Principles for Distressed Real Estate Investing & Bouncing Back from 2008 with Jake Harris
In this episode, Jake Harris talks about investing in distressed real estate. He digs into principles he uses to identify distressed real estate opportunities, and mistakes that new distressed real estate investors make. Jake shares his experience as an investor and how we can learn from his experience to be a better and informed investor.
[00:01 – 07:52] Distressed Real Estate Opportunities
- Jake shares about his background and how he got into real estate
- When investing in distressed real estate, there are many pitfalls to consider
- New investors in distressed real estate should prepare for things before they happen
[07:53 – 23:37] Catching Knives and Learning from Mistakes
- Do your homework and research to understand the value of an asset
- It’s a team sport; assemble your “dream team” of people with different skillsets
- Understand fundamentals of the market and consumer confidence
[23:38 – 32:23] Avoiding Mistakes and Utilizing Due Diligence
- Cash flowing assets are a good way to mitigate any market correction or dip in the future
- Low interest rate debt can be an asset
- When investing in distress real estate always do due diligence
[32:23 – 39:35] Closing Segment
- Quick break for our sponsors
- The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at escapingwallstreet.com
- What is the best investment you’ve ever made other than your education?
- People who help him in his business
- Jake Harris’s worst investments
- Limiting beliefs
- What is the most important lesson you’ve learned in business and investing?
- embracing your unlimited nature
Connect with Jake Harris:
Website: https://www.catchknives.com/
Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/
Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.
Join our Passive Investor Club for access to passive commercial real estate investment opportunities.
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Tweetable Quotes:
“Embrace your unlimited nature and you can do impossible things.” – Jake Harris
About our Guest
Jake Harris
Jake Harris is the co-founder of Harris Bay. In 2003, Mr. Harris was involved in commercial construction as an estimator, superintendent, and later project manager. He was running millions of dollars of commercial property retrofits for clients including Equity Office Properties (EOP) in the Sacramento region and San Francisco Bay Area. He managed first hand the value added process of acquiring below-market properties to re-position them with cost-effective remodels.
