Kevin Bupp is an entrepreneur, philanthropist, and real estate expert. Since 2010 Kevin has been focussing his attention on the mobile home park market, the results of which he has happily agreed to share with me today. Throughout his entrepreneurial journey, Kevin has always returned to real estate, a market he calls ‘one of the easiest ways to create true wealth’. Now that he has made the leap to mobile home parks, his only wish is that he had done it sooner!

 Listen now to hear my chat with Kevin, including; how he dealt with the economic recession, his chance move to mobile home park investing, and most importantly his best and transferable techniques to close those important deals.  

Key Takeaways

[03:17] Kevin's real estate journey.

• Got into real estate at 19 years old
• Began his real estate journey with single family homes.
• He was in the business for 5 years before he bought his first multifamily home.

[4:48] The recession and a two-year hiatus.

• Took a couple of years away from the real estate market following the crash.
• Worked on some different markets, including health & fitness and fashion.
• A chance meeting got him interested in the mobile home park market.

[05:51] ‘The biggest small project I ever worked on’.

• How he found his first mobile home park deal.
• Various partnership structures.
• He always has at least one business partner.

[10:07] Raising money for his first deal.

• His credit was shot following the economic crash.
• Former investor helped to finance his first park.
• It was important to make his investor feel safe.

[11:47] Why Kevin decided to go back into real estate

• He believes it is still one of the easiest ways to create true wealth.
• Only way to get back to the lifestyle he was used to.

[14:17] Lessons learnt from the recession.

• Single family homes are very inefficient.
• Mobile home parks provide scalability.
• He wishes he had started buying multifamily sooner.

[19:17] So what’s so great about mobile home parks?

• Some unique barriers to entry.
• They don’t build them anymore.
• The only commercial asset class with a diminishing supply.
• It's affordable housing, a market with a growing demand.
• Tennent turnover rate is low because homes are expensive to move.

[22:20] Park management and scalability.

• There are not many professional management companies for mobile home parks.
• Kevin has his own internal management structure.
• On-site manager who lives in the park.

[24:53] Where Kevin finds his on-site managers.

• Look for tenants who maintain their homes, displaying ‘pride of ownership’.
• You can also hire managers from outside, but they must live in the park.

[26:25] Finding new deals in the mobile home park market.

• Majority of his deals are found off-market.
• Utilizes direct mail and cold calling to target potential park sites.
• Identifies target market first

[30:07] Techniques and tips for finding owner information.

• Using TLO.com you can find out nearly any person’s contact information.
• The information gained in this way is very accurate (but you have to meet TLO criteria).

[37:40] What would Kevin tell his younger self?

• Buy multifamily homes and stay away from the single family market.

[41:25] What Kevin is most excited about right now

• It is a unique time for the industry.
• It’s a great time to be buying mobile home parks.

Connect With Kevin

 

Bobby Casey, an entrepreneur, and world traveler who now specializes in helping people protect their assets and live off the grid. He’s managing director of Global Wealth Protection, which provide asset protection strategies to shield your wealth from frivolous litigation and create "sleep at night" insurance.

His company can properly structure your offshore company, trusts, foundations and provide bank account introductions to more than a dozen banks around the world. In addition, they can help you move your IRA funds offshore.

We truly live in a world gone mad. Lawsuits are easy to file, the rewards can be enormous, and there’s no down side to losing a lawsuit.

Bobby describes how to structure the entities so that it’s hard for attorneys to figure out what you own. By using advanced techniques, like irrevocable trusts, it’s actually possible to not own anything, so even if you do get sued, there’s nothing to attach the judgment to.

Listen to this episode and implement Bobby’s techniques NOW before you lose it all.

Show Notes are at http://www.TheMichaelBlank.com/session53

Bobby Casey, an entrepreneur, and world traveler who now specializes in helping people protect their assets and live off the grid. He’s managing director of Global Wealth Protection, which provide asset protection strategies to shield your wealth from frivolous litigation and create "sleep at night" insurance. 

His company can properly structure your offshore company, trusts, foundations and provide bank account introductions to more than a dozen banks around the world. In addition, they can help you move your IRA funds offshore.

We truly live in a world gone mad. Lawsuits are easy to file, the rewards can be enormous, and there’s no down side to losing a lawsuit.

Story of house flip.

Bobby describes how to structure the entities so that it’s hard for attorneys to figure out what you own. By using advanced techniques, like irrevocable trusts, it’s actually possible to not own anything, so even if you do get sued, there’s nothing to attach the judgment to.

