EP27 – Kevin Bupp: Making Money with Mobile Home Parks

Posted on May 3, 2015 by admin

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Mobile Home Investing

It might not be the first asset class people consider when they start to invest in real estate, but there certainly are opportunities. Warren Buffett doesn’t involve Berkshire Hathaway in to businesses without great potential for return. Over 12 million live in mobile homes and post WWII manufactured housing has been the go-to solution for affordable housing. Potential for higher returns, increased tax incentives through deprecation and limited competition from new mobile home park developments are just some of the reasons this asset class should not be overlooked.

Our guest, Kevin Bupp, like many investors, got his start in single family homes, but soon realized that single family home investing did not offer the economies of scale to allow him to reach his lifestyle and financial goals. He saw an opportunity in mobile home parks, which tend to sell at higher CAP rates than apartments. Here are some highlights of our discussion with Kevin:

• Owning the land and not the trailer is the preferred form of ownership, as there is less management involved with the land.
• Management of a park is not that much different than running an apartment building
• Buyer competition is less intense at the moment than apartments, but the inventory is much lower as well
• City utilities is a big plus, as opposed to the park maintaining its own treatment plant or septic. If buying parks with septic, make sure the size is large enough so that you don’t lose a lot(s) if you have to upgrade the septic or rework it to bring it up to current code.
• Targets a 15% cash on cash return
• While based in Florida, he likes the Carolinas, Georgia, and the Midwest when seeking opportunities

Kevin also has his own podcast, Real Estate Investing for Cash Flow, where he covers many topics in commercial property, mobile home park and multifamily investing.

How to reach Kevin:

http://www.kevinbupp.com/

Real Estate Investing for Cash Flow – Podcast

EP25 {Podcast} What Should Canadians Know When Buying Real Estate in Florida?

Posted on April 18, 2015 by admin

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Florida continues to be a hotspot with Canadians. They are the largest foreign buyers of Florida housing. More than 500,000 Canadians currently own real estate in Florida. It is hard to name a town or city south of the I-4 corridor that doesn’t have a healthy population of Canadians…. Sarasota….Bradenton….Venice….Orlando…Kissimmee….Miami….Ft. Lauderdale….Palm Beach….Cape Coral….Ft. Myers….Tampa…..St. Petersburg….Naples….Marco Island to name a few.

While most of the Canadian buyers favor vacation or retirement homes on the coastal areas, Florida continues to offer a growth story for investors across commercial and residential asset classes. Florida recently passed New York as the 3^rd most populous state in US. The opening of the Panama Canal is predicted to grow the economy in Florida ports. And, most recently, the US government has taken action to ease the restrictions place on Cuba. Removing the more than 50 year embargo would have dramatic effects on both the Tampa and Miami economies, as well as their respective real estate markets.

Nick Podetz, of TD Bank and Jason Ansel of the law firm Altro Levy, join the Invest Florida team to discuss issues for Canadians to consider when buying US property.

Subjects covered are:

Canadians applying for a Mortgage – Canadian Mortgages on US property and US Mortgages on US property

Estate Planning Issues

Filing US taxes and tax planning to mitigate total tax paid

What are the liability issues?

Geographic areas and asset classes in which to consider investing

Should you hold title to US property in your children’s name?

Nick Podetz, Senior Manager, TD Cross Border Banking

Nick leads Cross Border Banking activities for TD Bank, responsible for overseeing the strategies and activities that help make banking across North America easy for customers investing in the US.

Jason Ansel, Associate at Altro Levy, a Canadian based law firm

Jason and his firm are dedicated to cross border Tax, Estate Planning and Real Estate Legal Services. He assists clients with the various issues on holding assets in the US for both business and personal use.

EP22 – How to Hold Real Estate in Your IRA

Posted on March 30, 2015 by admin

John Galane from Mountain West IRA discusses how to hold real estate inside of your retirement accounts. Those looking for cash flow and greater control of their retirement assets might consider self-directed plans.

Check out this episode!

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EP18 – Where to Begin: A Few Points on How to Start Investing in Real Estate

Posted on March 2, 2015 by admin

Investing in real estate can be a terrific method of accumulating wealth. But, where do you start? What asset class is best for you?To whom or where can you turn to put you on the path to success?

