Commercial Real Estate Investing with Don and Eden

On today’s episode, our guest Carlos Gutierrez is based out of South Carolina. He started flipping homes and eventually made his move to commercial real estate. He started with a 20 unit deal and since then has doubled his success with recent deals. He has an avid passion for motorcycles and he owned a shop Deltona, FL. 

 

In today’s episode, Carlos discusses how he entered the real estate game, details on his first house flips, how he found his first 20 unit deal and his future plans. He also shares with us, his goal with multifamily properties and how he found his formula to success. 

 

Episode Highlights:

Details on His 1st Deal

Recent Deals on Multifamily Properties

What Book Motivated to Enter the Multifamily Sector

His Future Plans

 

Connect with Carlos:

Email: [email protected] 

Facebook: @CG4propertiesllc

Office #: 843-934-4250

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TRANSCRIPTION

Intro: Hey guys, and welcome back. Today I am interviewing Carlos Gutierrez. I think Carlos and I share a similar path as well as so many other real estate investors. We both started in flipping homes and ended up deciding we want to scale up and start doing something bigger, hence getting involved in commercial real estate. So, I think this is the standard evolutionary process and progress of the typical real estate investor. And I'm sure many of you guys are either in this position or have been in this position in the past, which is why I think this episode is super important. So have fun, and let's get started.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey, Carlos, it's nice to have you here. How are you doing today?

 

Carlos: Good. How are you guys doing?

 

Don: I'm doing just fine. I just got back from North Carolina looking at a property that is close to South Carolina, obviously, which is where you're based off. How are things in South Carolina? I can tell you that when I went to Charlotte right now when I was on the flight, there were a few tornadoes that just hit the city. So, when I landed in Charlotte, everything was like a mess. 

 

Carlos: I've lived here in Charleston probably for almost five years. We've had experiences with some close tornadoes in the area. When I mean close, I mean, like two or three miles down the road. 

 

Don: Wow. 

 

Carlos: Yeah, so we had one real bad one, think that September of 18. Took the roof off of the DMV building, a place that sells trailers and cars, flip trailers upside down. It was destroyed like Main Street, which is Machs Corner, which is five to 10 minutes up the street from where I live. I've lived through a lot of hurricanes because I'm originally from Puerto Rico and then grew up in Florida, so hurricanes don't bother me as much and you have time to prepare. And I tell you what, man, those tornadoes are scary. I was telling my wife the other day I was going to build one of those doomsday bunkers underneath our house. You literally have no time. And by the time they said there's a tornado on top of that you got less than a couple of minutes.

 

Don: Yeah, to get in right? So, I know you flip a lot of homes in South Carolina. Did you ever have any situation where you had one of your homes get impacts from any type of bad weather whatsoever?

 

Carlos: I've been fortunate enough to have any disasters hit any of our houses or any of our commercial property. We've been through hurricanes, we've been through tornadoes, we've been through some flooding and I haven't had anything major other than maybe a couple of our units getting flooded.

 

Don: That's a good thing. I know you flipped a lot of homes. So, you've done like over 20 flips, right?

 

Carlos: Yeah, yeah.

 

Don: So how about you tell us a little bit about that and how it started. How did you get into real estate and what was your first deal and ho

DE 37: Good Research = Smart Investing with Scott Price

 

Today’s guest has sharpened his skill sets through key roles in various companies as a team manager, program manager, and marketing manager- Scott Price. In 2005, he purchased his first apartment complex of 29 units. He used the full‐time broker status to immerse himself in real‐world real estate, investing and applied education. After being approached by some people, Scott began to provide professional coaching for aspiring real estate investors.

 

In this episode, Scott shares with us the details of his first deal- what he learned and what he’d do differently, how he managed a full-time W2 job & real estate investing on the weekends, how he became financially free and his current deals. 