Listen to this episode and implement Bobby’s techniques NOW before you lose it all.

 Key Takeaways:

[3:39] Bobby’s Backstory

• Owns Global Wealth Protection
• His mission is to teach people how to internationalize their business, wealth, and life.
• He caters to those who are interested in an international business and lifestyle

[4:32] His thoughts on living like a nomad

• He’s been an expat for almost a decade and lives in Latvia
• He says a digital nomad is “an expat with commitment issues”
• He is passionate because the technology today makes it significantly easier to become a digital nomad.

[7:26] His life before he became a digital nomad

• Started, bought, sold a dozen businesses.
• He has been an entrepreneur his entire adult life and had a few epic failures along the way.
• He started being a digital nomad because he’s an expat.

[9:47] His thoughts on real estate investing

• Real estate investing is a great opportunity for people who want to have a nomadic lifestyle.
• He likes the concept of parking money in physical assets.
• His advice is to diversify geographically

[13:16] Mistakes investors often make

• Poor structuring of a deal is a common mistake
• He provides an example of how damaging poor structuring can be

[17:21] His advice to prevent poor structuring of deals

• He doesn’t recommend home state LLC own their property
• Don’t create an umbrella of ownership in one corporation
• Have an irrevocable trust on the membership interest in all LLCs

[21:50] Irrevocable trust and its beneficiaries

• An irrevocable trust is an asset protection and estate planning tool
• You'll be a grantor or settlor of the trust.
• You don't have any asset that's attachable at a judgment at all.

[26:20] Federal Lawsuits

• According to the American Bar Association, the statistics on federal lawsuits says a new lawsuit is filed every 16.5 seconds.

[29:26] Another mistake and what’s it like to file a lawsuit in the US

• Another common mistake is owning a property in your own name.
• A mindset that no one will sue you makes no sense.
• In the US, there are no consequences to sue somebody for no good reason.

[34:20] Bobby’s advice on implementing asset security

• Don’t own anything in your name.
• Have a properly structured LLC
• Wyoming is a preferred state unless you live there in which case use Nevada.

[37:37] Bobby’s “aha” moment

• Started a business in the 90's assembling bicycles for Walmart.
• An official letter from Walmart suddenly canceled his vendor contract as of that day. This was his big...

Gino Barbaro is passionate about multifamily investing, and he believes it’s about the strength of your WHY that determines your success. You must DECIDE you want to change your life, and if you do, you have no choice but to take massive action.

That’s what he did several years ago. Gino was in the restaurant business for 22 years, and he was burned out. He decided he needed to change his life, and he chose real estate to do it.

In this episode, he chronicles his amazing journey from pizza guy to full time multifamily investor. Despite setbacks, a bad partnership and an all consuming day job at the restaurant, he and his partner Jake did their first deal, a 25-unit in Knoxville TN. Today they own nearly 700 units and the sky’s the limit.

Together with Jake, he created Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best selling author of the book “Wheelbarrow Profits”.

About Gino Barbaro

Gino Barbaro is an investor, business owner and entrepreneur. He has been investing in real estate for 15 years and has grown his multifamily portfolio to 674 units in 3 years. He has teamed up with Jake Stenziano to create jakeandgino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best-selling author of “Wheelbarrow Profits”. Visit Wheelbarrow Profits Tutorial, an educational product focused on multifamily investing. Gino is a graduate of IPEC (Institute for Professional Excellence in Coaching) and is a Certified Professional Coach. He is also the author of the best-selling cookbook "Family Food and the Friars". He currently resides in New York with his beautiful wife Julia and their six children Gabriella, Michael, Sofia, Veronica, Cecilia and Laura. To learn more about Gino visit his website jakeandgino.com or Gino Barbaro.

Listen and be inspired by Gino’s story. Decide and Your Real Estate Success Will Follow.

