Jun 20, 2022
This is part 1 of my conversation with Phil Capron! Phil Capron is a real estate investor who has learned a lot about the industry over the years. Phil learned that real estate was the wealth builder for him after purchasing his first home in 2010 using a VA loan while on active duty. He cut his teeth in the business as a real estate agent and by flipping properties in Coastal Virginia. He wrote his first book “Your VA Loan and How It Can Make You A Millionaire” in 2019, and in 2021 created the first 100% veteran-owned and operated fund backed by real estate First Capital.
In this episode, Phil shares his knowledge with us and discusses how to be successful in the real estate market. He discusses how to flip houses, and then he finally buys first multifamily building. He teaches middle school students about the difference between investing and selling, and explains that most of what he does is buying. Phil encourages listeners to take their time when making investments and to make sure that deals are done carefully so that relationships with friends are not damaged in the process. Listen in!
[00:01 - 06:39] A Better Understanding On Valuation and Underwriting When Buying A House
[06:40 - 16:43] Single-Family Homes Are Easy To Manage
[16:44 - 22:55] Trust Is The Key To Success In The Multifamily Market
[22:56 - 28:04] Closing Segment
Tweetable Quotes:
“Go within your network, get the best vendors, get the best professional help, and you figure it out because when you take other people's money, that's your job.” – Phil Capron
“I'm an avid skydiver, so sponsoring or being on the active side of an apartment syndication or apartment deal. It's not so much different, it's the same as skydiving. It's probably going to be scary there's some things that you don't know, but there's other people like millions of people that have done it and they've lived.” – Phil Capron
Connect with Phil through his website at https://missionfirstcapital.com/
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Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.
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