On Thursday I spent 45 minutes on the phone with one of my mentors in the world of commercial real estate, a guy by the name of Bill Shopoff (shopoff.com). As many of you know, Bill is a major player in the world of commercial real estate who has literally done over $1 BILLION of deals.
We were talking about getting together in California later this month when we jointly hold the Level Three Wealth Workshop in Orange County on June 26th-27th-28th (Bill will be participating in the event.) Location: Hyatt Regency Hotel in Orange County CA.
We started getting into what the best opportunities were for today’s economic conditions, and what some of the worst selections would be when I stopped him—and asked him to join me for a 75 minute webinar on this topic for all our clients. He agreed!
So Save the Date!
On June 18th at 6pm Pacific/ 9pm Eastern I’ll be grilling Bill about his take on our current investment climate. Make sure you add this to your calendar now. I’ll get you the “registration link” on Monday or Tuesday (make sure you jump right on it because last time we hosted a call with Bill 5 months ago, over 400 people registered in the first 48 hours, and the webinar system can only hold 500 people TOTAL!)
Here’s a couple of the gems that Bill shared with me that I’ll ask him more about on the webinar:
1. Coming meltdown in commercial real estate world. We talked about why this was going to happen and most importantly—what this means for YOU as an investor. (Hint: Opportunity.) For those of you who own commercial real estate, you need to process this information and create your own personal strategy to ride out the market.
2. Opportunity in discounted mortgages. Bill is doing this in a big way—raising several hundred million dollars (maybe as much as 1-2 BILLION) to by distressed debt from banks who must get it off their balance sheets, and then holding the debt for income.
Lesson here: One person’s “Toxic Asset” is another person’s great PRI (passive residual income) investment… the difference? The financial condition of the owner of that debt and the ability to better assess it’s real value—which in turn lets the new owner buy at a steep enough discount that the yield is very attractive.
3. Now is a time to be excited about investing, not scared. But as Bill shared with me, you’ve got to understand that this is a time when most investors are operating out of fear.
So how do you invest when over the past 24 months you might have really taken it on the chin? What allows you to shift your mindset to move forward versus getting stuck in the past? A big part of building wealth is about your fortitude to regroup, retool, and start again after suffering some investing reversals.