Cheap real estate appears to be an easy win. Lower prices, lower risk, faster cash flow. That assumption gets a lot of investors into trouble. In this episode of Test. Optimize. Scale, Stewart Beal breaks down why low-priced properties often create the biggest headaches and how early mistakes with tenants, credit quality, and location can quietly destroy returns. Stewart shares the real story behind his first five unit property, the lesson a single tenant taught him about risk, and how that experience reshaped the way he evaluates deals today. We also dive into how Stewart scaled from a teenage entrepreneur to managing thousands of residential and commercial units across Michigan, what he looks for in value add opportunities, and why who manages the property matters more than the purchase price. If you are thinking about investing in real estate, partnering with operators, or scaling a portfolio, this conversation will challenge some popular assumptions. About the guest: Stewart Beal has been active in real estate and construction for over 15 years. He founded Beal Properties in 2001 after purchasing his first five-unit apartment building at age 19. Today, he manages more than 3,100 apartments, single-family homes, and office spaces across 27 cities. He holds a degree in Business Management from Eastern Michigan University and was recognized by Crain's Detroit Business in their 20 in Their 20s feature. Topics covered: - Real estate investing mistakes beginners make - Why cheap properties often cost more long-term - Tenant quality and credit score realities - Value-add investing and forced appreciation - Scaling property management and teams - Hands-on versus hands-off investing Website and Social: https://www.linkedin.com/in/stewartbeal/ http://beal-capital.com

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