building a real estate team

Real Estate Is a Team Sport by John Carney: BOOK REVIEW

Just wrapped up Real Estate Is a Team Sport by John Carney.

Here are my overall thoughts:

It’s a great book for investors just starting out or who haven’t purchased their first property. The book is structured so that it describes each of the 9 team members you’ll need to be successful. The author, who is a Best Ever Guest (hear is Best Ever advice here) is originally from the United States but has lived in Australia for many years so there’s a heavy slant towards investing in Australia in the book. However, tips and most of the team members he mentions are applicable in both countries.

Perhaps the most valuable aspect of the book is at the end of every chapter John summarizes the key points and in most cases gives you things to watch out for and questions to ask the prospective team member.

My 3 Takeaways from the book:

  1. Active management of your properties is required to be successful. On page 18 he compares the constantly check-ins on a property to the constant check-ins and maintenance you have to do on your car. You wouldn’t just buy a car then not fill it with gas, right?? Right. Same goes with your properties. You’ve got to constantly be vigilant when overseeing the mgmt. even if there’s a property mgmt. company involved.
  2. A couple questions to ask accountants when determining if they will be on your team:
    1. How many properties do you own?
    2. How do you help your clients profit?
  3. On page 136, John lists out the two must have characteristics that you should have in a partner. They are:
    1. Shared values
    2. A skillset that you don’t possess

You can buy the book here:

Hope this is your best day ever,


How to Win in Commercial Real Estate Investing

How to Win in Commercial Real Estate Investing by Craig Coppola: BOOK REVIEW

I just wrapped Craig Coppola’s book, How to Win in Commercial Real Estate Investing and have listed my top 5 takeaways below.

And, if you want to hear Craig’s best real estate investing advice EVER then check out my interview with him here:

Top 5 Takeaways from How to Win in Commercial Real Estate Investing

1. Be a LOCAL expert. Identify a neighborhood or submarket then make a list of properties you want in that area. Run the #s on them and track their progress. Make offers on those properties when it makes sense.

  • Craig even applied this method when buying his own home. He knew the specific neighborhood he wanted, the house MUST haves and then narrowed it down to a list of just a handful of homes. He then went door-to-door (with his kids) and gave a letter to homeowner saying he wants to buy their house so he can move in with his family.

2. Use the T-Bar. It’s taught by CCIM (Certified Commercial Investment Member) and helps show returns in a simple way. (see picture below)

3. Don’t just set your goals. Track, monitor and adjust your goals. Do it on a weekly basis, at minimum.

4. In market cycles, residential is always the first to decline and first to rebound. Multifamily follows a little later then retail and commercial.

5. When evaluating deals, the focus is on understanding the potential opportunity then minimize risk.

If you are entering commercial real estate for the first time then I recommend this book because it’s a good overview of the terms and will help you get going. If you want to invest in Office buildings you should DEFINITELY read this book and write a note to Craig to introduce yourself because he’s an Office expert and this book does have a slant towards Office.

You can buy his book on Amazon here:

P.S. one other thing it inspired me to do is talk to appraisers. They know the market and we should take them to lunch tomorrow!

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