Key Takeaways

[2:19] Gino’s background in the restaurant industry

[5:00] Gino’s rough start in real estate investing

No focus on a specific niche or market

Mobile home park failure

[8:41] Why Gino decided to invest in apartments

Didn’t want to rehab and flip properties

Less work than single family investing

Single family investing in the NY market didn’t work well

[12:44] The benefits of a partnership

Formed a partnership with Jake Stenziano in 2010

Your partner can help you see something you don’t see

Two minds better than one

Stronger balance sheet

[14:15] Gino’s and Jake’s first deal

Invested in an “Emerging Market”

Property was listed for 750K

Purchased for 500K

Value added buy - Lots of little things that added up

[19:45] Why it’s a good idea to self-manage your first deal

[24:23] Why you should explain your offer to the seller

[28:12] What’s next for Gino

Syndication

[29:29] Gino’s lightbulb moment

Realized he was wasting his time on mundane tasks

Left the restaurant industry

[35:00] Gino’s advice to a new investor

Find your reasons why

Focus on a market, get educated

[37:23] Why people want things but don’t act

Lack of a burning desire

Burning desire will lead to massive action

Example of Gino’s dad and the day he stopped smoking

[43:18] Favorite books

The One Thing

Rich Dad Poor Dad

Connect with Gino:

jakeandgino.com

Twitter

Facebook

Resources mentioned:

Wheelbarrow Profits Podcast

Book: Wheelbarrow Profits: How To Create Passive Income,

Gino Barbaro is passionate about multifamily investing, and he believes it’s about the strength of your WHY that determines your success. You must DECIDE you want to change your life, and if you do, you have no choice but to take massive action.

That’s what he did several years ago. Gino was in the restaurant business for 22 years, and he was burned out. He decided he needed to change his life, and he chose real estate to do it.

In this episode, he chronicles his amazing journey from pizza guy to full time multifamily investor. Despite setbacks, a bad partnership and an all consuming day job at the restaurant, he and his partner Jake did their first deal, a 25-unit in Knoxville TN. Today they own nearly 700 units and the sky’s the limit.

Together with Jake, he created Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best selling author of the book “Wheelbarrow Profits”.

Listen and be inspired by Gino’s story. Decide and Your Real Estate Success Will Follow.

About Gino Barbaro

Gino Barbaro is an investor, business owner and entrepreneur. He has been investing in real estate for 15 years and has grown his multifamily portfolio to 674 units in 3 years. He has teamed up with Jake Stenziano to create Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best-selling author of “Wheelbarrow Profits”. Visit Wheelbarrow Profits Tutorial, an educational product focused on multifamily investing. Gino is a graduate of IPEC (Institute for Professional Excellence in Coaching) and is a Certified Professional Coach. He is also the author of the best-selling cookbook "Family Food and the Friars". He currently resides in New York with his beautiful wife Julia and their six children Gabriella, Michael, Sofia, Veronica, Cecilia and Laura. To learn more about Gino visit his website Jake & Gino or Gino Barbaro

Key Takeaways

[2:19] Gino’s background in the restaurant industry

[3:54] The two types of motivation

• Moving towards pleasure or away from pain

[5:00]- Gino’s rough start in real estate investing

• No focus on a specific niche or market
• Mobile home park failure

[7:18] Why there’s no such thing as a mistake

[8:41] Why Gino decided to invest in apartments

• Didn’t want to rehab and flip properties
• Less work than single family investing
• Single family investing in the NY market didn’t work well

[12:44] The benefits of a partnership

• Formed a partnership with Jake Stenziano in 2010
• Your partner can help you see something you don’t see
• Two minds better than one
• Stronger balance sheet

[14:15] Gino’s and Jake’s first deal

• Invested in an “Emerging Market”
• Property was listed for 750K
• Purchased for 500K
• Value added buy - Lots of little things that added up

[19:45] Why it’s a good idea to self-manage your first deal

[24:23] Why you should explain your offer to the seller

[28:12] What’s next for Gino

• Syndication

[29:29] Gino’s lightbulb moment

• Realized he was wasting his time on mundane tasks
• Left the restaurant industry

[35:00] Gino’s advice to a new investor

• Find your reasons why
• Focus on a market, get educated

[37:23] Why people want things but don’t act

• Lack of a burning desire
• Burning desire will lead to massive action
• Example of Gino’s dad and the day he stopped smoking

[43:18] Favorite books

• The One Thing
• Rich Dad Poor Dad

Connect with Jeno:

Vinney “Smile” Chopra shares his amazing journey from arriving to this country from India with $7 in his pocket to building a $70M multifamily real estate empire. In this episode, we focus in particular on how he started his multifamily investing career and how he eventually raised $1.1M to do his first two deals.

After having graduated from George Washington University, Vinney became a mechanical engineer. He was fascinated by sales and marketing and sold encyclopedias and bibles door-to-door. For several decades, he was a professional fundraiser for non-profit organizations. He started investing in single family houses in the mid-eighties, but in 2007 he became passionate about multifamily investing. Since then, he’s done $125M worth of real estate transactions and currently controls over 1,400 units.

