Real Estate Investing for Cash Flow with Kevin Bupp
Ep #76: Advanced Mobile Home Park Investing discussion with the 6th largest park owner in the US - Frank Rolfe

This week we're going to be doing a follow-up interview with Mobile Home Park Investment Guru, Frank Rolfe. Frank was our very first guest way back in January of 2014 when we first launched the show and I thought it would be awesome to bring him back on to get an update on his business and also dive into a little more detailed discussion about mobile home park investments.

If you are brand new to the show or if you know very little about mobile home park investments, then I encourage you to go back and listen to episode #1with Frank as it will act as a primer to today's more advanced show. 

Here’s a few things you’ll learn in our interview with Frank today:

  • An update on his business and how he's been able to amass more than 17,000 pads through 22 different states
  • What he likes and dislikes about buying properties from sites like Auction.com
  • Why he prefers city provided water/sewer and what you need to consider if you are looking at a park that has private utilities.
  • Why some banks don't like private utilities and what you need to know when shopping for financing.
  • The reason why Frank prefers using a loan broker for financing rather than going direct to the lenders himself.
  • The method that Frank uses to quickly evaluate a park to determine if it's a worth pursuing or if it gets sent to the trashcan.
  • Why he prefers parks that have a mixture of both older homes and newer, modern homes.
  • Why super Wal-Mart is a quick gauge that Frank uses to determine the strength of a small town
  • Why strong single family homes prices are demand drivers for mobile home parks
  • What things to look out for during your due diligence on the infrastructure on a park
  • How Clayton homes CASH program is revolutionizing the industry
  • How banks feel about park owned homes and how to properly evaluate them
  • How to properly find and hire a quality property manager for your park
  • The rule of thumb when raising rents in a mobile home park and things to consider.
  • Franks thoughts on investing in Michigan and what he likes about this state.
  • And much more

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
  • Learn more about Mark and his company, please visit www.MobileHomesUniversity.com  
Direct download: Final_Edited_Show_76_-_Frank_Rolfe.mp3
Category:general -- posted at: 8:09pm EDT

Cash Flow Friday Tip #24: Why self managing your rental properties is a HUGE no-no and what you can learn from my mistakes

In this week's Cash Flow Friday tip I'd like to discuss a recent dilemma I faced with the "one" property I self manage and how it added an obscene amount of stress during my recent 2 week family vacation to Europe and why it's prompted me to sell this property asap.

The takeaway lesson behind this recent personal story is why you need to focus on being an investor and never take on the role of being a landlord if your goal is to build a scalable real estate empire. Learn from my mistakes and be the smarter investor!

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
Direct download: final_edited_show_24.mp3
Category:general -- posted at: 4:00am EDT

Ep #75: Actionable lessons and strategies from Multi-Family Industry Expert - John Wilhoit

In this week's show we'll be speaking with MultiFamily industry expert, John Wilhoit. John is President of Wilhoit Investment Network, LLC, an owner and asset manager of apartments, condominiums and town homes. John's career has focused on high volume, large-scale multifamily communities including market rate and mixed-finance developments. He has previously held positions with the U.S. Department of Housing and Urban Development (HUD), Apartment Investment Management Company (AIMCO) and the Maryland Housing fund.

John is the author of two books: How to Read a Rent Roll and Multifamily Insight Volume 1. He is a prolific writer with more than 200 articles published related to multifamily acquisitions, property management, finance, market analysis and demographics.

Multifamily Insight is John’s blog that provides his perspective on the world of multifamily acquisitions, management and investing. Multifamily Insight is consistently at the top of internet search results for topics related to multifamily apartments, property management, asset management, finance, demographics, market analysis and acquisitions.

