Property Profits Real Estate Podcast

"At the end of the day, I am the mortgage." After 25 years as a landlord and multifamily GP, Steven Weinstock moved his new business into first lien loans.
 
Steven's fund makes 3 to 24 month bridge loans to fix and flip and renovation investors. His rule is 65% loan to value. At 68%, he is out.
 
He shares how he gets all his deal flow from mortgage brokers without spending a dime marketing to borrowers, and why 1 to 4 unit homes are the most liquid real estate out there.
 
He also gets real about raising capital for a lending fund. His older investors love it. His younger ones want 25% returns and ask about taxes. And his answer for new investors starts with being known.
 
Key topics:
Why he shifted from owning to lending
The 65% loan to value guardrail
Getting deal flow from mortgage brokers
Why 1 to 4 units sell in any market
How older and younger investors see lending differently
Know, like and trust for raising capital
 
About the guest:
Steven Weinstock has invested in real estate for about 25 years, from single family homes to multifamily syndications. Based in Brooklyn, New York, he runs We Capital Mortgage Fund and hosts The Wealth Clock Podcast.
 
Connect with Steven: https://www.wecapitalx.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

His first turnaround had gangsters, crime and occupancy near 60%. It taught him two rules he will never break again.
Colby Fryar of Mountain Bridge Capital bought a tough property in Las Cruces, New Mexico. His team hired three contractors, turned eight to 12 units a month, and turned it around in about six months. This year they refinanced out and got their investors their money back.
Now Colby's rules are simple: raise enough capital, and cash flow day one. He explains why older Class C buildings look great on paper until each repair costs about $4,000, and why his team now buys newer properties in Phoenix.
Key topics:
• The Las Cruces turnaround and what it taught him
• Why cash flow day one is non negotiable
• Newer vintage vs old Class C properties
• Local partners and full time asset management
• Why prices down 35 to 40% could mean the next transfer of wealth
About the guest:
Colby Fryar is a principal at Mountain Bridge Capital, a multifamily syndication company focused on Phoenix, Arizona. He personally owns 240 doors across five properties in New Mexico and Tucson.
Connect with Colby: https://mountainbridgecapital.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

Paul Lizell took a hurricane damaged shell, turned it into an 8 room co-living home, and doubled the rent.
 
Paul has invested in real estate for over 25 years and has done deals in 44 states. For the last year and a bit, he has focused on co-living and PadSplit.
 
He explains what co-living is, how PadSplit works, and why he is so bullish on it. His son pays almost $1,900 a month for a one bedroom. A PadSplit room can rent for about $800 a month with internet and utilities included.
 
Dave plays devil's advocate on the people side. Paul shares why it has been easier than his single family rentals, and the travel baseball lesson he uses to set the rules.
 
Key topics:
What co-living and PadSplit are
Why affordability makes Paul bullish on co-living
Turning a 4 bed, 3 bath house into an 8 bed, 4 bath
Why losing a tenant hurts less with 8 rooms
Who rents the rooms and how Paul keeps the peace
Fridge shelves, dishes and the PadSplit group chat
 
About the guest:
Paul Lizell is a real estate investor based in Naples, Florida. He has done wholesales, flips and virtual real estate investing, and now owns and converts co-living properties on PadSplit.
 
Connect with Paul Lizell: https://paullizell.com
 
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
 
Want to be a guest on the show? https://www.daveinterviewsyou.com

Justin Goodin had no background in construction and no background in development. Today he builds Class A apartment communities from the ground up.
 
Justin started like most investors. A $44,000 rental, some fix and flips, and the hard lesson that he was "really just buying myself another job."
 
A job as a multifamily underwriter at a bank opened his eyes to commercial multifamily. He went on to partner on around 500 units of value add deals in and around Indiana. When the market shifted and deals stopped making sense, he pivoted to ground up development.
 
Justin tells Dave how a mentor let him ride shotgun on his first project, why he sees the developer as the quarterback of the team, and how his latest 114 unit project came together. He also shares why he builds and sells, and why he keeps using the same proven team.
 
Key topics:
From rentals and value add deals to ground up development
Starting with no construction experience and learning from a mentor
Developer vs general contractor: the quarterback role
Inside a 114 unit, $26 million project near 3,000 new jobs
Why sell a brand new building
Pros and cons of development for investors
 
About the guest:
Justin Goodin is the founder of Goodin Development in Indiana. He builds Class A multifamily and mixed use communities from the ground up. He has a finance degree, worked as a multifamily underwriter at a bank, and partnered on around 500 units before moving into development.
 
Connect with Justin:
https://goodindevelopment.com
 
Prefer to watch on YouTube?
https://www.youtube.com/@propertyprofitsrealestate
 
Want to be a guest on the show?
https://www.daveinterviewsyou.com

Not enough capital raisers are just picking up the phone.
 
Jonathan Cattani has been part of about $40 million raised and has talked to a couple thousand investors. He tells Dave Dubeau why cold email and automations are not enough, and why a real call to a new lead or a current investor still builds the relationship.
 
Jonathan now runs fractional investor relations for operators who are great at deals but don't love raising money. He shares why many groups with $100 million under management still have no IR department, how to keep a CRM from going rogue, and how SEC rules shape what an outside IR person can do.
 
Key topics:
Why the phone still beats cold email
Using LinkedIn to prospect and keep relationships
Who needs fractional investor relations
Advisory, CRM hygiene and ad campaigns
SEC limits and the top of the funnel
Why raising capital is glorified sales
 
About Jonathan Cattani:
Jonathan is a real estate investor, capital raiser and fractional investor relations consultant with Cattani Capital Group. He has raised money for a short term rental fund, an oil and gas fund and a mobile home park portfolio, and he is now buying a services business.
 
Connect with Jonathan Cattani: https://cattanicapitalgroup.com/fractional-ir/
LinkedIn: https://www.linkedin.com/in/jonny-cattani-53159b179/
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com

If it's so easy to get a tenant, why don't you get the tenant? Dolf de Roos asks sellers that every time they price a vacant building on pro forma.
Dolf de Roos was one of the original Rich Dad advisors. Today he invests mainly in commercial real estate: shops, offices, warehouses and storage.
He says finding a bargain is tougher than it was 30 years ago, when deals sat in the Saturday classified ads. So he looks harder and faster. He hunts for FSBOs, drives a different route to spot signs that are not online, and calls commercial brokers to ask what their tenants need.
Then he finds a building that fits, brings the tenant to see it, and buys it once the tenant likes it. He also shares how to get a vacant space leased, his seldom sell rule, and why agents chasing the 3% miss out on the 97%.
Key topics
• Why bargains are harder to find today
• The pro forma trap on vacant buildings
• How to fill vacant space with a better sign and listing
• Finding a tenant before you buy
• Why he seldom sells and refinances instead
About the guest
Dolf de Roos was one of the original Rich Dad advisors and has written many books on real estate. He invests mainly in commercial real estate and is based in Phoenix, Arizona.
Links
Connect with Dolf de Roos: https://www.dolfderoos.com
Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate
Want to be a guest on the show? https://www.daveinterviewsyou.com