Avoid These Common Residential Real Estate Investing Mistakes | Michael Burton – E53

Michael Burton, a private investment analyst at Cobblestone Capital Advisors explores the intricacies of residential real estate investing. He shares his journey from junior year in college to owning multiple rental properties in Rochester, New York, and explains the due diligence required for successful real estate investments. The conversation includes insights into the importance of proper tenant screening, managing maintenance and capital improvements, the significant time commitment required, and the advantages of scaling up the number of rental units. Michael also compares direct property investment with other real estate exposure options such as public REITs and private funds, highlighting the risks and benefits of each. The episode wraps up with personal anecdotes and advice for those considering entering the residential real estate market.

Key Takeaways:

• What are some key considerations and potential risks when investing in residential real estate?

• How can prospective property investors balance between personal involvement and hiring third-party services to manage properties? 

• What are the alternative ways to gain exposure to real estate investments without direct property ownership?

Key Timestamps:

(00:00) - Michael's Journey into Real Estate

(04:07) - The Realities of Property Management

(07:57) - Financial Considerations and Risks

(16:46) - Tenant Management and Property Scale

(19:54) - Alternative Real Estate Investment Options

(28:26) - Leveraging Debt in Real Estate

Key Topics Discussed:

The Trusted Partner, Cobblestone Capital Advisors, Jesse Cramer, Gabe Chodak, Michael Burton, Rochester New York, financial planning, investment management, residential real estate investing, rental property, real estate portfolio, investment portfolio, real estate development, FHA loan, property investment, real estate investment solutions.

Mentions:

LinkedIn: https://www.linkedin.com/in/michael-burton-8b2446183

More of The Trusted Partner:

Website: https://cobblestonecap.com/the-trusted-partner-podcast/

Information presented in this podcast is not intended to be nor should be construed as individualized investment advice. All content is of a general nature and solely for educational, informational and illustrative purposes. Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Opinions of unaffiliated third-parties may not represent those of Cobblestone Capital Advisors or its employees.