, Realestateinvesting, Success, Mentor, Wealth, Investing, Millennials

4.4716 Ratings

🗓️ 11 October 2024

⏱️ 24 minutes

🧾️ Download transcript

Summary

In this powerful episode of the Wise Investor Segment, our host Matty A. delivers a crucial message for anyone looking to thrive amidst the upcoming season of hardship, chaos, and life-changing opportunities. Matty A. shares the craziest deal of his career and the 5 learning lessons to make you a better investor! Tune in for an inspiring and transformative discussion that will prepare you to face the future with confidence and clarity.

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Transcript

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0:00.0

What up wise investor fam. It has been an insane last few weeks, honestly full of a lot of highs and lows.

0:13.2

I don't know if anybody else is riding the waves this year. But it's been a great year,

0:19.1

but it's also been a kind of a weird year. It's been a challenging

0:21.7

year. And, you know, from an investment front, uh, feels like, you know, I've stepped into

0:28.9

the batter's box a lot of times this year. And I've struck out a lot of times this year.

0:36.5

You know, I'm not going to lie, I've landed one really great deal this year that I was

0:41.4

extremely happy about my 70,000 square foot shopping center.

0:45.8

That one is shaping up to kind of not only be a home run, but I think a grand slam.

0:51.4

Maybe I can give you guys a quick little update there.

0:53.4

As many of you know, I was presented

0:56.7

with a property earlier this year on a 70,000 square foot shopping center in Oklahoma. They had been

1:02.0

marketing it. Two sisters inherited it from their father who had owned it for maybe 30 or 40 years,

1:06.8

and they had been marketing it at 40 or 50% occupancy at like a three cap.

1:15.7

And if you're familiar with, you know, how egregious of an ask that is for the volatility

1:21.9

and, you know, current status of that property, there's no reason why it wasn't going to sell because obviously

1:30.3

the income and the lift on that thing was the income not as substantial as it should be,

1:35.5

you know, it should be more of like a 10-11 cap and it needed a pretty significant amount of

1:41.3

renovations put into it. But for the size of it and just the overall

1:45.4

you know, replacement cost value of that asset, you know, they're probably right on par for where

1:52.1

that asset was at, which was they were asking 2.975 or something like that. It had been brought to me at, you know, hey, I think you can get this

2:02.2

for a 192 maybe. You know, I think these sisters are ready to let it go. I didn't really want

2:07.4

to invest in Oklahoma. I did think it was a good opportunity, though. And I just said, you know what,

...

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