Multifamily Value Add Underwriting with Ashley Garner - CRE PN #535
Commercial Real Estate Pro Network
Today, my guest is Ashley Garner. Ashley is a seasoned real estate entrepreneur and founder of ABG and Associates with over 30 years of experience, he combines analytical rigor and hands on property management to consistently deliver strong, cash flowing returns to his investors. And in just a minute, we're going to speak with Ashley Garner about value add, deal making, real world stories and lessons from transforming underperforming properties into profitable, high yield investments.
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BIGGEST RISK with Ashley Garner
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Ashley Garner, what is the BIGGEST RISK? Ashley Garner I think the biggest risk is to be under capitalized and and ultimately, you know, a property can go up in value, or the the P and L can show a profit, but if you don't have enough cash flow to pay the bills or make the repairs that you need to make, or make the improvements you need to make, then you you're in a tight spot, and that puts everything at risk, and that's an avoidable risk to not be under capitalized. But the temptation is so great a lot of times to say, I'm...
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Short Term Rentals Real Estate Investments with Kenny Bedwell - CRE PN #534
Commercial Real Estate Pro Network
Today, my guest is Kenny Bedwell. Kenny Bedwell is a seasoned real estate investor and entrepreneur known for helping high income professionals identify and acquire short term rental properties that generate strong cash flow. And in just a minute, we're going to speak with Kenny Bedwell about short term rentals versus boutique hotels.
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BIGGEST RISK with Kenny Bedwell
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Kenny Bedwell, what is the BIGGEST RISK? Kenny Bedwell So you know, I the biggest risk. I think that this the answer I was going to give you originally, and I kind of talked about it, so I'll move on from it, but it's regulation. Regulation changes. You're in trouble that is a huge risk to any investment. But the risk that I don't really hear often talked about. In our space is actually safety, guest safety. So I'll give you a stat. This is a real stat by there's a there's a guy Justin Ford, he's a safety expert in a short term rental space, and...
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Pro Storage Commercial Real Estate with Joe Downs - CRE PN #533
Commercial Real Estate Pro Network
Today, my guest is Joe. Downs. Joe is a lifelong entrepreneur with business ventures spanning securities, mortgage, hospitality and real estate industries. He co founded the bell Rose group to pursue opportunities within the niche Self Storage sector of commercial real estate, and in just a minute, we're going to speak with Joe downs about pro storage. What is it and why we need it.
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BIGGEST RISK with Joe Downs
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Joe downs, what is the BIGGEST RISK? Joe Downs To me, it's, I'll give you, I'll give you, all right, you just want the biggest I'm gonna go right to base. To me, it's change. It's sort of what I just alluded to, if we were, if, if we still thought, because we weren't out there interviewing and investigating other third party management companies. If we refuse to do all that and just head in the sand, we would probably start falling behind other storage facilities, other competitors, who are managing their facilities better than we...
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Multifamily Leasing Strategy Training Courses with Peter Roisman - CRE PN #532
Commercial Real Estate Pro Network
Today, my guest is Peter Roisman. Peter Roisman is the CO founding principal, President and CEO of REV, the multifamily leasing company, a Houston based venture established in 2019. Under his leadership, REV has become a trailblazer in multifamily leasing management and training, and in just a minute, we're going to speak with Peter Roisman about leveraging data for improved multifamily leasing results.
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BIGGEST RISK with Peter Roisman
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Peter Roisman, what is the BIGGEST RISK? Peter Roisman Well, the biggest risk, in my mind, for besides physical property itself, is the occupancy and and and the rental rates. So if you have an underperforming leasing team. And your occupancy drops into the 80s, you know. And at one point, 15% of the properties in Houston were under 85% you're at risk. That is, that is a high risk, too. So in to flip that, to address that risk, you have to be high performing at leasing, which, which means you're not at risk at all. You're lowering...
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Infinite Banking Money Multiplier Method with Brent Kessler - CRE PN #531
Commercial Real Estate Pro Network
Today, my guest is Brent Kessler. Brent Kessler was a chiropractor, and after implementing the money multiplier method, Brent paid off $984,711 in third party debt in 39 months, he became so passionate about how powerful this concept was, he began sharing it with others, and in just a minute, we're going to talk with Brent Kessler about Infinite Banking through the Money Multiplier Method.
