Today we're going to compare the Pro's & Con's of investing in Multifamily & Apartments V.S. two other commercial asset classes: Self Storage & Mobile Home Parks. Which is harder to acquire in today's market, and which will do the best during a good economy as well as a bad one?
Paul Moore has returned to the show to help us answer these questions. You might remember Paul from episode #42, where we talked about his book "The Perfect Investment: Create Enduring Wealth From The Historic Shift to Multifamily Housing". Paul has since changed his outlook on Multifamily, and today you're going to find out why.
Paul is also the Founder & Managing Director of Wellings Capital, which manages two private equity funds in commercial investments. Paul is going to share the Value Formula he uses to exponentially create wealth in commercial properties, the tax benefits provided through Real Estate Investing, and the types of returns he strives to achieve for his investors.
Paul also hosts the podcast "How To Lose Money", where I was a guest on episode #7 talking about a Meth House I (may have) owned in New Mexico. I always enjoy my conversations with Paul because he's so knowledgable on so many aspects of commercial investing. I know you're going to enjoy this episode & learn some tips that will help you increase your bottom line.
Paul can be contacted through his website:
When people ask me about investing in Detroit, my stock response is that there are a lot of great opportunities, but you really need to work with someone who understands the neighborhoods and where to find those opportunities. Because, if you're one or two blocks off, you could lose a lot of money.
Earlier this year I had the pleasure of traveling around Detroit with a seasoned investor who was kind enough to show me the neighborhoods he's investing, improving, and profiting in. We also got to see a number of properties that he's in the process of rehabbing, flipping & selling.
Today I'm excited to have Todd Chunn on the show. Todd is a Detroit Real Estate Investor, Wholesaler, and Auction Expert at Best Invest, LLC, and he also owns a property management company called 'Investors Property Management Detroit' specializing in managing Detroit rentals for out-of-state & local investors.
Todd shares a lot of great information in this episode: how he went from an employee mindset to owning several businesses, how he's finding his investment opportunities, the challenges of investing & managing tenants in Detroit, and how he became a foreclosure auction specialist.
You'll also learn about the seminar and investment guru who changed Todd's life, as well as the importance of mentorship and what makes someone a 'Rockstar' employee. Todd also has a great story about hiring several squatters to help him protect his houses.
I know you're going to enjoy this episode. I was lucky enough to spend the day with Todd, and I'm thrilled that we can bring you this conversation about his business.
Todd can be reached through email, Facebook & text (to get on his buyer's list):
facebook: Best Invest
text for Buyer's List: 248-497-9195 & type in "Buyer's List"
Today we're going to talk about Adaptive Re-use of Commercial Space and how it can be turned into an Asset Class that is Very Attractive & Extremely Profitable.
My guest is Scott Krone, the managing partner of Coda Management Group, a company that teams up with investors to purchase and convert undervalued warehouse space into climate controlled Self-Storage Facilities.
Scott has a Masters of Architecture Degree from the Illinois Institute of Technology and he's created 47 syndications and has over 400,000 sq. ft. & 2,759 storage units under management, along with over 25 years of development & design-build experience.
Scott is going to share the process he goes through in converting old warehouse space to self-storage, including his typical costs per sq. ft. for acquisition, construction & soft costs. He'll discuss the financing that's available for these projects and how Coda builds and sells their developments to REITS.
Scott & I also discuss the importance of Mentors, what ever happened to the original 'Lincoln Log' factory in Chicago, and how he uses personality profiling techniques to build his team and understand his clients better.
I know you're going to enjoy this episode, and you can learn more about Scott by going to his website:
My guest today is Frank Maratta, a listener & fan of the show who contacted me with some great questions. So I thought I'd have him on the show to answer them with the help of Justin Workman, another friend of the show who's been on many episodes.
Frank is an experienced investor and landlord with 12 units that he rehabbed & manages. Frank's favorite strategy is to buy a property, rehab it using his own subs and serving as the General Contractor, and then complete a cash-out refinance in order to pay himself back and raise money for the next deal.
Frank has some excellent questions that Justin & I do our best to answer, even though we disagree on several of our answers:
Should Frank get a 30-year or 20-year mortgage?
Should he "buy down" the points in order to get a lower interest rate?
Will a new roof increase the appraisal value? (the answer to this will surprise you)
What is our current outlook on the market?
Frank's questions make for a lively discussion (& arguments) with Brian & Justin. This is a fun episode that I know you're going to enjoy. If you'd like to get ahold of Frank, you can email him at: