Expert advice for building wealth through real estate
With interest rates at record lows and stock prices near record highs, I know many of you are looking for other places to put your money — and rental property is one of the alternatives you're considering.
So I decided to seek some expert advice about becoming a landlord from Eric Sussman, who teaches accounting and real estate at UCLA's Anderson School of Management.
Sussman (that's him on the left) has been voted Teacher of the Year 12 times by Anderson’s MBA students and named one of the nation's Ten Most Popular Business School Professors by Businessweek magazine.
When he's not in class, he's running four real estate investment companies and funds that have bought, rehabilitated, developed and managed over 2 million square feet of residential and commercial real estate over the past 18 years.
The firms' current portfolio of industrial, multifamily residential and retail properties includes 1,800 residential units.
That makes Sussman a guy with some skin in the game and years of experience at turning a profit from investment property.
Should you jump in too? And if so, what are the cash-draining pitfalls you've got to avoid?
Hear what Eric Sussman has to say about that in the first part of our discussion …
You'll find more advice on how to get started in the second half …
Click here to read a transcript of my conversation with Eric Sussman.