Want to give Tiege Hanley a try? Learn more & claim your offer at http://tiege.com/ytvlog241
➤ Watch our new video on the topic of “How to Grow a Beard – Tips for Beginners” at https://youtu.be/6T_qwRvv16M
00:00 Aaron’s First Real Estate Investment
Aaron stands outside the office space he bought 5 years ago when he decided to expand the Pete & Pedro business. Right next door is a connected building that was previously owned by the bank. He wound up buying the adjacent building, invested some money in it, and now he rents it out to a wealth management company.
02:11 The First Piece of Real Estate Investment Advice
Aaron says the first thing to know is “don’t buy a historic, old, dilapidated building.” It’s funny, because that’s exactly what he did with this old church he bought. He thought he was prepared for it, but it turns out there were several things the building inspector didn’t catch that he wound up having to deal with.
03:28 Aaron Takes a Call from Tiege Hanley CEO, Kelley Thornton
Kelley and Aaron indicate there’s some really big and exciting things coming in the near future for Tiege Hanley. The team is already discussing Black Friday/Cyber Monday and it sounds like there’s some brand new Tiege Hanley products on the horizon that will be ready in time for the sale.
05:00 Check Out the Old Church
Aaron invites you inside his new real estate investment, an old church. The masons are on site today doing a lot of brick work, including arches around the windows. He recently purchased all the furniture for the site, too. He explains he had help from an amazing designer when it comes to the interior decorating.
08:23 The First Place to Invest Your Extra Cash
Aaron explains everything he’s about to say about real estate investing is his own personal opinion and not necessarily a documented fact in a textbook. When it comes to investing extra cash, it makes a lot of sense to invest it back into your business. That’s the first place Aaron invests his extra cash. Cash flow is a hard thing to manage for new entrepreneurs.
09:50 The Second Place to Invest Your Extra Cash
Aaron says the second place he likes to invest his money is real estate. He doesn’t flip homes or rent homes or anything like that, but he says it’s not a bad idea and has a low barrier to entry. Commercial properties are a little bit trickier to get into. You need more skin in the game, i.e. more cash and better credit.
14:09 The Downside to Investing in Real Estate
Aarons says the downside to real estate is the down payment. That can be expensive depending on the asset and the mortgage you get. Back when the economy tanked in 2008, a lot of people were super over-leveraged. All those people had to give their assets back to the bank when they ran out of money. On the flip side, if you were someone who had some money in the bank, you could get an incredible deal on those bank-owned assets.
15:28 Real Estate Can Lose Value and Taxes Still Suck
You need to be aware that your real estate investment can lose value depending on the economy and the market. When everything is good, your investment will gain value, which is great, but life isn’t always good, unfortunately. The second thing to be aware of is the impact of taxes. The more real estate you own, the more taxes you owe. You should consider the property taxes before you rent a property.
17:55 Question: Why doesn’t Pete and Pedro offer free domestic shipping for orders under $60? -Kader Awad
Answer: We did the math, and that’s the decision we made. Shipping is expensive, even with the $5 fee. Shipping will always be your number 1 or number 2 expense.
19:37 Question: Why do you post these videos under the Tiege Hanley channel, wouldn’t creating a Finance/Advice kind of channel benefit you more in terms of views, branding, etc? -Naman Jain
Answer: The reason we started the Tiege Hanley vlog was to let you in on our journey. The vlog has evolved over the years. It’s not about the views though, it’s about the value.
20:21 Question: Do you think it’s necessary for a company to keep telling us about their stances on social issues? -Mohammed Abdulmohsen
Answer: No, it’s not!
WATCH MORE VIDEOS
➤ Aaron Marino’s “Starting a Business + Building a Brand” vlog – http://tiege.com/tiegehanleyvlog
➤ Educational videos about a variety of men’s topics – http://tiege.com/tiegehanlyedu
➤ Tiege Hanely product videos – http://tiege.com/tiegehanleyproducts
➤ Facebook – https://facebook.com/tiegehanley
➤ Instagram – https://instagram.com/tiegehanley/
➤ TikTok – https://tiktok.com/@tiegehanley
➤ Twitter – https://twitter.com/tiegehanley
➤ Pinterest – https://www.pinterest.com/tiegehanley
#TiegeHanley #RealEstateInvesting #InvestingTips