Here’s a few things you’ll learn in our interview with John today:

  • How he got his start in the business prior to becoming an owner/operator
  • The opportunity he saw in transitioning from flipping single family homes to multifamily properties
  • Why he prefers to purchase properties that are within a few hours driving distance of his home residence.
  • The sequential steps that John takes to indentify new promising sub-markets to invest in.
  • How he defines a sub-market and why this is important to understand
  • The reason you need to first indentify a qualified property management company prior to acquiring a multifamily property in a new market rather than the other way around.
  • Why he feels there's no such thing as a "quality" no down deal
  • What he would have done differently if he could go back to year 1 of his investing career
  • Wh y to never let the deal determine the market and why he feels you need to first target your markets and then seek deals within those markets.
  • Why he suggests that new multifamily investors start small (under 5 units) in order to take advantage of the easy to obtain residential financing.
  • The reason that you need to first determine your exit long before entering into a deal.
  • Why he suggests www.MultiFamilybiz.com for all those who are serious about staying up to date on news within the industry
  • And much more

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
  • Learn more about Mark and his company, please visit www.MultiFamilyInsight.com
Direct download: Final_edited_show_-_John_Wilhoit.mp3
Category:general -- posted at: 4:00am EDT

Cash Flow Friday Tip #23: No doesn't mean "NO" forever when it comes to making offers on properties

In this week's Cash Flow Friday tip I want to talk about the offer making process when buying income properly and why it's vitally important for you to have systems and processes in place to continually follow up with sellers and property owners "After" your initial offer was declined or after you lost a property to another buyer.

Let me tell you exactly what I mean by this. You see, being that we are all human and our lives are forever changing, circumstances have a tendency to change from day to day which means that although a seller might have declined your offer on Tuesday doesn't mean that their circumstances might change on Friday which will make them a more motivated seller. Throughout my 15+ years as an investor this theory has held true time and time again which has allowed me to buy multiple properties from owners who originally declined my original offer. Most investors take the approach of "once and done" and will completely lose interest in a deal if their original offer gets declined which is the complete wrong approach to take.

So here's what I want you to take away from this week's tip. Whether you're dealing with a broker or directly with a property owner it's your duty as a savvy investor to stay in constant contact with them after your initial offer was declined and this can be through either email or phone and it's up to you to choose the one that best suits that particular relationship. And with technology setting reminders for this type of activity are super simple by using many of the free CRM software systems available on the market, your smartphone, or even the old school method of writing it down in a planner. I don't care how you track it as long as you actually do it.

 

I can promise that if you'll significantly increase your number of accepted offers if you use this one simple technique, plus it will win you a ton of brownie points with brokers if it's a listed property. So as soon as you finish listening to this podcast I want you to create your follow up plan or system on how you plan to stay in touch with brokers or sellers who have declined your initial offer.

 Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
Direct download: final_edited_show_23.mp3
Category:general -- posted at: 4:00am EDT

This week we're going to speaking with Mark Hanf who is president of Pacific Private Money Inc., one of the fastest-growing hard money loan brokers in the San Francisco Bay Area. Founded a short time ago in 2008, Mark built his company from the ground up and to over $100 million in loan originations in just four years and has attracted more than 500 private investors to his lending practice.

Private money is a very important topic as it's somewhat the lifeblood of being a successful real estate investor. I have yet to meet a successful real estate investor who hasn't used private money in one form or another in their business. In today's show Mark shares some great pointers on how you the investor can start building your rolodex of private investors who can help you fund your next deal.

Here’s a few things you’ll learn in our interview with Mark today:

  • Understanding the difference between hard money and private money because they are two completely different things.
  • Why every investor needs to create a credibility package prior to pursuing capital for their deals and what to place in this package even if you don't have any real estate experience.
  • The best ways to find private individuals who are ripe for becoming for private lenders
  • Using meetup.com to find local real estate investment clubs to network and find potential partners and private investors
  • Attending self-directed IRA events to network and make friends with the attendees who are looking to use their IRA to invest.
  • Why you need to start your own meetup.com Real Estate club if there isn't one in your area that meets your needs
  • Why your investors always need to get paid first, even before you get paid
  • Why he feels that relationships are everything in this business and are by far your most valuable asset.
  • How referrals from your existing investors play a major role in developing your private money database
  • And much more

 Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
  • Learn more about Mark and his company, please visit www.PacificPrivateMoney.com
Direct download: final_edited_show_74_mark_hanf.mp3
Category:general -- posted at: 4:00am EDT

Ep #73: Crowdfunding talk with Realty Mogul Founder and CEO - Jilliene Helman

This week we're going to speaking with Realty Moguls founder and CEO, Jilliene Helman. Realty Mogul was founded in 2012 with a singular objective: Make it easy for investors to invest in real estate together. With over 15,000 active accredited and institutional investors the Realty Mogul community has invested over $70 million dollars in over 240 properties and there are no signs of slowing down.

