In this informative discussion, Charles Dobens shares his insights and experiences in the real estate investment industry. He highlights the importance of timing and strategy when it comes to celebrating success in real estate deals. By debunking the misconception of celebrating at the time of property acquisition, Charles emphasizes the significance of realizing profits and achieving successful conversions.

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Celebrating Real Estate Profits at the Right Time

Charles Dobens, a seasoned real estate investor and expert, shares valuable insights in this enlightening discussion. Reflecting on his journey, Charles emphasizes the crucial mindset real estate investors should adopt when approaching deals. He recounts the common practice of celebrating property acquisitions with grand dinners and champagne, only to stress that true profit realization happens at the sale.

Drawing from recent experiences, Charles recounts observing novice multifamily investors celebrating prematurely on a Facebook page. He emphasizes the importance of focusing on profit realization rather than immediate celebrations. As Charles ventures into the current landscape of acquiring hotels for conversion into apartments, he unveils a unique deal structure devoid of acquisition fees, preferred returns, or asset management fees.

Charles underscores the significance of reinvesting all funds into the property to expedite the transformation into multifamily units. The true celebration, he asserts, occurs when the renovations are completed, the property is converted into a different asset class, and substantial profits are realized. With a strategic focus on easy conversions rather than heavy lifts, Charles anticipates rapid turnarounds, potentially as short as 12 to 18 months.

Looking ahead, Charles contemplates creating merchandise with the slogan 'Don't pop the champagne." It's just a reminder that you haven't made new money yet. Time to get to work. He concludes with a reminder to celebrate when the property is purchased, emphasizing the need to transition swiftly from acquisition to diligent work.

Check out Charles' MultifamilyOS™ Business Builder Program HERE

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