Real Estate Titans by Erez Cohen

Pg 10 Macro bets in real estate tend to be cyclical bets about timing, which means that you need to be able to make micro bets to generate excess returns when markets are in equilibrium

Pg 17 With every single deal, and I cant stress this enough, its better to seek for a smaller downside than a bigger upside

Pg 41 Personal guarantees (recourse debt) are something that you should agree to only if you have virtually nothing to lose. In other words, you should never agree to obtain recourse debt. We have used guarantee corporations and subsequently business asset guarantees to satisfy lenders and investors

Pg 70 At the beginning of your real estate career, focus on areas of innovation; learn about new construction methods, architecture, and sales and leasing. Build a business that you can be proud of. Understand as much as you can about the way the market is shifting, the way people are looking for different types of working and living spaces, and how different pieces of technology can change everything

Pg 155 Disneyland is 100 acres large and receives 18mm visitors a year. The Grove is 25 acres and receives 19mm visitors a year.

Pg 231 Theres a certain point where we have enough info to make an educated decision, even though we dont have absolute knowledge. We will never reach this point because no one knows what the future holds, and there is no such thing as perfection. Its not your ability to predict what will come next that guarantees success, its you ability to adapt when it comes

Pg 232 The avg person thinks real estate is just about knowledge and hitting the books and learning about cap rates, and then you can start making money. The truth is that success in the real estate profession often boils down to the conclusions you draw after you have analyzed and digested all of the data

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