#59: Investment Real Estate with a Closer:

Path to Progress with Paul Heintzman and John Ackerman

Chip Ridge, President of Millennial Title, teaches us the ins and outs of investment real estate.

Some questions answered in this episode (as always, any views expressed in this episode are personal opinions - do your research and consult a professional before investing in real estate):

• What is title insurance?
• Why did you start Millennial Title?
• What are the different objectives you can achieve with investment real estate (cash flow vs. asset accumulation)?
• Why should somebody invest in real estate?
• What are some of the major factors to consider before investing in real estate?
• Would you rather invest in a commercial, single-family, or multi-family property?
• What mistakes has Chip made while investing in real estate?
• What is the expected time-frame you should expect to hold an investment property?
• Is it hard to find a good real estate deal right now?
• How long does it take to find a good deal?
• Does the current market remind you of the 2007 bubble?
• What is the most important factor in making money in real estate?
• What are characteristics of properties you wouldn't touch?
• What are the biggest benefits of investment real estate?
• Why is leverage so important with investment real estate?
• What are the tax benefits of investment real estate?
• Who should you rely on when you begin investing in real estate?
• Should people manage their own properties or hire a management company?
• What are characteristics of home-run properties?
• How do you sell a company?

Last call:

• What advice would you give to your 22 year old self?
  • Live life in the moment.
• What is your definition of success?
  • Being a mentor and a steward, and being thoughtful every day.
  • Chip is currently undergoing a project called "Block Change" to promote homeownership in communities that traditionally have third party housing.
• What advice would you give to somebody just starting a business?
  • Surround yourself with a strong group.
• What's the best thing you've spent money on in the last six months?
  • His childrens' education.
• What book/documentary would you recommend?
  • Malcolm Gladwell - The Tipping Point
• What's your favorite thing to drink?
  • Sol
  • Lagunitas

Shoutouts:

• Wolf's Ridge Brewing
• Columbus Brewing

Enjoyed this episode? Feel free to connect with Chip on LinkedIn or at [e-mail].

Have any topics you want to be covered or amazing people you’d like us to interview? Let us know! You can email us at [e-mail]. You can also find us on Facebook, Instagram, Twitter, and Linkedin. Please be sure to subscribe to our weekly mailing list at drunkenmoney.com/subscribe.