s4e54 Local Government and Real Estate Investing with Charles Tassell

Welcome to the Get Traction Podcast, a show aimed at educating aspiring real estate entrepreneurs. Today, Tom welcomes to the podcast Chief Operating Officer (COO) of the National Real Estate Investors Association, Charles Tassell. Charles shares his experience as a commercial real estate investor and political lobbyist. He speaks to best practices and strategies for evaluating neighborhoods, the strategic advantage of buying during a down cycle and the importance of choosing the correct business partner. Charles speaks to the impact that local government can have on real estate investing and the value of getting involved in your community at the local level to bring about positive change.

Key Takeaways

00:40 – Tom introduces today’s guest, Charles Tassell who joins the show to talk about his real estate investment strategies and the work he’s doing as a political lobbyist
05:27 – The strategic advantage of buying during a market down cycle and the importance of choosing the correct business partner
08:55 – Headaches in real estate investment and tenants
13:05 – Best practices for evaluating neighborhoods
16:14 – The process of ‘slow flipping’ properties
20:13 – Advice for those looking to get into commercial real estate
22:50 – Charles speaks to the experiences he’s had with different banks
24:39 – Making the shift from residential to commercial real estate investment
31:41 – Talking politics in real estate
37:35 – The importance of paying attention to local government
39:59 – What the average real estate investor can do to protect themselves
47:19 – Tom thanks Charles for joining the show and let’s listeners know where to follow him

Tweetable Quotes

“I like Warren Buffet’s line, ‘Buy when people are selling and sell when people are buying.’” (06:09)

“When you’re a local investor and you’re able to look them in the eye, talk to them, communicate with them, there’s a greater interpersonal need for that. And affordability is where small investors can actually help the most and have been helping.” (33:12)

“The divestment that we’re going to see and continue to see in some of these overregulated markets is going to continue to escalate.” (35:00)

“One’s very profitable, non-regulated, lets the marketplace work, lets investment work, and lets people actually make their own decisions. And, let’s face it, that’s a heck of an incentive if I’m out selling a widget and nobody wants to buy my widget. I better improve my widget to make it better. It’s the same for housing.” (35:21)

“Constituents drive legislation.” (38:04)

“Most people really are, especially at the local level, just trying to help to do something for their neighborhood.” (44:27)