 

Episode Highlights:

Real Estate Beginnings

Scott’s Retirement Plan

Advantages of Real Estate

A Memorable Deal

1:1 Coaching

 

Connect with Scott:

Website: bonvolo.com

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TRANSCRIPTION 

Intro: Hey guys, welcome to the show. Today, I'm very excited to host Scott Price. Scott is a real estate investor. He's also a hard money lender. He's an active investor. He's a passive investor. And he's also a coach. Now, if you're asking yourself, how is it possible that you can do all these things, then I guess it's just a type of business that real estate is. It's just being diverse, being able to think long term. I think what I like about Scott is his long term vision. And that is a key feature that you got to have. It's something in your mindset, you got to understand that real estate is a long play. So, you got to be patient, and you got to keep working, you gotta keep grinding, and you have your way of doing this. So, Scott's way of doing this is working a W2 job as he's investing in real estate. That's a safe way and that's a very nice way to do things. So yeah, I think Scott has a lot of value to give. So, without further ado, let's get started.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey, Scott, welcome to the show.

 

Scott: Hey, Don, thanks. I'm looking forward to being here and talking to you.

 

Don: Yes, I'm also looking forward to having you here because I know this interview was rescheduled so many times just out of coincidence, and I really wanted to have you on the show. I think what you're doing is truly phenomenal. And I know you've been listening to the show also, as well. So, you've been there on the side of the audience and listener and also now as somebody who's being interviewed, so I'm very happy to have you here. And yeah, let's get started. Tell us a little bit about your career, your real estate career and how you got started in real estate.

 

Scott: Sure. I would say it first started many years ago, was looking at what am I going to do with my life and how am I going to become independent in terms of financial lifestyle and not dependent upon the winds of a company. And even going back to before college, I was thinking those kinds of things, certainly did during college as well and I kind of started on the usual approach of most people who have got a good job, go to a good school and things like that. But from all the research that I did, the thing that kept coming up over and over again was that people who maybe we're not household names, but they were people who developed a combination of recurring income as well as net worth. It kept coming back to real estate that some people would win the lottery by great IPO or their stock or something like that but it tended to be a smaller percentage, and it was a real roll of the dice as to whether or not you happen to be in the right company or not, or things like that. 

 

I didn't want my life to be a chance, I wanted to be something that I could control and expand on. And to me real estate was that

Joining us today is Brie Schmidt, a Chicago based real estate investor. She began her career in corporate sales while always holding her real estate license current. In 2011, she decided to leave the corporate world to become a full-time real estate investor. Since then, she has bought several properties in the Windy City and Milwaukee. In 2014, she started a brokerage company and in 2017 she started a conference business. Brie makes use of her extensive knowledge of constructing and managing a portfolio to teach clients about all aspects of buying and holding investments.

In this episode, she talks about her career as an investor, how she started and how she got to where she is today. Brie discusses how and why she decided to focus on the Chicago & Milwaukee markets, criteria she looks for when deciding on a property and her plans for the future. 

Episode Highlights:

Brie’s Start as a Real Estate Investor

Cap Rate Criteria for Properties

Work-Life Balance

Her Future Plans

Connect with Brie:

Website: Second City Real Estate

 Social Media: BiggerPockets or LinkedIn

Join Brie @ the Midwest Real Estate Networking Summit

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TRANSCRIPTION 

 

Intro: Hey guys, today Don with interview Brie Schmidt. Brie is the first female investor on our show, so we are very excited to have her here. We really hope this episode will inspire other female investors to jump right in the arena of real estate investing. After listening to the interview, I have learned from Brie that this type of profession actually enables a future mom to enjoy both worlds have a very successful career and the ability to take as much time needed for recovery and raising your newly born child. Don and Brie will also discuss the best strategy of choosing a market which is going there and seeing it firsthand. I hope you guys will enjoy this show.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey Brie, welcome to the show.

 

Brie: Thank you for having me.

