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Episode 95

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Published on:

22nd Jan 2024

What I Learned (DJ McClure)

In this reflective episode of Passive Wealth Principles, Jake Harris revisits the enlightening conversation he had with DJ McClure, a national flood expert. Jake shares his learnings about how property owners can reduce insurance costs and boost the value of their real estate investments by navigating flood zones effectively. He also discusses the broader applications of flood expertise in real estate development and the value of note-taking for personal and professional growth.

Episode Highlights:

1. Reducing Insurance Costs in Flood Zones:

  • Jake emphasizes the potential for property owners to lower insurance costs by removing their properties from flood zones.

2. Boosting Net Operating Income (NOI):

  • How the removal of properties from flood zones can significantly increase the NOI of these properties.

3. Flood Expertise in Real Estate Development:

  • The application of flood expertise to enhance real estate development, particularly in increasing buildable square footage and driving property value.

4. The Value of Note-Taking and Journaling:

  • Discussing the importance of note-taking apps and journaling as essential tools for personal and professional development.

Key Takeaways:

  • Leveraging flood zone knowledge can lead to substantial insurance cost savings for property owners.
  • Removing properties from flood zones can markedly improve the NOI of the properties.
  • Applying flood expertise in real estate development can result in more buildable space and increased property value.
  • Embracing digital note-taking and journaling as crucial practices for growth and efficiency.

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Conclusion:

Tune into this episode of Passive Wealth Principles where Jake Harris delves into the key lessons learned from his interview with DJ McClure. This episode highlights the significant financial and developmental advantages of understanding and navigating flood zones in real estate, alongside the ever-important practice of diligent note-taking and journaling for sustained personal and professional advancement.

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About the Podcast

Passive Wealth Principles
Contrarian Investing for Cash Flow and Freedom
You are listening to the Passive Wealth Principles Podcast. Your host; Jake Harris is the founder of an award-winning real estate investment firm and actively investing in commercial real estate all over the country. This show allows you to tune into interviews, dive deeper and deconstruction many passive wealth principles not just from investing but tactics, strategies, and many fascinating ways in which people have achieved levels of passive wealth.

Through my nearly 20 year career as a professional investor, I have built an amazing network of people and come across some super-savvy investors that not only have a unique stance on the marketplace but look at the same problems we all face and many times have come up with a simple but unconventional approach to solving them.

So come be a fly on the wall. Enjoy the conversations and these amazing passive wealth principle lessons.

Learn more: https://www.catchknives.com/

About your host

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Jake Harris

A sought-after expert and gifted story teller with contagious energy, he inspires everyone around him with encyclopedic research. He can take complicated ideas and convey them simply and clearly for everyone to understand. As a founder and managing partner of an award-winning commercial real estate firm, he has authored a #1 bestselling book (CatchingKnives). He has been featured in many publications including The NY Times & Yahoo Finance, he is a frequent speaker, podcast guest, and a highly valued coach. He uses those superpowers to pioneer cutting-edge bold design into an exciting hotel, infill, and adaptive reuse projects across the country. To date has purchased and sold1200+ properties in23 states and amassed a commercial real estate portfolio of iconic properties. He earned a master's degree in International Real Estate, sits on the FIU real estate board, is an accreditedCongress of New Urbanism city builder, a member of CCIM, Urban Land Institute (ULI) and holds a CA real estate brokers license.