It can be quite intimidating for beginners trying to make decisions on which paths to take when they are getting started. No one is going to teach you everything that you need to know, but hopefully you can pick up some pointer on the path that best suits you. In this episode, we discuss some tools you might use to put you on the path to getting started in real estate investment….how to start investing in real estate!

Points

“It’s difficult to earn consistent revenue in the stock and bond market. Yields to Maturity on bonds are at historically low rates. Real estate, with proper underwriting, can produce superior, relative cash yields.”

“Owning real estate does not mean you are buying yourself a full time job. You can be as involved as you want. There are plenty of firms and services available to investors that can help investors manage their investments.”

Where to find resources?

Podcasts:

BiggerPockets

Real Estate Radio Guys

Investing for Cash Flow

Books:

Millionaire Real Estate Investor

Rich Dad, Poor Dad

Real Estate Investment Associations (just a few examples, there are hundreds in Florida):

Sarasota

http://sarasotareia.com/

West Florida

http://westfloridareia.com/

Hillsborough – Pinellas

http://www.sreia.com/

Palm Beach

http://palmbeachia.com/

Orlando – Central Florida

http://www.cfri.net/

Metro Dade

https://www.facebook.com/pages/Dade-Real-Estate-Investors-Association/186867381148

Jacksonville

http://jaxreia.org/

For a Personal Consultation on where you should begin, contact 813.498.2186

Check out this episode!

EP17 – How One Investor Segued from Single Family Homes to Multi-Family Investing

Posted on February 23, 2015 by admin

Chris Urso is a multifamily real estate investor and coach. His real estate company, URS Capital Partners, now controls over 50 million dollars of real estate throughout the Midwest and Southwest of America. Chris began investing in real estate at the young age of 21 years old when he bought a 2-family in 2001 with the money his parents were intending on using for his college loans. In this podcast, Chris covers a range of topics from how to get started, what has worked for him and hasn’t worked and how he structures his deals.

One of his proudest moments in his investing career was purchasing a 280 unit building in Charleston, SC for 7.2 million dollars. Urso then invested 2 million dollars into renovations for the property. All in all Urso plans on selling the property in the next two years for a 3 million dollar profit.

Points Discussed on the Show

Jacksonville’s Real Estate Market
Strategies for Investing
Investing Experiences both good and bad

Advice

Chris Urso gave some great advice throughout the show. One piece of advice he gave is that it is important to focus your energy on one specific type of investing. Urso also stresses the need for every young investor to have a mentor or a coach in their life to help guide them.

Quote’s from the show

“Anyone who says they’ve never lost money in real estate is full of you know what. “- Chris Urso

“You can’t dance at every wedding.”- Steven

“Stay focused on the end game.”- Chris Urso

“Don’t do a deal just for the sake of doing a deal.”- Chris Urso

Favorite Places in Florida

Urso’s favorite spots to hang out in Florida are Del Ray Beach as well as the beaches on the West Coast.

Favorite Book

Rich Dad Poor Dad by Robert T. Kiyosaki

Contact Info

http://www.eliteapartmentcoaching.com/

EP11 – Florida Investor Overcomes Obstacles to Own over $1m in Real Estate

Posted on January 12, 2015 by admin

Tony Montanez was stuck in the daily grind of his carpentry and handyman business, but he dreamed of taking control of his professional life and longed for financial freedom. He saw real estate ownership as the potential solution. The problem, however, was that the downturn in the market had hurt his credit and it was challenging for him to acquire the debt necessary to make ownership of real estate in critical mass a realistic possibility. But, Tony did not let his dream die quietly. Armed with the skills he had learned as a tradesman and the willingness to network whenever and wherever, Tony set the wheels in motion. Creativity and open mindedness helped this Pinellas County investor obtain success in a very short period of time..

Listen to how Tony overcame his personal obstacles to put him on the path to realizing his goals and dreams.

Check out this episode!

Show Notes:

Quotes:

“One of the worst things an inexperienced investor can have is good credit and some money”
“You can only do so much behind a computer. Deals are done meeting with people.”