 

Don: Yes, of course. I'm very excited to have you as you know, you are the first female investor on the show. I've been trying to get a female investor for quite a while. And I know we've wanted to do this interview for a long time.

 

Brie: Yeah, I just had a baby. So, scheduling has been a little bit difficult for me.

 

Don: I could only imagine how difficult it would be to be a real estate investor and also being pregnant and taking care of babies. That must be requiring a lot of toll from you, right?

 

Brie: You learn to prioritize your time, right, and what's important and it's been something that I've been considering a personal mission of mine for a few years. When I started this business, I quit my corporate job back in 2014. So, I started real estate investing in 2011. I bought another property in 2012. I bought another property in 2013. And then I decided to quit my job and do this full time. 2014, I bought another 10 properties, and then in 2015, I bought another 12 and then bought a couple more in 2016. So, at the time when I quit my job, I used to work in corporate advertising sales. I'm like this is going to be great like I'm going from 50 hours a week and traveling all over the country. Now I'm going to be chill and I work from home and I'm self-employed. And for the first few years, I was working more hours than I was when I had a W2 job. 

 

It wasn't until about 2017 that I was really like, wow, like I have started a couple of other businesses, I'm the Managing Broker of Second City real estate, which is an investment, boutique investment firm for agents. I also started a website business and it was like, well, what was the point of me leaving my solid W2 jobs to get 'financial freedom' if I'm working from the moment I get up to the moment I go to bed and weekends. So, when I knew that we were g

In today’s episode, our guest Andrew Cushman was a chemical engineer for more than seven years. In 2007, he and his wife decided to follow their entrepreneurial spirit and entered the world of real estate. Their journey began in flipping single-family homes, in which he completed 23 transactions- purchase, rehab & sell. A few years later, he made the transition into the acquisition and repositioning of multifamily properties. Today, he continues his success in the nation’s SE market. 

Andrew discusses how he went through the recession of 2008, his strategy for buying single families and multi-family properties, why he chose the Southeast market. Andrew also shares the pricing strategy he used as well as how he decided to get into the mobile home park asset.

Episode Highlights:

Learning the Business & Becoming an Entrepreneur

2 Categories within Mobile Home Parks

Bad Market or Bad Strategy?

His insight on the Next Recession 

Connect with Andrew:

Website:  Vantage Point Acquisitions

 

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TRANSCRIPTION

 

Intro: Hey guys, today I am interviewing Andrew Cushman. And I'm in a very good mood for various reasons. Number one is because I'm very happy to interview such an amazing individual. Andrew is really a professional and I had the chance to talk to him a little bit before the show and kind of understand how he thinks. It really brings me to the point of understanding again and again, that it's all about the mindset, it's about faith or fear. If you're afraid, then you're going to be paralyzed, and you'll never succeed in accomplishing your goals. Cause with no risk, there's no reward, it's as simple as that. You'll also hear during the interview, how Andrew is a thinker and he goes against the herd, which is something I personally believe in. 

 

I think it's always important and smart to go against the herd and analyze your own life and environment with total faith in yourself and your abilities. I think really, Andrew is that kind of person, which is why I enjoyed the conversation with him so much. The second reason why I'm in a good mood is that me and Eden are getting close to this mobile home park deal that has 70 units. I had a great time underwriting the deal and learning more about the specific market, where it's located. I guess I'm grateful. I'm just truly grateful for doing what I love, really being able to do something that is big and invest in real estate. 

 

Sometimes I think about it, and I can't believe it, that I'm doing these things. And I really want to help others achieve the same goals and change their lives. So, I guess this is an opportunity for me to say that I'm grateful for you guys as well as our listeners, and I hope you are learning what you need here. And that in the future, when you are successful in real estate or in a future deal, then you think about us and the stuff you learned here. I think that's about it. Without further ado, let's get started.

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey Andrew, welcome to the show.

 

Andrew: Hey, how are you doing? Glad to be here. 