When seeking out a crowdfunding expert to bring onto the show, several people told me that Jilliene is the person that I needed to talk to. It didn't take more than a few moments on the phone together to realize that she was the person with the expertise I was looking for.  She is wise beyond her years, gets straight to the point and says it like it is. If you didn't know it you would think she had been in the real estate industry for 30+ years based on her knowledge and the way she presents herself but she is only 28 years young and I'm positive that you'll be just as impressed with her as I was.

Here’s a few things you’ll learn in our interview with Jilliene today:

·       How crowdfunding is changing the real estate investment landscape as we currently know it

·       The benefits that Realty Mogul provides accredited investors who have an interest in participating in premium grade investment properties

·       The benefits that Realty Mogul offers to Real Estate investors who have the need for capital to fund their deals

·       The process Realty Mogul goes through to vet both the properties as well as the investors to achieve the best match

·       How realty mogul has been able to achieve an average return of 6-10% for their passive investors.

·       How they have been able to separate themselves from the other crowdfunding platforms available in the marketplace

·       What the future holds for real estate crowdfunding and why you need to be paying attention

·       What advice Jilliene recommends for those who are actively pursuing their first capital raise for a real estate investment.

·       And much more

 

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
  • Learn more about Jilliene and his company, please visit www.RealtyMogul.com
Direct download: final_edited_episode_73_Jilliene_Helman.mp3
Category:general -- posted at: 4:00am EDT

Cash Flow Friday Tip #21: How to avoid this common HVAC scam

In this week's Cash Flow Friday tip I'm going to share with you a very recent situation I encountered with an HVAC contractor on one of our properties here in Florida and how we almost got ripped off. This is an important lesson for anyone who is a landlord or owns income property and has a property management company handling their repairs.

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
Direct download: final_edited_episode_21.mp3
Category:general -- posted at: 4:00am EDT

Ep #72: Expert Advice from Multifamily Owner & Property Manager - Mike Sherwood

This week we're going to speaking with multifamily investment and property management expert, Mike Sherwood. Mike began his real estate investing career in 2007 like many of us do, which was by purchasing a small multifamily property to get his feet wet.  He bought this investment with the intention of living in one side and renting out the other which proved to be a very profitable approach for his first deal. This initial exposure to the world of real estate investing was all Mike needed to know confirm that he had found his calling as a real estate investor

 Fast forward a few years and Mike quickly jumped with both feet into the business by starting a full service property management company, fixing and flipping properties, running a local real estate investment club, as well as building his own multifamily real estate portfolio. And get this, this was all while working a full-time job.

Here’s a few things you’ll learn in our interview with Mike today:

  • How he built his multifamily portfolio and property management company while working full-time
  • The challenges with financing 5+ unit multifamily deals and why starting with a 4 unit or smaller might be easier for the first-time investor
  • How he found his first money partner  and how this relationship has spawned into a long term business partnership
  • The importance of building relationships with local banks and financing institutions
  • How he's finding most deals on the MLS
  • How he's dealing with a highly competitive marketplace
  • What he likes about Buffalo and why he says that it's a great place for investors who like cash flow
  • How forming a property management company has helped fund their real estate activities and also provides them access to off market deals
  • What the overall infrastructure of his property management company looks like and how he uses technology to help hold it all together
  • How he’s been able to grow his business remotely from 700 miles away
  • What he would change about his real estate business if he could go back and start all over again.
  • And much more

 

Recommended Resources:

  • Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
  • Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
  • Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
  • Learn more about Mike and his company, please visit www.CandMRental.com
Direct download: Final_edited_show_72_mike_sherwood.mp3
Category:general -- posted at: 4:00am EDT

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