Turning a Home Sale Into a Commercial Dream with Cameron Philgreen

A rental property did more for Cameron Philgreen than create monthly income. Real estate eventually gave Cameron and his wife the money to open a business they had dreamed about building.

Cameron started investing in 2020. He and his wife began with their own home, rented rooms, used Airbnb, and completed a BRRR property. They also wrote down a goal of reaching 25 units by 2025.

A few years later, selling a former home in Lawrence, Kansas, gave them around $100,000 to $110,000 that Cameron says they put into a commercial building in Waco. With an SBA loan and a major renovation, that building became For Keeps Coffee and Bakery.

Cameron shares why he has moved away from much of his short term rental activity, why he likes furnished midterm rentals, and why he now believes investors can benefit from having both rental cash flow and larger chunks of income from flips.

He also talks about a new 50,000 square foot commercial property he purchased with two partners. The property needs major work, and their goal is to make the area more beautiful, family friendly, and inviting.

Key topics and takeaways:

• Setting a goal of 25 units by 2025 with his wife
• Starting with house hacking and the BRRR method
• Moving short term rentals into midterm or long term rentals
• Using proceeds from a home sale to help create For Keeps Coffee and Bakery
• Cameron's barbell idea of combining rental cash flow with flip income
• Renovating a distressed 50,000 square foot commercial property in Waco
• Delegating daily coffee shop operations to an empowered staff
• The Legacy Investor Podcast and its move to the name The Good Steward Podcast