Jon Steingraber
speaker
128 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Jon Steingraber’s voice in public audio — every appearance, attributed to the second.
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The MORE Show · How This Investor Flips Houses in Just 24 Hours | Jon Steingraber · 21 Feb 2025
podcast
Right. So we have that kind of benefit in Jersey that we get the overflow from New York. Um, and Miami is like, you know, it's like New York, but with nice weather and more expensive real estate.
I mean, I'm blown away by Miami and, and there's a lot of opportunity here as well. I just, I've always been the type of person that you can track the space. If you can hit your goals in one geographic area. Your life will be easier if you focus and know everything there is to know. And you know that area like the back of your hand. Yeah.
That's just, you know, and that's why I like my coaching programs only in Jersey.
Right. I have people are like, oh, in California, can you coach me? I'm like, look, I give my coaching students contractor resources. You know, we go to people's properties. It's very intimate. It's very sure. It's not like a scaled program. Yeah. Right. So it's that's why we just focus in on that geographic area.
It's very localized real estate. Of course. And if you, but you have people on the ground too, in those geographic areas that you're typically like partnering with. So it's a little bit different.
I don't like to partner with people.
Cause I don't know if they did their tax returns or not. Exactly. And we go to sell the house and now we got to pay their tax bill.
Which has actually happened to me before.
Yeah. Yeah. So I try to keep it as simple as possible. But, you know, when you're doing business, you just need to decide on, you know, you can make money in any area. It doesn't matter if it's low end, if it's high end, if it's one area or nationwide. Like, I'll look at anything nationwide if it's commercial. Because it's strictly based on cap rate, which is easy to find.
And it's based on the numbers of the income and the expenses of the property, right? You're just coming up with the NOI and dividing it by cap rate. That's the value. And you want to get it cheaper than that and see if there's any value add or upside to it. So, you know, with those type of properties, it's different. In single family construction and flips...
I feel like you definitely need somebody boots on the ground that's going to understand that municipality and all the little quirks from that area. Across the street, it could be a totally different school district, right? And that school district is less desirable.
There could be negative stigmas in that area, external factors that you really can't control that you wouldn't know if you weren't there locally.
Yep. Two people can buy the same house, and one guy hires the wrong contractor, the other guy hires the right one. One guy makes money, the other guy loses money.
And I feel like construction is going to go up in price now. For sure. Because a lot of people that are, you know, undocumented are in the construction business, at least in New Jersey. Sure. I speak fluent Spanish. My mom was born in Uruguay. You know, she immigrated here.
So, you know, I kind of have an advantage that I speak fluent Spanish and, you know, but a lot of our guys, you know, that are contractors, you know, they're licensed, they're insured, et cetera. But then for them to get the laborers that work, I mean, you know, I don't ask if they're documented, but I don't think a lot of them are. Yeah. That's right. Right.
So, you know, is that going to put pressure on the construction industry, making it even more expensive?
It's things that people need to think about. That's right. Right. And you need to, you know, you need to know that trades people, there's less and less of them. And the ones that have been around for a long time, they're not being replaced. Right.
right they say if you want to make if you want to become a millionaire don't you know don't go to college become a plumber right become an electrician why because there's going to be so much demand for trades and i don't know if ai and robotics and everything is gonna that's not the first place that you know all that stuff's going to disrupt that's right you know it's going to be everything behind a computer and maybe like menial tasks but not not necessarily plumbing and electricians not to take us too far off the course here as we're wrapping up but like what about all these uh
Yeah. Yeah. I mean, that's great, but you still need to, you still need to build out the internal.
Think about all the framers. I think it's great. I mean, look, if you're an entrepreneur and you could cut costs and that's a profit destroyer, then you'll be good. There's always going to be people in situations that need to sell their home. And that's what's important. If you're going to get good at one thing, if you're going to get good at one thing, get good at finding deals.
Showing 101–120 of 128 · page 6 of 7
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