Tue, 24 September 2019
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin brings in real estate expert, Lee Kearney. Lee’s business is primarily in single family residences and he’s one of the nation’s most active and successful investors. He is known to be a master at scaling real estate businesses.
In the podcast, Lee talks about how he got started in real estate. He tells the story of how he recovered from the financial crash and what he learned from it. Kevin talks about the importance of laying down processes and implementing management strategies for maximum returns.
Lee explains how he scaled his real estate business and how his team conducts and manages in-state and out-of-state deals successfully. Kevin and Lee discuss single family and commercial real estate with Lee sharing some marketing strategies and explains how to find opportunities in the market. They also discuss Lee’s prediction of an imminent downturn. Lee shares his philosophies on hiring employees.
“I recommend to everyone out there, don’t start off trying to rehab houses out of your own market.”
“I learned a lot of things from the way institutions approach business, I’ve tried to institutionalize my business and I think that’s what makes us different.”
“Rather than chasing assets, I’m chasing sellers.”
“So I’m seeing a lot of new operators come in to the business and I think they’re over leveraged.”
“I focus on three things: systems, processes and people. All three are important.”
8:36 Lee’s background and his start in real estate
15:51 Businesses processes and strategies
18:06 Out-of-state deals and scaling the business
24:01 Marketing strategies in single family and commercial real estate
30:15 Lee’s predictions
36:21 Hiring and attracting new talent
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Direct download: Real_Estate_Investing_for_Cashflow_247_edited.mp3
Category:general -- posted at: 8:54am EDT
Tue, 10 September 2019
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin talks to real estate and self-storage expert, Kris Benson. Kris is a managing principle at Reliant Investments, a subsidiary of Reliant Real Estate Management, a top 30 operator in the self-storage space. Kris oversees investor relations and equity contributions for Reliant’s portfolio expansions.
In this podcast, Kris shares his inspiring decision to leave his job and pursue business in real estate. He explains how and he got into self-storage real estate and talks about advantages of getting into this asset class. Kris also talks about his involvement with Reliant real estate management and explains how and why he stays with the company.
Kevin and Kris dive further into self storage real estate and discuss the current market in comparison to other asset classes. Kris shares some perspective on the business and talks about value-adds, supply and demand, the risks, opportunities and other things to be considered when acquiring space for development. Kris also tackles marketability and pricing in this highly competitive and dynamic market.
“I’m a big believer that everything in the market that’s going to happen has happened in the past and so for us, it was a function looking at what happened in the last recession and understanding how the asset class was affected.”
“My role is managing and kind of institutionalizing he equity arm of our business so that as we’re growing our portfolio, we have access to equity along the way.”
“At some point, you have to jump in, even if you’re uncomfortable, that’s where you’re going to do the most learning.”
“Our sweet spot really is not too similar than multifamily where you’re trying to find kind of that C property in a B+ or A area.”
“Our pricing definitely changes depending on what we’re seeing because when a facility opens up, most of the time they’re going to drop the rates to get you in the door, and then slowly burn off those discounts and concessions as they go.”
6:07 Kris shares his background and perspective on deals
9:58 How Kris got into the self storage asset class
15:26 Kris’s involvement with Reliant Investing
21:56 Kevin and Kris talk about self-storage space
34:18 Retrofit projects
39:40 Self-storage pricing
43:57 Buying opportunities
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Direct download: Real_Estate_Investing_for_Cashflow_246_edited.mp3
Category:general -- posted at: 8:41am EDT
Tue, 3 September 2019
Ep #245: Building a Vertically Integrated Property Management Company Versus Outsourcing to a Third Party
In this episode of the Real Estate Investment for Cash Flow podcast, Kevin brings in his good friend, James Kandsamy.
“I realized that there’s a lot of magic in multifamily commercial real estate because of the fast appreciation so I said ‘I’m moving to commercial real estate.’”
9:24 James’ background and how he got into multifamily real estate
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Direct download: Real_Estate_Investing_for_Cashflow_245_edited.mp3
Category:general -- posted at: 3:50pm EDT