Vinney’s middle name is “Smile” because that what he did a lot during our interview. Here are the topics we cover on the podcast:

• Why he decided to get started with real estate. Too much work! Couldn’t really scale.

• His first venture into MF: hard!, it took 12 months. It seemed impossible. He ended up closing a 14-unit and then a 109 unit just several weeks afterward, raised $1.1M.

Key Takeaways:

[7:30] Vinney’s start in real estate investing

• Started with single family housing

• Planned on selling the homes to fund retirement

[12:47] Vinny’s preferred method of learning

• Youtube

• Google

• Podcasts (12-15 per week)

[13:31] Why positive thinking is so important if you want to achieve your goals

[18:13] Why Vinney decided to stop investing in single family housing

• Minimal economies of scale

• Risk of 100% vacancy

• After the crash of 2007 lenders would only loan on multifamily housing

[20:33] Why Vinney recommends finding a partner

• Encouragement through the tough times

[26:17] Why you should talk to a syndication attorney before raising money

• Vinney’s syndication attorney: Kim Taylor

[28:00] Vinney’s very first deal

• 14 unites

• Closed on 109 units soon after

[32:14] How Vinney raised money for his first deal

• Hustled!

• Decided not to accept money from friends or relatives

• Designed a great presentation

[38:55] How one happy investor can lead to 30 more

Connect with Vinney

Phone: 925-766-3518 (call or text)

Email: [email protected]

Vinney’s course on syndication: realestateu.tv

Learning how to find and analyze multi-family deals is important, but if you can’t afford to fund it yourself, you need a strategy for raising money! Doing what everyone else is doing to raise money is less and less effective, and that’s why I’ve invited Richard Wilson on the podcast to talk about raising money. Richard’s business isn’t just about raising money for real-estate, but we can adopt many of the strategies that Richard talks about to raise money for our multi-family deals!

About Richard Wilson:

Richard Wilson helps $100M+ net worth families create and manage their single family offices and currently manages 14 clients including mandates with three billionaire families. Richard is also the founder of the Family Office Club, the largest membership-based family office association. Richard hosts the "The Family Office Podcast", and he is the author of the #1 bestselling book in the family office industry, The Single Family Office: Creating, Operating, and Managing the Investments of a Single Family Office. He is a sought-after speaker and has spoken at over 150 conferences in 17 countries. Richard currently resides on the island of Key Biscayne, Florida with his wife and two daughters.

Enjoy the interview!

Key Takeaways:

[1:54] Definition of a Single-Family Office: Private company that manages investments and trusts for a single person or family.

Many wealthy people prefer to put their money back into operating businesses.

[9:27] Richard’s experience raising money

Around 250 million raised

[9:56] Richard’s strategies for raising money

Stop pitching people. They don’t like it.

Start educating people. Provide real value to other people that are already in the game.

[13:02] There are experts in your niche that don’t compete with you but have enormous credibility. Find ways of efficiently connecting them to each other, (like through a podcast), and you will get Triple ROI:

Getting value out of their brain

You will gain a connection to this person

Now everyone knows your well connected and educated

[15:39] Richards advice on raising money from private investors.

Analyze your competition and what you offer. Know what’s really going on in your industry.

Identify your position so that almost no one can compete with you.

Architect exactly how you will attract the people based on your unique

Execution

Iteration

[20:45]- When you layer communities, you create good luck.

[23:44] What Richard would do if he had only 500 bucks and a laptop (EO Fire Podcast question)

Position himself to own a checkpoint and find a way to control a critical resource.

Own something that is a bottleneck in your industry

[29:03] Special offer:

Download the first 4 chapters of the Capital Raising Book here: http://capitalraising.com/the-capital-raising-book/

Resources mentioned:

Family Office Podcast: Real Estate Investments, Co-Investing, Capital Raising, and Private Equity Business Strategies: https://itunes.apple.com/us/podcast/family-office-podcast-real/id849850253?mt=2

Vinney “Smile” Chopra shares his amazing journey from arriving to this country from India with $7 in his pocket to building a $70M multifamily real estate empire.  In this episode, we focus in particular on how he started his multifamily investing career and how he eventually raised $1.1M to do his first two deals.

