Sam Sells, a real estate investor, joins us for an interview where he shares his journey to financial freedom. Sam started with single-family homes while working as a healthcare administrator before eventually achieving financial independence through real estate investments. He discusses his challenges during the recession and how he used VA loans to buy properties. We discuss the need for more education on real estate investing and the importance of understanding proper and wrong decisions in the field. Sam emphasizes the need for thorough inspections and budget padding when undertaking heavy-value add projects.

Additionally, he highlights their focus on positively impacting the communities where they invest. Overall, this conversation highlights valuable lessons from experience while offering advice for investors looking to make informed decisions. Tune in now for an engaging discussion!

 

[00:01 - 08:54] Opening Segment

Sam Sells shares his journey to achieving financial independence through real estate investing

He started with single-family homes and learned through books and education programs

Sam buys neglected properties to improve the community and create safe living spaces

 

[08:55 - 14:30] From Flipped Houses to Mobile Home Parks: A Real Estate Investor's Journey to Success

Sam also worked in hospital administration and global health for a decade, learning about sustainable systems and profit motives

Eventually, he turned to commercial real estate and bought two mobile home parks with his father using a master lease tool

They fixed up the homes and began making $10k/month in free cash

 

[14:31 - 22:54] The Unglamorous Reality of Scaling a Business

Working for free requires equity or family ties

Syndications are an easier way to build net worth and passive income

His daily schedule involves early morning work and family time in the evening

Making an impact on communities through heavy value-add projects requires hiring professionals and understanding the property's condition

Budgets must be padded and capitalized correctly from the beginning to avoid blowing out of the water

 

[22:55 - 28:43] How to Ensure Your Investments Have a Positive Impact on Properties

The importance of being well-capitalized in real estate investments

Detailed inspection of properties to identify potential issues

Knowledge of different types of sellers and their mistakes can impact the success

Front-loading construction work for more accurate predictions and lower holding costs

The importance of investing in clean money that aligns with personal values

 

[28:44 - 33:56] Closing Segment

Best investment made: marrying his wife

The worst investment made: investing in a structurally unstable property

Most important lesson: It's all about the people

Quotes:

 

"We like to buy those properties and make a major difference there and improve the community, and in the process, improve the property and just really create safe, clean places for people to live." - Sam Sells

 

"Commercial real estate's a team sport." - Sam Sells

 

"When you invest in syndications, you can get a pretty good idea of what your money is being used for, right? You can invest in a way that's clean and it makes a difference." - Sam Sells

Connect with Sam!

Website: www.wildmountaincapital.com 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

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