Jul 9, 2019
You do what you’ve got to do to
live your dream. Real estate found Kevin Bupp when he was 19 years
old and going to community college with no direction in
life.
Kevin tended bar until he did
enough deals to support and grow his business. He’s a real estate
investor, who started in single-family fix and flip, moved into
multifamily, and shifted to mobile home parks.
Topics on Today’s
Episode:
- Single-family Stuff Unsustainable: Market
shifted faster than expected
- Highest/Lowest Point: 18% vacancy rate,
negative equity, no cash flow
- Loan
Restructuring: Banks not interested in continuing relationships or
restructuring loans
- Hard
Lesson to Learn: Bad credit, bank accounts garnished, and being
forced to sell multifamily properties at rock-bottom
prices
- Crawling Out of Curled Up Ball: Save what you
can to avoid bankruptcy by working with lenders on short
sales
- Everyone knows the fundamentals: Buy low, sell
high
- Rebirth and Regain Control: Start businesses
outside the realm of real estate to save mental state and health,
and pay bills
- Real
Estate Itch Returns: Burning desire in belly with a newfound focus
-Buy mobile home park communities, rent land to
residents.
- Negative Stigma of Mobile Home Parks: Simply
supplying affordable homes and rooftops to middle
America
- Mobile Home Park Financing: Not readily
available, not well understood by lenders
- Win-Win Situation: Ultimate goal for sellers is
to have a plan for their money
- Fund
Structure of Semi-Blind Pool: Making purchases at your own risk,
raising capital for deal syndicate
- What
is means to be a cash flow investor: It’s not just about cash flow
of property, but protecting your team
- Focus, pick one thing, get really good at it
because there's a million ways to make money in real
estate
Links and Resources
Mentioned:
Quotes:
“I thought I was a cash flow
investor, I thought I was following that model, and quickly
realized that the market shifted way faster than what I
anticipated.” Kevin Bupp
“I had bad credit. I couldn’t
even get new debt put on these properties. We had to sell these
things. I got out of them, but sold them for bottom basement
prices.” Kevin Bupp
“This is what I love about true
entrepreneurs. You're going to go down this journey. The only way
you fail, is if you don't get back up.” Corey Peterson
“Raising money really becomes
what your comfort level is, and also what the appetite for money
is.” Corey Peterson
Don’t forget to download
my Free Workshop Quickstart Video
Series, and if you like
what you have heard please
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408-500-1127 to get my free private money program and credibility
kit for single family.