Real Estate Investing for Cash Flow with Kevin Bupp

Latest Episodes:

Ep #75: Actionable lessons and strategies from Multi-Family Industry Expert - John Wilhoit Jun 22, 2015

Show notes

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

Cash Flow Friday Tip #23: No doesn't mean "NO" forever when it comes to making offers on properties Jun 19, 2015

Show notes

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

Ep #74: Strategies for Finding Private Money to Fund Your Real Estate Business - with Mark Hanf Jun 15, 2015

Show notes

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

Ep #73: Crowdfunding talk with Realty Mogul Founder and CEO - Jilliene Helman Jun 08, 2015

Show notes

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

Cash Flow Friday Tip #21: How to avoid this common HVAC scam Jun 05, 2015

Show notes

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

Ep #72: Expert Advice from Multifamily Owner & Property Manager - Mike Sherwood Jun 01, 2015

Show notes

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

Cash Flow Friday Tip #20: Figuring out your "WHY" and how to use it to grow your RE business May 29, 2015

Show notes

In this week's Cash Flow Friday tip we're going to talk about the importance if figuring out your WHY, and what I mean by this is what are the reasons you want to be a real estate investor. This is an extremely important exercise and is one that I suggest every investor, both new and seasoned, do in order to create a roadmap for their investing career. This is an exercise which I learned from Jeremy Cyrier who was a past guest on our show and is a very successful real estate broker, trainer, and investor. I went through this exercise when I was first introduced to Jeremy and it's had a significant impact on my overall focus as a real estate investor.

For example, my WHY is the following: Spending as much time as possible with my family is priceless because none of us are guaranteed tomorrow and commercial real estate investing provides the vehicle that can generate enough passive income for my family and I to live the lifestyle that we choose and spend the maximum amount of time together traveling the world and experiencing all life has to offer. I will make this a reality by focusing solely on acquiring a significant portfolio of mobile home parks and apartment buildings which can produce a yearly passive net income stream of at least 500k. Based on my calculations this should take approximately 1000-1500 rentable units to achieve my investment goals.

So there you have it, in a nutshell that is my WHY and this is what I work towards every day. You can develop your own why by answering these following 5 questions and then forming them into one continuous statement. I suggest that once you have your WHY statement completed that you review and tweak on a regular basis and have it in plain sight for all to see. I also suggest that you share it with your family and friends and anyone else who you feel might help hold you accountable to this mission.

5 questions:

Briefly describe what it is you want to do: For example: I want to own 4 apartment buildings in Southwest Florida totaling 500+ doors which produce in excess of 250k in passive income each year.
Now describe how you will do it. For example: I will do this by building a relationship with every apartment broker in SW Florida and by sending direct mail to all buildings that meet my general criteria
Describe why you want to do it. I believe that owning 500+ doors in SW Florida will afford my wife and I the luxury to quit our full-time jobs and travel the world with our 2 kids. Owning 500+ doors will also provide a much more secure retirement plan for our family and will allow us to send our kids to the colleges of their choice.
Why do you want this for yourself? Example: Because my family is my world and I want to opportunity to spend every available minute with them and owning 500+ doors will provide me with that time.
What are some other reasons you want this? Example: Because I believe that you should enjoy what you do and both my wife and I are unhappy in our current careers . Real estate can be our escape and can offer the enjoyable career path that we both seek.

Now after you've come up with your answers to these 5 questions now what you'll need to do is start with the #5 answer and work backwards and merge them together to form a statement or sentence. So merge #5, #4, #3, #2, #1 together and you'll end up with your why.

Please don't dismiss these type of exercises as they allow you to think through what you envision your future should be like. You can have anything you want in this life if you work hard enough for it and plan accordingly and this offers a way for you to plan for your real estate investing success. I promise that if you take the 20-30 minutes to complete this that you'll be glad you did and will have a much clearer focus. And if you need some guidance on coming up with your WHY statement just reach out to me and we can walk through it together. Go to KevinBupp.com and scroll to the bottom right corner and click the button to schedule a call with me.

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

Cash Flow Friday Tip #19: Why CAP rate isn't king and can sometimes be misleading May 22, 2015

Show notes

In this week's Cash Flow Friday tip we're going to talk CAP rates and why you as an investor need not to get too hung up on this arbitrary number when looking at deals...especially value-add deals. This topic comes as a direct result of a deal our company has been pursuing now for the past few weeks and just got an accepted offer on. I'm going to provide the background of the story regarding this specific deal so you can fully understand why if you were only searching for deals based on a specific cap rate you probably would have passed on this property and you wouldn't be alone because I'm sure there are many others who passed on this deal I'm about to tell you about in today's show.

Also, I wanted to give a shout out again to Marco Santarelli from Norada Real Estate Investments for his contribution to the topic we covered in last week's cash flow Friday tip #18. If you haven't had the chance to listen to it I suggest you go and check it out, and if you're not familiar with Marco's blog be sure to go and have a look because it's chalk full of incredible information regarding real estate investing and you can check it out by going to Norada Real Estate

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

Ep #70: Zero to 1,300 Apartment Doors in 5 years - with Chris Urso May 18, 2015

Show notes

This week we're going to speaking with multifamily investment expert, Chris Urso. Chris is the president and founder of URS Capital Partners and has one heck of an impressive story since he went from owning zero multi-family properties in 2010 to more than 1,300 doors today, and in addition to this he has raised more than $18 million of private capital to fund his growing real estate empire.

Chris is as real as they come and I’m positive that you’ll enjoy his story and gain a ton of value from what he has to share with us today

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

What it took for him to realize that single family investing was a slow way to building massive wealth as a real estate investor
The story behind his first multifamily deal and what he learned from the experience.
How he was able to use the residential bird dogs he already had relationships with to help him find multifamily deals
The economic drivers he looks for in markets he invests in
Why you need to become an absolute expert in any given market before investing in it
Why he invests with a 1-5 year horizon in order to keep momentum going for his business
How he was able to persuade a partner with strong financials and wall street experience to get his first large 100 unit building done
Why he suggests using loopnet to source brokers for a particular market and asset type
Why he also suggests to not ignore overpriced deals on loopnet and to make an offer…no matter what.
Why he suggests to always do your due diligence and not take anyone’s word especially the brokers.
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 Chris and his company, please visit www.URScapitalpartners.com

Cash Flow Friday Tip #18: Understanding the difference between linear & cyclical real estate markets May 15, 2015

Show notes

In this week's Cash Flow Friday tip we're going to talk about linear and cyclical real estate markets and how to identify each. It's vitally important to know which of these markets you're current invested in so that you can properly plan your overall investment strategy. And I want to be sure to give credit where credit is due and acknowledge Marco Santarelli from Norada Real Estate Investments because this topic we'll be speaking about today was a result of one of his recent blog articles. Marco is a incredibly astute real estate investor and is an expert at what he does. His company Norada Real Estate Investments are one the early pioneers of the turn-key investment space and have been at it for more than 13 years making them the absolute experts in this space.

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

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