What We Can Learn From Real Estate Investing to Succeed in Buying Digital Property with Goose McGrath
Resource Links: Buying Online Businesses Website (https://buyingonlinebusinesses.com) Download the Due Diligence Framework (https://buyingonlinebusinesses.com/freeresources/) Investors Club Membership (https://investors.club) The Investor Lab (https://theinvestorlab.com.au/) Dashdot Buyers Agents (https://dashdot.com.au/) Influence: The Psychology of Persuasion by Dr. Robert Cialdini (https://www.amazon.com/Influence-Psychology-Persuasion-Robert-Cialdini/dp/006124189X) What if we start treating websites as parcels of land or establishments? In today’s podcast episode, we have Goose McGrath from The Investor Lab to talk to us about the similarities and differences between digital properties and physical properties, the proper way of investing in properties, and the risks involved in website flipping. Tune in to today’s episode and sneak a peek at the future of digital brokerage. Episode Highlights: Similarities & differences between digital property & physical property [04:14] The role of A.I. in the real estate industry [07:02] External factors that impact market conditions in physical and digital brokerage [09:45] What makes property investing a business [16:03] Why buy or invest in property [18:05] Different horses for different causes [20:44] Three distinct phases in the property journey [21:44] The length of time it takes to get new property [24:51] Don’t leapfrog your way up when investing [26:50] Lessons from the property space on creative financing [30:53] The pitfalls of property buyers [37:51] The importance of building relationships [38:51] Off market deals aren’t always the best [43:25] The risk of short-term investments and flipping [47:54] When is selling a part of your portfolio strategy? [51:27] About Our Guest: Goose McGrath is from Dashdot Buyers Agents, an organisation that specialises in sourcing investment and homeowner properties that are under market value. He also hosts his own podcast, ‘The Investor Lab.’ If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast. You may also leave us a review on anywhere you listen to and share your feedback! Connect with Jaryd Krause of Buying Online Businesses: Follow on Facebook: https://www.facebook.com/JarydKrause1 Subscribe on Youtube: https://www.youtube.com/channel/UCQ3g6G2USlnq7EgnUsajTBw See omnystudio.com/listener for privacy information. See omnystudio.com/listener for privacy information.