 

Don: I'm doing just fine. Actually, we just had a conversation before the episode started. And I got to say, I had a lot of fun talking to you about what you do and your outlook. And also, I found out that we have a lot in common, right? 

 

Andrew: Yep. 

 

Don: Yeah. But before we get into that, how about you tell us a little bit about your background and how you got into real estate, to begin with?

 

Andrew: Yeah, I took the standard path into real estate and went and got a chemical engineering degree. But I always knew that was just a placeholder. It was just something that I could earn a decent income. So, I figured out what I would really want to do because I knew I wanted to be an entrepreneur.

Kevin Amolsch, based in Denver, Colorado, is a very passionate real estate investor. He served 4 years in the US Army right out of high school and worked as a mortgage bond analyst for several large Wall Street firms. In 2008, he started his own financial institute, ‘Pine Financial Group’ which is a nationally known hard money lending company. Kevin is the author of The 45 Day Investor and is recognized as an expert in real estate finance. 

 

In today’s episode, Kevin talks about his start as a real estate investor, raising funds & hard money loans and his 13 unit deal on an assembled lot. He discusses his plans for the future and why keeping your focus is essential. 

 

Episode Highlights:

Kevin’s Portfolio Details

Process of Assembling Lots

His Business Ethics

Future Plans for Pine Financial Group

 

Connect with Kevin:

Website: pinefinancialgroup.com

YouTube: Pine Financial Group Channel 

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TRANSCRIPTION

 

Intro: Hey guys! Today Don will interview Kevin Amolsch. Kevin is a single-family investor who is based out of Colorado and also does hard money lending. Nowadays, Kevin is in the midst of a 12 townhouse development. What I find interesting is how diversified Kevin is and the commonalities we share. Me and Don also started at single families, moved up to commercial and we are currently developing a 30 unit multifamily in Hollywood, Florida. One of the most interesting things we have learned from Kevin is the process of assembling two lots and approving it with the city. I hope you guys will find the interview interesting and enjoy the episode.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey, Kevin, welcome to the show.

 

Kevin: Hey, Don, thank you so much for having me.

 

Don: Yes, you're welcome. I know you're a single-family investor and a multifamily investor and you also focus on raising funds and then doing some hard money loans and that's the type of income that you generate. So that you do a lot of things and for that reason, you're on the show, because I bet my audience and our listeners have a lot to learn from you. So, the first thing that I would like to ask you is that the first time that you start to look into real estate.

 

Kevin: Right out of high school, I got into the Army and in the Army what you find is that you don't make a lot of money but you don't spend it either. So, I was growing a little bank account, I was trying to figure out what to do with it. So, I started reading books and one of the ones that I read it most of your listeners probably know is 'Rich Dad, Poor Dad.'

 

Don: Yeah, the famous purple book. Okay, guys, if you haven't read it, then please do yourself a favor and get on with it.

 

Kevin: Yeah, I mean, that's got to be a staple. I don't know if I know any successful real estate investor that has not read that book. Kiyosaki favors real estate. So, I was attracted to it and I started reading more and more and more and I ended up buying my first house. I was just turning 21 at the time. I got out of the Army, moved into the house, moved into some roommates to pay my mortgage for me. And then two years later, I moved out of it and kept it as a rental. I was cash flowing 300 or 400 bucks a month. I saw the value going up. And I knew that real estate is what was going to make me rich. So, I started focusing on it, and I turned it into a career as I was working my way through college.

 

Don: Amazing. So, what did you study in college?

 

Kevin: Yeah, I got a degree in finance, which does help. You don't necessarily need a degree to be successful in this business.

 

Don: Definitely. I always say that on the show that I never went to college. And I don't think in today's world, it's a necessity. I think it's something that you want to do if you want to become a professional if

Bill Manassero is proof that it’s never too late to invest in real estate. Bill made his first deal at the great age of 60! Based in Irvine, California, he has worked in offices, worked as a musician, and operated his own businesses all his life. His music led him to take part on a mission in Haiti, where he started his organization named ‘Child Hope International’ which helps the children of Haiti. After a few years on the mission, he and his family moved back to the states and hit the ground running in the world of real estate. 