Favorite Florida Restaurant:

Bonaire – St Petersburg Beach – 36:30
Email
tonymontanez.com
Tony’s Band – Big Moon Rocket

EP9 Todd Jones: Yes! You Too Can Reduce Your Property Tax Bill!

Posted on December 27, 2014 by admin

After the mortgage, the second highest expense for real estate investors is often property taxes. It might surprise you to know that experts estimate that between 30 and 60 percent of taxable property in the United States is over-assessed, which leads to higher property taxes.

Fighting and winning a battle with your local tax assessor’s office might not be as difficult as you believe. Investors, apparently, do not believe that to be the case as only a small percentage of property owners appeal their assessment. Maybe it is a case of investors having too many other battles to fight in the day to day management of their respective business, but perhaps there is lack of clarity over how the process will play out, as well as a fear of fighting a government agency armed with seemingly legions of trained professionals and a legal system tilted against them.

Perception is probably not reality. In this episode, Steven and Eric talk to Todd Jones, shedding some light on how the process works and how investors can contest the assessment. Todd helps guide us through the sometimes mysterious ways of how property assessors determine value of your real estate and subsequently, the taxes you pay.

Todd Jones is an MAI appraiser and President of the Florida Association of Property Tax Professionals

Todd’s position as an appraiser and Tax Professional allows him to look at a many types of deals all across the State. As a bonus, he talks about an area of investment that he sees as one of the hottest in Florida.

Quotables -
“In Florida, the Statutes require that that assessors extract the costs to the buyer and the costs to the seller from the sales price.” …approximately 15%

Favorite Restaurant (s) -
Yoko’s Sushi Restaurant
Capital Grill
Zudar’s Deli
Pipo’s
Holy Hog BBQ

Favorite Book
No Asshole Rule – Robert Sutton

Must Attend
The University of Florida – Bergstrom Center for Real Estate – Trends and Strategies Conference

Counsel to Investors
There are always niche opportunities – learn how to peg values
Hone “imagineering” skills

Todd Jones –
813.760.0212 – mobile
Linkedin

EP7 Darren Wilson: Accidental Landlord Turned Serious Investor in Tampa

Posted on December 16, 2014 by admin

Darren Wilson was an accidental investor. He did not start out to be a professional investor in single family properties, but once he got the taste of it, he didn’t look back. In the early part of his career, he was in the technology business, but now is an investor full time for himself and Kennedy Investments. Darren and Kennedy Investments recently completed a large value added office transaction in Central Tampa. They are currently completely upgrading the property, Twin Lakes Office Park (formerly known as Lincoln Gardens), on Busch Boulevard in Tampa.. Learn how he leverages other revenue streams to grow in to owning over 40 properties, mostly single family homes.

Quotables -
“If you want to build a great process…a great product….a great business, start by surrounding yourself with great people.”
“Just do it – At some point you have to stop running the numbers and do the deal.”
“Don’t bet the farm on one deal”
“Don’t buy anything you couldn’t live in”

Recommended Reading -
Class – Paul Fussell

Favorite Florida Restaurant –
Bern’s Steakhouse – Tampa
Ulele – Tampa

Kennedy Investments
813.554-1200
3410 Henderson Blvd #200
Tampa, FL 33609

EP6 – Sale-Leaseback from a Seller and Investor Perspective

Posted on December 9, 2014 by admin

A sale-leaseback is when a business entity sells its commercial real estate property to an investor with prearrangement to lease the property to the seller, typically with a long term lease. The business entity receives the market value of the property and gains liquidity, while the investor earns a return on his investment from a credit worthy tenant with a track record and commitment to the property.

Sale-Leasebacks can be a win-win situation for Investors and Sellers. What type of sellers should consider this structure? What can investors expect and look out for when taking advantage of these opportunities?.

Check out this episode!

EP5 Dan Pepper – 5 Pitfalls of Conducting Due Diligence on Real Estate

Posted on December 2, 2014 by admin

Dan Pepper is a young guy with a lot of experience. He is a value added real estate investor. While he has invested in many different asset classes, his focus is on multifamily dwellings. He is going to share with us his 5 biggest pitfalls of conducting reviews of investment properties. Due Diligence …the nuts and bolts of real estate decisions.