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BIGGEST RISK with Brent Kessler
Commercial Real Estate Pro Network
J Darrin Gross And so if you're willing, I'd like to ask you. Brent Kessler, what is the biggest risk? Brent Kessler Yeah, well, let me answer it a couple different ways on there. But so as far as a risk, okay, as far as in our business, and what we do when you have this type of policy, I tell people all the time, there is no risk at all, because nobody's ever lost money in a whole life insurance policy. But then I stop, and I say, wait a minute, there is one risk. The risk is you, the risk is you the client and how you use the policy. So you're the only one that can screw this up. You...
info_outlineJ Darrin Gross
And so if you're willing, I'd like to ask you. Brent Kessler, what is the biggest risk?
Brent Kessler
Yeah, well, let me answer it a couple different ways on there. But so as far as a risk, okay, as far as in our business, and what we do when you have this type of policy, I tell people all the time, there is no risk at all, because nobody's ever lost money in a whole life insurance policy. But then I stop, and I say, wait a minute, there is one risk. The risk is you, the risk is you the client and how you use the policy. So you're the only one that can screw this up. You are the only one that can screw this up. The insurance company is not going to screw it up. So who do you know better than you. So you're the risk factor now, as far as a risk also when I because, again, I invest in in properties. I have short term rentals, long term rentals, Airbnbs, vrbos. I have raw land. And I do a lot of private lending in the real estate world. I lend to individuals for houses, even to cars. And I also lend into big property developments and to big communities, to real estate developers where I'm providing a portion of their financing to build these big developments, like we got one right now going in Covington, Georgia, another one in Fort Collins, Colorado, where these are big housing projects, right? Well, look, I've been doing this quite a long time, and I've learned a lot as I've gone through this, and the one thing I've done to really lower the risk, because anytime you invest money, you invest money, you are assuming some sort of a risk, okay? So that's why the insurance policy that I talk about is not, is, is just not an investment, because you can't lose money. See an investment, it can go up or it could go down, right? So there's a risk involved. But I would say to avoid risk, that's your greatest at right, just as far as, especially as far as in the real estate world, is to be in first position in everything that you do, be in first position. How do I know that? Well, I've been in second position. Did it always work out? No, as a matter of fact, and I guess if I would have known you were going to ask me this question, I would have wore this shirt that I have, and it says, if you're not first, you're last. That's what my T shirt says. If you're not first, you're last. So I protect myself by being in first position. And I want the collateral on any money that I'm loaning. I want that collateral to be, I want that collateral to be at least equal to, if not greater than, the loan amount that I'm actually loaning. Now I might have to spend some time and energy going out and chasing down and trying to get that or get the collateral, which is going to be a pain in the butt, but you would much rather have the collateral than not have it. One more thing I want to point out from my own personal experience. A couple years ago, we experienced hurricane Ian. Part of my portfolio of rental property is in Captiva Island, Florida, North Captiva Florida. I own a property. If you go out and you take a look at it, just for a rental it's called Captiva Beach, sunset.com beautiful property sits right on the Gulf of Mexico, and it sleeps 18 people. It's all short term rental. It gets about 350,000 a year in the annual rental. I pay back in 21 I paid 1,760,000 for the property. I'm about to sell it. I'm about to sell it for a very discounted rate, because I'm selling it to my son, who is a property manager, and he's buying it for $2.4 million in January, he's getting a great discounted rate, even though I paid one, seven, selling it for two, four, I did okay. Got all the rental income on top of that when Hurricane Ian came through. So I had insurance on the property. It didn't flood, but it had wind damage. And let me just tell you, if you live in Florida, you guys know you probably don't even want to buy flood insurance because it's so expensive. And if it and it does, and it's a lot of limitations of what it covers, but I had wind insurance on that property. It took me a while, but I almost got a million dollars on my insurance claim from the damage on that property. Now, a lot of people think, Wow, a million dollars. You got a million dollars from the property. Well, that property was shut down for about two years, which means it couldn't be rented. I had to do all the renovations. Had to pay for that, had to pay for that all out of pocket, because it took a while for the insurance company to pay on that property. So did I really make money? No, I didn't make money. I did okay, but I didn't make money because I lost all that rental income. But, but I but, but, but I do think my lucky stars that I had insurance on that property, because if not, I would have taken all of that hit.
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