 

In this episode, Bill talks about his life in Haiti, how he came up with the idea of helping orphaned and abandoned children. He also discusses why & how he jumped into real estate, about his first deals, his lessons learned from it, and how he made the transition into a 22 unit deal. 

Episode Highlights:

 

Bill’s Mission in Haiti

His Start In Real Estate

Paralysis of Analysis

Hiring Property Managers

Connect with Bill:

 

Website:  OldDawgsREINetwork.com

 

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TRANSCRIPTION

 

Intro: Hey guys, and welcome to the show. Today, I'm very excited to host Bill Manassero. And Bill's story is very inspiring, particularly because of the fact that he started investing in real estate when he was 60 years old. A lot of people say that they're afraid of jumping in because they feel like that ship has already sailed, or they're too young and many other excuses why not getting into real estate. But how about being 60 years old, not having enough money to retire or thinking about retirement and getting into real estate at that particular point? I think that's inspiring, and it doesn't matter the situation, I think it's something that we should learn from. So, without further ado, let's have Bill Manassero.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey, Bill, welcome to the show, and happy Thanksgiving.

 

Bill: Hey, it's great to join you here today. This is Happy Thanksgiving to you too.

 

Don: Thank you for much. I'm actually Israeli. I know Thanksgiving is an American holiday or like an American event and I have been in this country for eight years. And it's my favorite holiday here, I guess because it reminds me of home. As Israeli people, we assemble every Friday for a Friday dinner with our families. 

 

Bill: Shabbat

 

Don: Yes, Shabbat dinner. And that is the closest that we got here. So, I love it. I love this holiday and I love the atmosphere and I love the fact that Florida is getting a little bit colder. That's amazing.

 

Bill: How cold, down to 70 now or something?

 

Don: Oh it's 75.

 

Bill: Oh, man, you must have big down coats on.

 

Don: Yeah I'm wearing a jacket, don't ask. How's the situation in California, right, you're based off California?

 

Bill: Yeah, I'm in Southern California. It's called South Orange County which borders San Diego County. A very nice area here. Just love it. The beautiful and yeah, I think we're down in the 60s and 50s here lately, so we're getting really cold. And the people, of course, listening and Michigan and places like that are just saying. Yeah, right. What are you guys talking about?

Don: That's right. Yeah. Okay. So, Bill, how about you tell us a little bit about yourself in your real estate career? I know you're a very accomplished man, and you've done a lot in your career. So, tell us about yourself, what you're doing right now, what you've done in the past. Let's hear all about it.

 

Bill: Oh, you bet. Sure. Well, I don't know how far back you want me to go. It'd be a long show here but I'll just try to give you an overview. Mainly grew up in Southern California, started off early in the banking industry, or at that time, what they called savings and loans, and learned a lot about just the financial transactions that occur and how funds are t

Scott Meyers is a real estate investor based in Indianapolis. It all began in 2005 and since then he has grown in the self-storage industry as a developer, owner, syndicator, and operator. He has several multi-million dollar businesses under his belt but his favorite is self-storage and today he is in control of over 7,500 units. Scott started ‘The Self-Storage Mastermind’ to teach others about the self-storage business. 

In today’s episode, he discusses how he entered the real estate industry, why he’s chosen to grow with self-storage, and what one should keep in mind before investing in a facility. He gives us insight on one of his memorable deals over the years- what happened, what he learned and what’s going on with it today. 

