Real Estate Investing for Cash Flow with Kevin Bupp

In this episode of Real Estate Investing for Cashflow, Kevin welcomes real estate and technology expert, Diane Vrkic. Diane is the founder and CEO of Waypoint, a platform whose mission is to build tools that let real estate owners and operators capitalize on their data and maximize performance of their teams and portfolios.

In the podcast, Diane talks about finding her calling in real estate while being a medical student and how she came to identify some problems in the way the business operates. Diane then gives a detailed outlook on how Waypoint works and how the platform's operational services differ in terms of the client's company size. She also shares some important values in Waypoint's company culture and how their team is motivated.

QUOTES:

"What you really have to do is to find something that you really love doing, it can't just be the idea of what you're doing, it has to be the day-to-day.."

"What's really interesting to me about real estate is that all the information is done manually, and it's done on a one-off basis for individual assets, the information is not able to be leveraged in a meaningful way and the work kind of sucks."

"When you have wonderful, exceptional people, you have to enable them to be thinking above and beyond, so that you're continuously driving value in ways that your competitors are not."

"Every investment professional needs to have all of the information about every one of their investments at their fingertips—they can do that within Waypoint, and then they can essentially have a system that's also working to support some of the work around tracking, managing, identifying when things are not working according to plan, and just allowing for there to be a system that is essentially a record for the day-to-day performance management."

"The common thread at Waypoint is that folks are really intrinsically motivated."

HIGHLIGHTS

• 8:27 Diane's background and how she got into real estate
• 17:01 What led Diane to found Waypoint?
• 27:03 How Waypoint works
• 32:34 The ideal client size for utilizing Waypoint's services
• 37:32 Diane talks about company culture and hiring staff

Job Opportunities with my Team: Click Here

Recommended Resources:

• Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
• Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
• Grab a free copy of our book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
• https://waypointbuilding.com/

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In this episode of the Real Estate Investing For Cash Flow Podcast, Kevin brings in Andy Poticha. Andy is involved in the unique and independent niche of designing and building cannabis facilities across the country. His team has designed and built twenty different cannabis specific projects.

Kevin and Andy dive into the topic of the cannabis industry and the unique nuances involving it. Andy shares how he got into the business and how this venture differs from the others. He also addresses certain challenges due to cannabis' reputation and shares some insights about the industry's rapid growth and what the future holds for his company's niche in the business.

QUOTES:

"The judgement of the success of a project for us is solely based on the unqualified recommendation from our clients."

"We didn't at the time ever think we were ever going to be a national business and lo and behold, new industry, new direction."

"Right now, medicinal cannabis is legal in thirty-three states and recreational cannabis is legal in ten."

"The reality of it is, our approach to this part of the business is really no different than anything else that we had done.."

"We function so that our clients can go off and do what they do best, which is to continue to grow their business and acquire more licenses and so on. And we, with their input, can handle all of navigating the minefields of the construction part of it."

HIGHLIGHTS

• 6:17 Andy's background and how he grew his company
• 14:45 The current state of the Cannabis industry
• 17:05 Andy talks about entering the niche and managing growth
• 24:54 Challenges along the way
• 29:05 Opportunities and getting into the space

Job Opportunities with my Team: Click Here

Recommended Resources:

• Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
• Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
• Grab a free copy of our book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
• https://cannabisfacility.net

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This episode of the Real Estate Investing for Cashflow podcast features real estate investment expert Mitch Stephen. Mitch started out buying manufactured homes in mobile home parks that he did not own and has been buying storage facilities for 28 years and currently owns 14 facilities in Texas.

Mitch talks about his background in mobile home parks and why he moved to self storage real estate. Kevin and Mitch dive into the economics behind storage real estate and Mitch's unique niche in boat and RV storage facilities located in Canyon Lake, Texas. Mitch also talks about the risks and challenges in the business and how his company was able to survive the recession.

QUOTES:

"I read a book called Nothing Down by Robert Allen and that guy had the audacity to suggest that I didn't need money to, you know...you could be broke and still be in the real estate game."

"The entrepreneur rarely ends up with the business that he starts, he's always morphing to the most money per least resistance."

"Storages are a perfect way to occupy some very valuable land and get paid while the city is growing to it."

