CEO of Olerio Homes, Lou Olerio talks about the t-shirt business he started at SMU and how that experience eventually led him to build wealth through commercial real estate. Lou discusses his early experience investing in real estate with Hard Money, he learned valuable lessons by taking action and learning quickly from his mistakes. This year Olerio Homes is scheduled to complete 50 projects, next year his company is projecting to complete 100 plus projects!
Key Terms: Source: Investopedia, CWS Capital Partners
Hard Money: A hard money loan is a type of loan that is secured by real property. Hard money loans are considered loans of "last resort" or short-term bridge loans. These loans are primarily used in real estate transactions, with the lender generally being individuals or companies and not banks.
Capital Gains: Capital gain is an increase in a capital asset's value and is considered to be realized when the asset is sold.
1031 Exchange: A 1031 exchange gets its name from Section 1031 of the U.S. Internal Revenue Code, which allows you to avoid paying capital gains taxes when you sell an investment property and reinvest the proceeds from the sale within certain time limits in a property or properties of like kind and equal or greater value.
Joint Venture: A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity.
Real Estate Investment Trust: A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate. Modeled after mutual funds, REITs pool the capital of numerous investors. This makes it possible for individual investors to earn dividends from real estate investments—without having to buy, manage, or finance any properties themselves.
Subscribe on YouTube: https://www.youtube.com/channel/UCLP-No6R27vLVR1YL2Y5CSQ?sub_confirmation=1
Follow Host Obi Chukwumah: @obi_empowers
Follow Space_&_Equity: @spaceequitycorp
Shop Space_&_Equity Merch: https://spaceequitycorp.com/collections/all