Owner Operated with Jonah Pollone

We're back! Things have heated up at MidStreet, so Owner Operated is on pause for the time being. I plan on launching something very special as a V2.0, so stay tuned...

Kevin Reinert is the owner of Professional Restoration Services, a property damage remediation company based in Raleigh, North Carolina. PRS covers fire damage, mold removal, smoke odor, and more. He is a licensed general contractor with previous experience in running Kevin Reinert Homes, a residential homebuilder he ran until work stopped coming in the housing market crash of 2008.

Know someone with a property damage issue in the Triangle area of NC? Visit https://prshelp.com/.

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Thank you to our sponsors:

MidStreet Mergers & Acquisitions: https://midstreet.com/

On Tops Roofing: https://www.ontopsroofing.com/

Artem Lopatchenko is a real estate investor and owner of the Cary-Apex Advantaclean franchise in North Carolina. He is also an Adjunct Professor in Accounting at Western Connecticut State University and is a licensed CPA. Along with his business partner Dan, he recently acquired the rights to an ACE Handyman Services business in the Greater Triangle and Johnson County area of North Carolina.

For a summary of the episode, visit https://jonahpollone.com/newsletter/

Email Artem to support his efforts to help the people of Ukraine: [email protected]

Visit Advantaclean here: https://www.advantaclean.com/cary-nc/

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Thank you to our sponsors:

MidStreet Mergers & Acquisitions: https://midstreet.com/

On Tops Roofing: https://www.ontopsroofing.com/

Alex Mihajlov and Trevor Chambers are wealth advisors at Olde Raleigh Financial Group, an independent financial advisory firm in Raleigh, NC.

For a summary of the episode, check out https://jonahpollone.com/newsletter/

Visit Olde Raleigh Financial Group: https://www.olderaleighfinancial.com/

Billy Van Eaton is the owner of Cumberland Landscape Group, a regional, full-service commercial landscaping company in Atlanta, Georgia. He also runs a holding company for business acquisitions called Talents Equity.

For a summary of the episode, check out https://jonahpollone.com/newsletter/

Support Cumberland Landscape Group here: https://cumberlandlandscapegroup.com/

Jeff Johnson is the owner of Power Mulch, a material blowing company based in Smithfield, North Carolina. For a summary of the episode, check out https://jonahpollone.com/newsletter/

Support Power Mulch here: http://powermulchinc.com/

Katherine Dunlevie is the Executive Vice President and Managing Director of the Family Office at Synovus, a family office headquartered in Columbus, Georgia, focusing on families with wealth in excess of $25 million.

We covered:

- What is a family office?

- When does it make sense for a family to hire a family office?

- Starting in the business right before signing a 55-family member client with 17 family units.

- Single vs. Multifamily Office

- Qualities of successful family businesses

- Using trusts as planning entities

- Using communication to solve family issues

- Top recommendations for family business owners

- UNC Family Enterprise Center Resources

- Family business peer councils

- Servant leadership

- Seeking out mentors

- Family Business Magazine

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Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/

Know a business owner looking to exit in the next few years?

Visit https://www.midstreet.com/

Have a neighbor in the Triangle who needs a new roof? Check out https://ontopsroofing.com/

Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpollone/

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Learn more about Synovus here: https://www.synovusfamilyoffice.com/

Reach out to Katherine here: [email protected]

Learn more about the UNC Family Enterprise Center: https://familyenterprise.unc.edu/

Connect with the Family Enterprise Center on LinkedIn: https://www.linkedin.com/company/family-enterprise-center-kenan-flagler-business-school/

Nick Earls and Eric DiNicola are co-founders and managing principals of Winterspring Capital and co-owners of PWN Development based in the Greater Boston area. Winterspring Capital is a real estate syndication firm with a portfolio of $56 million in multifamily assets under ownership throughout the Southeast and Boston.

We covered:

- Getting started in real estate development

- Balancing development with long-term hold investment propertiesSelf-funding deals vs. raising capital

- Real estate syndication: 506B vs. 506C rules

- Buying real estate under LLCs vs. starting a real estate fund

- Hiring and managing sub crews and employees

- Handling partnership disagreements and best practices

- Don’t blame people. Even if it’s someone else’s fault

- The benefits of stoicism for small business and real estate professionals

- Dealing with inflation through investing in real estate

- Fractional ownership of properties through investing in real estate syndicationsWhy you should call local lenders first

- DTI (Debt-to-Income) Ratio when starting out in residential real estate"House Hacking" as a way to get into real estate investing

- How to protect yourself as a small business owner

Relevant show links:

- https://winterspringcapital.com/small-business/

- https://winterspringcapital.com/retire-early/

- https://winterspringcapital.com/what-is-a-real-estate-syndication-for-multifamily-investing/

- https://www.equitymultiple.com/blog/commercial-real-estate-practice/preferred-return

- https://www.samofinancial.com/what-is-syndication-and-why-use-different-rules-506b-versus-506c/

- https://www.investopedia.com/terms/a/accreditedinvestor.asp

- https://www.crowdstreet.com/resources/topics/investing/internal-rate-return

- https://dailystoic.com/

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Want to learn about selling or buying companies?

Visit https://www.midstreet.com/blog

Have a neighbor in the Triangle who needs a new roof? Check out https://ontopsroofing.com/

Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/

https://www.linkedin.com/in/jonahpollone/

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Learn more about https://winterspringcapital.com/

Support https://luckypuppysociety.org/

Mel Phillips is the president and co-owner of Product Recovery Management, PRM Filtration, and Triangle Stainless, alongside his brother, Brian Phillips. Operating out of a 150,000 square-foot facility in Butner, North Carolina, PRM manufactures environmental treatment systems and offers field services for equipment, including installation, setup, and maintenance.

We covered:

- Overcoming growth barriers in a small business

-The journey from electrical contracting to environmental remediation

- The benefits of acquiring companies in related industries

- Growing up in the family business

- Keeping work at work

- How to learn and improve from mistakes

- Why Mel recommended his daughters go to college

- A decade of financial hardships – what you don’t see

- How to hire and keep good people

- Where the business is headed

- More

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Visit shop.prmfiltration.com

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Subscribe to my newsletter to get updated every week with a new episode at jonahpollone.com

Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpollone/

John Rumsey is a co-founder and managing partner of RHA Wealth in Raleigh. John started his practice in 2020 and worked as a wealth manager under Merrill Lynch since 2010 prior to starting his own company. John originally thought he’d pursue a career in academia but transitioned to teaching people about how to better manage their money.

Lane Riley is the previous owner of Happy Home Heating and Cooling, a residential HVAC and plumbing services company that has been in operation since 1955. Lane purchased the company in 2010 and grew it from $1 million to $6 million in sales. In 2021, he sold the business and is now enjoying being semi-retired while considering his next business endeavor.

We covered:

• Acquiring a business using seller financing

• Going from 7 to 21 employees

• How to grow sales and profitability in a home service business

• Prioritizing family over work

• A 3-criteria filter for making decisions as a business owner: is it good for the customer, employees, and business?

• Growing from 100 to 2,500 maintenance contracts

• Building skilled employees from the ground up

• The importance of consistently training your employees

• The secret to successful sales roleplay

• Marketing tips for service-based business

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https://www.happyhomeheatingandcooling.com/

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Subscribe to my newsletter to get updated every week with a new episode at https://jonahpollone.com/

Connect with me on LinkedIn: https://www.linkedin.com/in/jonahpollone