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Today's Flash Back Friday episode is from #594 that originally aired on May 23, 2023.
Elaine Stageberg is a psychiatrist, mother of four, and Owner of Black Swan Real Estate. She owns and manages a portfolio of over $330M in assets with a specialty in multifamily apartments. Through real estate investing, she reached financial freedom in her 30s and now helps others to do the same.
Guest Website: https://www.blackswanteam.com/
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Today's episode is from Mobile Home Park #57 that originally aired on March 30, 2017.
Charles and I will discuss mistake number 10 from our popular eBook, "The 21 Biggest Mistakes Investors Make When purchasing their First Mobile Home Park…and how to avoid them."
There is a reason that apartment builders erect their apartments close to population centers. After all, it's where all the people live! The same should be true for you when you look for a park to buy. We see many "great deals" on parks that are off in the boonies. But are these great deals?
You have to have demand for your product in order to run a successful business. Rural parks simply may not have the same demand as parks that are closer to town. You can fix many things in a mobile home park, but the one thing you can't fix is your location and your demand. Our program will show you the tried and true methods of figuring out if there is enough demand for your lots.
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Jack Bosch is a true rags to riches story that starts in Germany where jack was born. Jack moved to the U.S. to attend college with two suit cases and a nearly empty bank account. In the US is where he met his wife, Michelle. Fast forward to today and they have flipped over 5,000 properties and built a massive empire buying and selling raw land.
Connect with Jack Bosch: https://www.jackbosch.com/
Highlights:
1:35 - From Germany to America
3:32 - How to Find/Flip Land
11:30 - Subdivide Model/ Differences
17:58 - Default Rates/Economic Cycles
25:00 - Wealth Preservation
Quote: "Pain is a very powerful trigger for change."
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Today's Flash Back Friday episode is from #588 that originally aired on May 7, 2023.
Crystal Caruthers is the co-founder of Chromis Capital, a value-add commercial investment group that specializes in industrial and retail assets. Crystal's expertise lies in finding off-market bargains, dealing directly with sellers, and crafting creative win-win deals. Her business has been carefully built around the desire to be fully present with her husband and children all while lending the flexibility to travel as a family unit.
Quote: "I firmly believe in being educated on everything you might want to do. It's well worth paying for some good education or else you learn it the hard way…which also costs money."
Highlights:
05:11: Using wholesaling to supplement your real estate investments
09:27: How commercial deals helped Crystal to scale faster
17:15: Breaking down Crystal's first retail deal
23:00: Using auction sites to buy industrial properties
31:04: Crystal's favorite way of finding vacant properties
32:09: How Crystal's family is involved with her investment business
Guest Website: https://www.facebook.com/crystal.caruthers/
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Today's episode is from Mobile Home Park #98 that originally aired on Oct. 23, 2018.
Often times, insuring your investment property will not come through a large insurance house like State Farm. There are many special cases mobile home park owners will need to account for in order to ensure all bases are covered. Kurt goes through the list of 10 major pitfalls park owners face when choosing insurance, and how to deal with them. HIGHLIGHTS: 7:07 - Kurt's Background 12:29 - What is the first biggest mistake when finding insurance? 22:34 - Overinsure? 39:20 - Data Breach & Discrimination coverage? 51:22 - Kurt's words of wisdom
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Nik Patel is a seasoned CPA and the principal of Patel Tax and Advisory. His specialty niches are in hospitality, franchises, restaurants, and real estate, but Nik also focuses on fractional CFO services for small and medium sized businesses as well as comprehensive tax advisory. In addition to his tax profession, Nik also has an investment portfolio that consists of parking garages, self-storage, multifamily and commercial real estate.
Connect with Nik: cpapta.com
Highlights:
1:50 Nik's Background, Starting his Firm
3:50 - Insight Into Nik's Business
7:16 - Syndication Benefits
14:32 - Tax Efficiency, Investments
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Today's Flash Back Friday episode is form #711 that originally aired on Feb. 26 2024.