Some Of The Episode Highlights:

His Self-Storage Business

His ‘Why’ in Self-Storage

The ‘Boomerang Property’

Special Gift for Our Listeners 

 

Connect with Scott:

Website: selfstorageinvesting.com

 

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TRANSCRIPTION

Intro: Hey guys, this is Don, your host. In today's episode, I will interview Scott Myers. Scott is an amazing investor and he specializes in one of the most interesting asset classes, self-storage facilities. Today, me and Scott will discuss the nature of this market. Also, as previously mentioned, I want to remind you that you have an opportunity to get a free 30-minute phone call with me and Eden if you review our podcast on iTunes. Simply rate the podcast and write a review of how you feel about the content and the show. To redeem, email us the content of the review to [email protected]. You will then be contacted and scheduled for a 30-minute phone call with me and Eden, where you could ask questions or network about any subject or project that you would like. So, let's get started and I hope you guys will enjoy the interview.

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

Don: Scott, welcome to the show. How are you doing today?

Scott: Hey, Don, I am fantastic. How about yourself?

Don: I'm great. How's the weather up in Indiana?

Scott: Well, that depends. We had our first snowfall of the year last night. It had about three inches, which is a little bit more than we normally get this time of year. So, I think I'd rather be down next to you conducting this interview right now.

Don: Yeah, I mean, we just got the best weather right now in Florida. It's been very muggy for November, 75 degrees all throughout. I used to live in the Midwest, and I know it kind of gets cold in that period of time of the year, right?

Scott: Sure can. Yep.

Don: Yes. You've been living in Indiana, all of your life, born and raised?

Scott: Born and raised in Michigan. I went to the University of Michigan and after I graduated, I moved down to Indianapolis where I took a job. I was working in the telecommunications industry before I got involved in real estate.

Don: Wow. Okay, so that's a pretty sharp transition. What made you move into real estate?

Scott: When I began looking in investment books on ways to I guess diversify my retirement rather than relying on our 401k stocks and bonds and mutual funds ran across several books, one of which was Robert Kiyosaki's book terms in real estate and the more I looked at more I realized that I didn't want to put my money into the stock market as the poor dad did in Robert Kiyosaki's book 'Rich Dad, Poor Dad.' And so, I began investing in single-family homes and then it took off after that.

Don: Yeah, let's talk about your initial investments in the single-family space. What did you do, fix and flip?

Scott: Began to buy single-family homes, and then fix them up, refinance them and rent them out. And I did that for a number of years until holding. It's kind of a tough gig holding on as a landlord unless you're flipping some as well. So once the economy be

Brian Burke, based in Santa Rosa, California, is a real estate investor and the President and CEO of Praxis Capital, which is a vertically integrated private equity investment firm. He established this firm back in 2001. He began his career in 1989, buying his first rental property which led him into the world of multi-family then commercial investing. 

Brian is a successful entrepreneur and syndicator - today he shares how he started his real estate career and giving back to his community after the wildfire in California. He also discusses his investing strategy, where he’s looking to invest, what to expect from an investment and his future plans.

Some Of The Highlights:

His First Real Estate Investment and His Business Today

His Work Strategy and Advice For a ‘Rainy Day’ In Business

Brian’s Retirement Plan

What is the preferred return? 

 

Connect with Brian:

Website: PRAXCAP.COM

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TRANSCRIPTION

Intro: Hey guys, this is Eden and today is a very special episode because we are going to host Brian Burke, who is one of the biggest investors on this show to date. Brian had completed half a billion in real estate purchases this year alone after a long and beautiful career that lasted for 30 years and still counting. When listening to this episode, I was personally amazed by how humble Brian is and the sheer perspectives and mindset real estate investors to have despite the fact that they never met before. Also, today we would like to ask you guys for a favor. If you love our content and feel like you're learning from this podcast, please go on iTunes and give us a five-star review. This helps the podcast to rank higher and the best, part if you give us five-star review, shoot us an email at [email protected] with the content of the review and your phone number, and you'll get scheduled for 30 minutes phone call with me and Don where you can talk about real estate and get answers for the questions you always had. So, without further ado, let's get started.

