Ep #216: Avid Realty Partners -- with Craig Berger

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 12 February 2019

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's show features Craig Berger, Founder and CEO of Avid Realty Partners, a commercial realty firm focused on hotel and multi-family apartment assets.

Craig speaks about how he scaled up his company, the challenges he faced along the way, and the successes he enjoyed with his business model.

Quotes:

"It's a less efficient market. It's harder to sell a hotel asset than it is a multi-family asset."

"We were on our downside scenarios. If we lose revenues 30%, how long will our cash last before we're in trouble? If revenues drop 20%, how long does our cash last before we're in trouble?"

"A lot of people don't want to own anymore so the underlying trends and demographics still are very favorably for the multi-family sector. But the prices continue to make me nervous."

"First of all, I'd say, find some good mentors. That's always important. Find some talented people to work with that are willing to work with you."

"Find your passion. Find your inspiration and reach for the stars. You gotta go for it."

"Have cash on hand. Protect yourself. Be willing to make mistakes but hopefully not fatal ones. And make sure you're measuring the downside, the recession scenario, and how long you're going to be able to survive if business shrinks 5%, 10%, 15% from current levels."

"Take some Excel classes. Try to get a basic model out for your revenues and expenses. If revenues shrink 10%, expenses don't."

Discussed in this Episode:

Introduction to Craig Berger and his background
Evolution of Craig's business
How Craig Hedges against risk
Deals that didn't go as planned
Advice that Craig would give himself 4 years ago

Job Opportunities with my Team: Click Here

Recommended Resources:

Check out our company and our partnership opportunities by visiting SunriseCapitalInvestors.com
Would you like to partner with us on future MHP deals, call 844-CASH-FLW to learn more or click here to schedule a time on our calendar.
Grab a free copy of our book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park…and how to avoid them click here
Visit Avid Realty Partner's Website

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Transcript

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0:00.0	You've been searching for the best way to generate passive income in your life and heard that real estate is a great way to do it.
0:09.2	But you're tired of all the so-called gurus who are all talk and no substance.
0:15.3	Get ready to celebrate because Kevin Bup has spent 14 years successfully making it happen.
0:21.6	This is the Real Estate Investing for Cash Flow podcast.
0:25.2	Now, here's Kevin Bup.
0:31.9	Hey guys, Kevin Bup here, and I want to welcome you to another episode of the Real Estate
0:35.5	Investing for Cash Flow podcast, where mission is to help you build and maintain massive amounts of cash flow through
0:41.5	income producing real estate investments. Our guests for this week's show is real estate investment
0:45.8	expert Craig Berger. Craig is the founder and CEO of avid realty partners, a commercial
0:51.7	realty firm focused on hotel and multifamily apartment assets.
0:55.9	Craig is the senior project sponsor and has primary operating responsibility for the assets
1:00.9	and avid realty partners portfolio, including multifamily apartment buildings, hotels, new developments
1:06.8	underway in Colorado, and other assets. Craig leaves all property sourcing, underwriting,
1:12.4	capital fundraising, and helps identify and implement operational improvements.
1:17.0	Now, prior to scaling this commercial realty business, Craig spent more than a decade as a top
1:22.7	sell-side semiconductor equity research analysts, including as a managing director for FBR capital markets
1:28.6	and at Smith Barney City Group. And so I'm looking forward to, you know, to peeling back the
1:33.7	layer of Craig's business with the hopes that we can uncover some of the secret ingredients that have
1:39.5	basically attributed to avid's high level of success amongst the numerous commercial asset classes
1:44.9	that he and his team operate. Now, very quickly, before we get onto the show with Craig, I just want to
1:49.7	run through a few laundry list items with you guys. First and foremost, this is something I tend to forget
1:55.0	to mention most of the time, but just so you know, we're in deal acquisition mode here at Sunrise
	...

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