After having graduated from George Washington University, Vinney became a mechanical engineer. He was fascinated by sales and marketing and sold encyclopedias and bibles door-to-door. For several decades, he was a professional fundraiser for non-profit organizations. He started investing in single family houses in the mid-eighties, but in 2007 he became passionate about multifamily investing. Since then, he’s done $125M worth of real estate transactions and currently controls over 1,400 units.

Vinney’s middle name is “Smile” because that what he did a lot during our interview. Here are the topics we cover on the podcast:

• Why he decided to get started with real estate. Too much work! Couldn’t really scale.
• His first venture into MF: hard!, it took 12 months. It seemed impossible. He ended up closing a 14-unit and then a 109 unit just several weeks afterward, raised $1.1M.

Key Takeaways:

[7:30] Vinney’s start in real estate investing

• Started with single family housing
• Planned on selling the homes to fund retirement

[12:47] Vinny’s preferred method of learning

• Youtube
• Google
• Podcasts (12-15 per week)

[13:31] Why positive thinking is so important if you want to achieve your goals

[18:13] Why Vinney decided to stop investing in single family housing

• Minimal economies of scale
• Risk of 100% vacancy
• After the crash of 2007 lenders would only loan on multifamily housing

[20:33] Why Vinney recommends finding a partner

• Encouragement through the tough times

 [26:17] Why you should talk to a syndication attorney before raising money

• Vinney’s syndication attorney: Kim Taylor

[28:00] Vinney’s very first deal

• 14 unites
• Closed on 109 units soon after

[32:14] How Vinney raised money for his first deal

• Hustled!
• Decided not to accept money from friends or relatives
• Designed a great presentation

[38:55] How one happy investor can lead to 30 more

 

Connect with Vinney

Phone: 925-766-3518 (call or text)

Email: [email protected]

Vinney’s course on syndication: realestateu.tv

Listen in as Mark Walker shares how he replaced his income from his high-tech job with passive income from multifamily properties.

Learning how to find and analyze multi-family deals is important, but if you can’t afford to fund it yourself, you need a strategy for raising money! Doing what everyone else is doing to raise money is less and less effective, and that’s why I’ve invited Richard Wilson on the podcast to talk about raising money. Richard’s business isn’t just about raising money for real-estate, but we can adopt many of the strategies that Richard talks about to raise money for our multi-family deals!

About Richard Wilson:

Richard Wilson helps $100M+ net worth families create and manage their single family offices and currently manages 14 clients including mandates with three billionaire families. Richard is also the founder of the Family Office Club, the largest membership-based family office association. Richard hosts the "The Family Office Podcast", and he is the author of the #1 bestselling book in the family office industry, The Single Family Office: Creating, Operating, and Managing the Investments of a Single Family Office. He is a sought-after speaker and has spoken at over 150 conferences in 17 countries. Richard currently resides on the island of Key Biscayne, Florida with his wife and two daughters.

Enjoy the interview!

Key Takeaways:

[1:54] Definition of a Single-Family Office: Private company that manages investments and trusts for a single person or family.

• Many wealthy people prefer to put their money back into operating businesses.

 [9:27] Richard’s experience raising money

• Around 250 million raised

[9:56] Richard’s strategies for raising money

• Stop pitching people. They don’t like it.
• Start educating people. Provide real value to other people that are already in the game.

[13:02] There are experts in your niche that don’t compete with you but have enormous credibility. Find ways of efficiently connecting them to each other, (like through a podcast), and you will get Triple ROI:

• Getting value out of their brain
• You will gain a connection to this person
• Now everyone knows your well connected and educated

[15:39] Richards advice on raising money from private investors.

1. Analyze your competition and what you offer. Know what’s really going on in your industry.
2. Identify your position so that almost no one can compete with you.
3. Architect exactly how you will attract the people based on your unique
4. Execution
5. Iteration

[20:45]- When you layer communities, you create good luck.

[23:44] What Richard would do if he had only 500 bucks and a laptop (EO Fire Podcast question)

• Position himself to own a checkpoint and find a way to control a critical resource.
• Own something that is a bottleneck in your industry

[29:03] Special offer:

• Download the first 4 chapters of the Capital Raising Book here: http://capitalraising.com/the-capital-raising-book/

Resources mentioned:

Family Office Podcast: Real Estate Investments, Co-Investing, Capital Raising, and Private Equity Business Strategies: https://itunes.apple.com/us/podcast/family-office-podcast-real/id849850253?mt=2