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

Don: Hey Brian, welcome to the show.

Brian: Thanks for having me on Don.

Don: How's the weather in Santa Rosa, California?

Brian: Oh, it's a beautiful day today, almost 80 degrees this afternoon and in November, which is a little unusual, but I'll take it.

Don: I like to skate. It's like my hobby. So, I went to L.A., I went to Venice. I took a month off, just wanted to skate, took my skates with me and went there. Some people said it's the best place for anything that has wheels. And so, when I got there, that was late May and it was raining. It was like rain in L.A. and people told me it's very rare. That never happens. And it was kind of cold. And so, one of my friends that lives in California said that the weather over there was pretty unusual this year. Would you agree?

Brian: Yeah, it was unusual. A lot of rain this spring and a lot of heat this fall. So, it's been a little bit unusual. But I would say the best weather in California is probably September and October. Those are usually some of the nicest months and people think that summer is probably the nicest, but it's not always the case.

Don: Yeah not always the case. Is it still burning over there? I know you guys had the wildfires.

Brian: There's a large fire. The largest fire in our country's history just got fully contained yesterday. And that was about a couple miles up the road from our office. So, we were under mandatory evacuation last week. And this week, we're back in action here in the office.

Don: As sad it is to say that, I'm sure that these wildfires pose some great opportunities for real estate investors. Am I right?

Brian: Well, once in a while they do and we had a fire in our city two years ago that wiped out 5000 homes in our city. We raised a fu

In today’s episode, we have the pleasure of featuring a well known & respected mobile home park guru, Kevin Bupp. He entered the real estate world at the young age of 19 where he started with single-family residential real estate. As time went on, he learned about commercial real estate and grew his portfolio- right before the crash of 2008. Like everything, you live and learn- and that’s what Kevin did. He did some soul searching and wanted to focus on his hobbies of health and fitness. He took some time off of real estate and built a company around custom cycling clothes and ran a social club 'Running For Brews.’

However, Kevin still had that real estate fire in him and his vision changed after a lunch meeting. Kevin became intrigued in mobile home parks and he owns several of them throughout the US. In today’s episode, he discusses how and why he chose mobile home parks in this second round of his career, the factors of a good deal & how to find them, and the importance of being in a good headspace. 

Episode Highlights:

How Things Affected His Business In The Early 2000s

2012 Tragedy And Onwards

The World of Mobile Home Parks

Where To Learn About Investing In Mobile Home Parks

 

Connect with Kevin

Website: Kevinbupp.com

Company Website: sunrisecapitalinvestors.com

Podcast: Real Estate Investing for Cash Flow 

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TRANSCRIPTION 

Intro: Hey guys, today I'm very excited to discuss one of the most intriguing asset classes and one that is known to have caught my attention at least. And of course, I'm talking about mobile home parks. Mobile home parks are one of my primary targets as an investor because I truly believe that to create long term wealth, there is nothing better than buying a piece of land. And if that land also happens to be a cash cow, then I'm all in. I think mobile home parks are just that. So, in today's episode, I'm going to host Kevin Bupp who has a truly remarkable story and is considered a guru when it comes to mobile home parks. So, let's get going.

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

Don: Alright, hey, Kevin. Welcome to the show.

Kevin: Hey, Don, thanks for having me. I'm looking forward to it.

Don: Of course I was looking forward to it as well because I know you're one of the best mobile home park investors out there. So, I'm very happy to have you on the show because it's not a secret that I'm very interested in mobile home parks. But first, I'm going to ask you a little bit about your career and how you got started so my audience could get to know you a little bit better.

Kevin: Sure. Mobile home parks have been our focus for the past seven years. However, it's not really where I got started. Like a lot of folks, I got started in single-family residential real estate. It was introduced to me or I was introduced to it back when I was 19 years old. Ultimately took me about a year and a half to buy my first property and spent the next couple of years following that introduction to residential focusing on building a single-family rental portfolio. And that's the direction of my mentor at that time. That's exactly what his business model was. So, I just followed it to a tee.