Saul Zenkevicius is the managing partner and CEO of Brait Fund, a commercial investment group based in the Chicago land area that focuses in both value-add industrial and retail investments. Saul has built a reputable career in the Commercial Real Estate sector over the past 15 years. As a principal and owner, he has been personally involved in over 200 transactions, emphasizing his hands-on approach in the industry. Over the past five years, Saul has established a Commercial Real Estate portfolio valued at $80M, covering an impressive 1.2M square feet.
Highlights:
6:53 - Saul's Push From Residential to Industrial
14:17 - What a Typical Industrial Deal Looks Like
26:20 - Creating Mall / Determining The Use
33:14 - "Before I Buy"
39:00 - The Beauty of Truck Parking Facilities
Quote: "I want to buy something and double it's value with my efforts."
Connect with Saul: substack
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Today's episode is from Mobile Home Park #107 that originally aired on March 12, 2019.
Kevin Bupp speaks with manufactured housing finance expert Jerry Muir. He is Managing Director at Greystone working with the Agency Lending Team with a primary focus on building out and expanding their manufactured housing lending platform.
Jerry is a 25 year veteran of Fannie Mae and, during his time as Director of Multifamily Credit underwriting Fannie Mae, was responsible for a 12-state southeast region.
He had dual roles in developing and managing the manufactured housing community lending platform. Impressively, he has overseen north of 10 billion in financing.
Quotes:
"You might not have the prettiest homes in there but if it's a well-run community, it's stable, it's going to do well."
"Our manufactured housing community, because you've got so much stability because it costs so much for a resident to take his home and move it to another park (I mean it could be in excess of $7000), they're not just going to move down the road like in the multifamily property."
"If you've got a tier 2 loan on the property and you want to do a supplemental, you would get tier 2 pricing on the supplemental, basically."
"Their regulator, the FHFA, basically restricts the amount of business the two agencies can do and they call it cap or uncapped business. An uncapped business is they can do as many loans as they want in that space."
"They really open to more people and make it more affordable for them to get into a home and get into a park, no question about it. "
Episode Topics:
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Patrick is the founder and CEO of Passive Investing Mastery, private equity firm specializing in non-correlated passive alternative investments in real estate, private debt, litigating finance, and energy. Starting with single-family rentals, Patrick has been investing in alternative investments since 2007. He founded the private equity firm Invest On Main Street and scaled his holdings to a portfolio of 5,000 apartment units valued at over $600M in five states across the south eastern United States and Texas. He then created Passive Investing Mastery with the mission to educate investors in the art of alternative investing strategies and to sponsor best-in-class investments.
Connect with Patrick: Passiveinvestingmastery.com/book
Highlights:
2:00 - Patrick's Journey to Discovering Real Estate
14:42 - Access/Industries You Want to Invest In
18:17 - Securing Deals
22:58 - Litigation Finance Strategie
25:10 - Important Investment Strategies
Quote: "It is important for individuals to risk there own capital and put themselves into a corner that they have to fight their way out of."
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Today's Flash Back Friday episode is from #213 that originally aired on Jan. 22, 2019.
Without access to a high net worth individual or family office, are you out of options to syndicate real estate deals? Not quite. Scott Maurer of Advanta IRA knows of a method to solicit funding from the untapped trillions locked away in the average American's retirement accounts; via a self-directed IRA. Kevin and Scott discuss the self-directed IRA as a vehicle for average investors to purchase real estate using their IRA funds; converting their traditional IRA into a structure that is allowed to invest in assets outside the confines of the stock market.
HIGHLIGHTS: 6:58 - What is Scott's Background? 9:23 - Why are self-directed IRAs rare? What can you do with one? 15:35 - Pros & Cons of investing in RE through an IRA structure. 21:32 - What's the advantages of working with Advanta? 24:48 - How to raise capital from self-directed IRA account holders. 32:01 - Closing thoughts.
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