Extreme Long Distance Real Estate Investing with Daniel Mills
- E65
- 47:50
- July 6th 2021
Join Vince and Duc as they chat with Daniel Mills and discuss how he makes it all possible with people relations and property management, even as an investor working from extreme miles away.
From BiggerPockets, Daniel formed a partnership with a commercial lender and a real estate attorney who he works with on multiple properties up until today. He is currently in Japan. Aside from his team's technical field expertise, Daniel leverages his 'kanban musume' or poster girl persona to consistently attract people into projects.
Today, we listen to Daniel as he speaks about tax advantages, market analysis, the importance of relationship-building in real estate investing, and the boon and bane of being a long-distance real estate investor. There's a lot to unpack, so stay tuned and enjoy the episode!
Outline of the episode:
● [01:47] The Book, The Complete Idiot's Guide to Getting Rich; Utilizing time freedom to open more opportunities
● [04:46] On forming the roles and responsibilities within the partnership
● [06:53] When you're investing long-distance, partner with the locals!
● [12:45] Japan's Tax Policy: Write off income from depreciation
● [17:21] Portfolio management and risk assessment amid the pandemic
● [20:18] "What drove me to not be a syndicator."
● [25:43] Lessons from passive and active investments
● [30:22] The obstacles attached to being an extreme long-distance investor
● [34:46] On not starting young and the vitality of market analysis to investing
● [38:03] A testament to the importance of an intelligent market choice
● [40:15] "This business is all about people…."
● [42:10] The general misconception towards syndication
Resources:
● The Complete Idiot's Guide to Getting Rich, Book by Stewart H. Welch III
● The Millionaire Real Estate Investor, Book by Gary Keller
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The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com