Multifamily Legacy Podcast in the NY City Podcast Network

097: 5 Years And 30 Flips: Military Veteran Smashes Multifamily Space

Every year in the United States we observe Nov 11 as Veterans Day to honor those who have served in the U S Armed Forces Rather than spending your signing bonus on a Harley Charger or Mustang upon your return spend your well-deserved chunk of money by buying a home Today I m talking to Phil Capron U S Navy veteran who served as a Naval Special Warfare Combatant Craft Crewman SWCC He purchased his first property in Norfolk Va while serving in the military Five years and 30 flips later Phil s in the multifamily business and author of a new book Your VA Loan How It Can Make You A Millionaire Topics on Today s Episode From Navy SEALS to Multifamily Space Phil s story and journey into real estate SWCC What they do Jump out of planes drive fast boats and shoot big guns Veterans Administration VA Loan Enables service members and qualifying veterans to purchase a primary residence at 0 down House Hacker Being resourceful is big component to live for free make money Assets vs Liabilities Pros and cons to living on off base with family or friends Multifamily means more work but more opportunity to build cash flow Lessons Learned Don t kill profit by raising all rents at once and losing tenants Do Something Difference between big kahunas and people without portfolio Multifamily Space is a Team Sport Partner with someone with some experience and take less it s better to have a slice of watermelon than a whole grape Commander of the Ship Know how to negotiate and when to keep or sell property to cash out for cash flow Version 1 is better than Version None Write a book and teach what you know Move On Never let a failure setback define you for an extended period of time Links and Resources Mentioned Phil Capron Your VA Loan How It Can Make You A Millionaire Phil Capron on Facebook VA Loan Rich Dad Poor Dad by Robert Kiyosaki Michael Blank CoStar The Miracle Equation by Hal Elrod Copy Your Way to Success Kahuna Investments Multifamily Legacy Podcast on YouTube Multifamily Legacy Podcast on Facebook Quotes Being multifamily guys we know about the power of leverage It can be a tool that works for us but it can also really mess us up if we use it improperly Phil Capron I didn t mean to be a house hacker It just seemed like I wanted to have my buddies around and I wanted to give them a place to live for cheap Phil Capron These guys and gals are returning home with a good chunk of money and they re going to drop it on a Harley a Charger or a Mustang That s a mistake Phil Capron What I would never do again I would never allow a failure or set back to define me for an extended period of time Phil Capron Don t forget to download my Free Workshop Quickstart Video Series and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Click here to visit this podcast episode