Look at your Neighborhood and Beyond the Cap Rates with Alex Olson

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Alex Olson is a senior real estate broker. In this episode, he shares his insights on real estate as a wealth-building tool. He explains that when you look at your taxes after you've taken depreciation into account, real estate can be a very effective way to lower your tax burden. Alex also discusses the importance of networking and how it can help you become successful in the real estate business.

[00:01 - 03:28] Opening Segment

Alex shares his background in real estate and how he has been helping people find properties.
The importance of working with a knowledgeable real estate agent to help buyers find properties

[03:29 - 14:08] The Key is Preparedness and Setting Up the Plan B

Be prepared for a lot of stress and have a plan for what to do if things don't go as planned.
Everybody starts off with what they want, which is often unrealistic and not in line with what the market is providing.
Besides cap rates, factors such as cash flow, purchase price, and how much money will be put down should also be considered.

[14:09 - 22:59] Optimizing Real Estate as a Wealth-Building Tool

Like-minded individuals can successfully invest in real estate together.
To find properties that are good investments, it is important to have a clear understanding of the local market and what type of property is being sought.
Alex shares the joy of seeing property progress over time and how it can build wealth without the buyer even knowing.

[23:00 - 31:16] THE FINAL FOUR

What is the worst job you ever had?
- Castrating hogs
What’s a book that you’ve read that’s given you a paradigm shift?
- Am I Being Too Subtle? by Sam Zell
What’s a skill or talent that you would like to learn?
- How to become a movie scriptwriter
What does success mean to you?
- Independence from taking risks

Connect with Alex
Linkedin: www.linkedin.com/in/aolson
Website: https://www.biggerpockets.com/users/hardworkinvesto

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Tweetable Quotes:

“Our main focus, of course, is multifamily. Why? Because that's what everybody wants and everybody knows it does well in the market.” - Alex Olson

“It all starts with the idea, and that's it. Once you have