"One thing you never want to say in the storage business is you're full. If you're full then your prices aren't high enough."

"The biggest challenge is water and making sure that the water runs off in the worst case scenario where you have 5 or 8 or 15 inches in a day that it's not gonna override your drainage."

HIGHLIGHTS

• 6:08 Mitch's background
• 11:24 How and why Mitch ended up in storage real estate
• 18:04 Mitch talks about economics behind his storage businesses for boats and recreational vehicles
• 25:02 Challenges, mistakes and risks in the business
• 28:35 How the financial crisis affects the boat and RV storage facilities

Job Opportunities with my Team: Click Here

Recommended Resources:

• Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
• Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
• Grab a free copy of our book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
• Nothing Down by Robert Allen (book)
• Forever Cash by Jack Bosch (book)
• My Life & 1,000 Houses by Mitch Stephen (book)
• Visit www.1000houses.com

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In this episode of the Real Estate Investing for Cashflow podcast, Kevin brings in real estate expert Greg Dickerson. Greg is a serial entrepreneur, real estate developer and mentor. Over the past 20 years he has bought, developed and sold over $200 million in real estate, built and renovated hundreds of custom homes and commercial buildings and started 12 different companies from the ground up.

Greg talks extensively about hotel real estate and shares a lot of information about the business, market selection, franchising and financing. Kevin and Greg give tips on how to apply one's self and bring value into any business. Greg also shares a little bit about his inspiring work ethic which is undoubtedly a key to his success.

QUOTES:

"There's no other way to get a gut feeling for the project than besides standing on the site, looking around, taking it in, I'll visit at night, in the morning during the day, that's how you do deals, that's how the business happens— out in the field, on site, boots on the ground."

"The metrics are the same wherever you go, the drivers for hotels are the same for multifamily in anything else you'll need."

"To this day, I do not guarantee debt, I do non-recourse loans."

"What I do is I stay away from deals where I refinance is part of the business plan.

"The process starts with a vision, so it's about being able to create a vision for a project and then leading a team to the finish line and getting that thing." HIGHLIGHTS

• 4:26 Greg's background
• 8:44 Greg talks about hotel real estate
• 14:11 Market selection, scalability and financing
• 19:47 Kevin and Greg talk about the financial crisis and mitigating risks
• 26:37 How to bring value to a business

Job Opportunities with my Team: Click Here

Recommended Resources:

• Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
• Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
• Grab a free copy of our book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
• Visit gregdickerson.com

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In this episode of the Real Estate Investing for Cashflow podcast, Kevin brings in self-storage expert, Scott Krone. With a solid background in architecture, Scott co-founded Coda Management Group, an international award-winning design firm which specializes in sustainable building practices.

Kevin and Scott dive into self-storage real estate, which has been Scott's more prominent venture. Scott shares a lot of valuable information about the factors and challenges concerning self-storage and how to identify building candidates for potential adaptive reuse. He also explains other aspects of the market such as financing and some market strategies.

QUOTES:

"The best way to make money in real estate is through the development process because you can control the acquisition price, you can control a lot more from the front end rather than trying to work the numbers backwards."

"The most important demographic that we look for is the amount of square footage of locker per capita."

"To me, the biggest factor in self-storage is not if the market is going up or down but it's how many other facilities are coming into my competition."

"We're looking for a building that's as regular as possible so you don't have any abnormal shapes or configurations that makes it difficult to put lockers in because the whole key to any building whether in self-storage, or apartments, or office is your efficiency and your rentable square footage."

"If we can build and buy below what our competition is, then we have a competitive advantage in terms of what we have to charge in order to get people into the door."

HIGHLIGHTS

• 5:55 Scott's background in architecture and his first foray into self-storage
• 12:46 Scott talks about their business model and demographics to look out for
• 17:40 Other factors and challenges in converting buildings to self-storage
• 21:30 What is PACE financing?
• 24:02 More common forms of adaptive reuse of buildings
• 30:07 Scott shares his longterm strategy

Job Opportunities with my Team: Click Here

Recommended Resources:

• Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
• Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
• Grab a free copy of our book "The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
• Visit www.codamg.com

Review and Subscribe