We would only ever wholesale or flip a home when we needed to build up capital reserves. But the long term intent was to always build a portfolio for long term cash flow. At some point during the first couple of years, I was introduced to the world of commercial real estate more specifically multifamily property and so we started diving into the multifamily space as well. This is back pre-2008. This is back in 2002-2007, leading up to '08. So, we had built quite a large portfolio of single-family properties and instead of acquiring apartment complexes as well, along with other m

Andrew Syrios has been in the real estate business for over 10 years. Born in a real estate investing family, he was mentored by his father, Bill Syrios, who is also a real estate investor. His father started investing in the early 80s. Andrew is based in Kansas City, MO. He joined the family business straight out of college. He is the owner of more than 500 units in Missouri and manages own portfolio. His real estate preference is to buy and hold for cash flow.

 

In this episode, both Andrew and Don discuss their experience in real estate investing. Andrew gives a lot of details about how, when and where to invest. Andrew discusses his thoughts on a possible recession along with possible factors to look for.  Also the importance of standardizing certain tasks in order to streamline your business, get more done and have everyone on the same page. 

  

Episode Highlights:

 When and How He Started Investing

Tenant vs. the Landlord Friendly States

His Criteria For Choosing a Property

Importance of Having Systems & Policies in Place

Connect with Andrew:

Website:  Andrewsyrios.com

Podcast: The Good Stewards Podcast

 

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TRANSCRIPTION

 

Intro: Hey guys. On today's episode, we're going to have Andrew Syrios. Andrew had been investing in real estate for the past 10 years. He does mostly single families and some small multi-families in Kansas City, Missouri. I like the fact that he's scaling a business that most people say is unscalable, which proves time and time again that there are many ways to become a successful real estate investor. So stay tuned and enjoy the interview.

 

Lady: Welcome to the commercial real estate investing podcast with Don and Eden where we cover all aspects of real estate investing with special attention to off-market strategies.

 

Don: Hey, Andrew, welcome to the show.

 

Andrew: Hey, thank you for having me.

 

Don: Yes. You're welcome. I know you're based off Kansas City, Missouri?

 

Andrew: Yes. Good old Kansas City.

 

Don: Yeah. And we just had a lovely conversation about Kansas City is one of the only cities that are two cities divided into two states. So, we were talking about how it is to be a real estate investor in an area like that. So, I guess I would want to ask you that again so that you could clarify to our audience a little bit about that.

 

Andrew: Put it on the record. Yeah, I mean, it is interesting. I mean, we call it KC Mo and KC K, we're based on the Missouri side. Every city's got different pockets, good areas, bad areas, areas that are too expensive for buy and hold and rentals and whatnot. I'd say the biggest issue is kind of there are some hard breaks particularly like Kansas City, Missouri has the main part of downtown Kansas City is in KC Mo. And when you go across the river there and the KC K, it shifts pretty drastically. So, you have some pretty drastic changes in some parts. In some areas, you go across the state line, and it's like nothing changed at all. That's some of it but also there are some law changes. That's also true. The county, they're six counties in the Kansas City, Missouri metro area. The laws are a little bit different. For example, in Jackson County, Missouri, the evictions can take substantially longer than they take Johnson County or Wyandotte county is what has Kansas City, Kansas. But at the same time when you evict someone, you have to store their stuff for a little while on the Kansas side. Missouri said they just tell you to throw them on the lawn.

 

Don: Is it a tenant-friendly state?

 

Andrew: I would say both Kansas and Missouri are pretty in the middle. But I think Kansas is probably a little bit more so on the tenant-friendly side.

 

Don: I know a lot of investors that would steer away from tenant-friendly states, and it's understandable. It's difficult.

 

Andrew: Yeah, well, if they put in something like California, and I think Oregon just put in rent control, and New Y