Ep #240: How This Family Run Business Has Built a Portfolio of 3,500+ Doors and Continues to Dominate the Kansas City Market -- with Jesse Worcester
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 30 July 2019
⏱️ 56 minutes
🧾️ Download transcript
Summary
In this episode of the Real Estate Investing for Cash Flow podcast, Kevin talks to real estate and multifamily expert, Jesse Worcester. Jesse is the co-founder of Worcester Investments, a family owned real estate company based in Kansas City, Missouri. He also sits as director of fundraising for capital, building and maintaining investor relationships.
In this podcast, Jesse talks about the market in Kansas and why Worcester Investment decided to move their business from Oregon to the midwest. Jesse describes value investing and the intrinsic value of real estate dependent on things that can be controlled instead of speculation. He explains why he prefers a vertical structure to outsourcing property management and construction. Jesse also offers some perspective on hiring and management, and even recommends books that helped him develop his philosophy on real estate.
QUOTES:
“The most boring average markets often times are where you’re going to see your greatest cash flows assuming it’s not a dying city.”
“In everything I’m doing, I want to be doing it thirty years from now so I don’t want to be betting on market timing, there’s a lot of risk factors that come into play when you’re speculating.”
“Most great deals come from two situations: someone making a bad decision or it’s just being a situation that’s very unique where a great deal is able to be had.”
“The driver behind the numbers of the property are the people who are working on the site whether they’re corporate officers or physically on the site.”
“Culture and for us, how we treat individuals has been the single best determinant.”
HIGHLIGHTS:
7:48 Jesse’s background and how his company started
14:18 Jesse explains why they choose the midwest
17:35 What exactly is value investing?
24:16 Vertical management structure of Jesse’s company
29:25 Jesse talks about deals
37:13 Importance of having good underwriting
40:09 On hiring and keeping talents
48:00 Jesse on simplicity
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
- Rich Dad Poor Dad -- Robert Kiyosaki and Sharon Lechter
- Intelligent Investor -- Benjamin Graham
- Good to Great -- Book by James C. Collins
- The Go-Giver -- Bob Burg
- http://www.worcesterinvestments.com/
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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. |
| 0:09.4 | But you're tired of all the so-called gurus who are all talk and no substance. |
| 0:15.2 | Get ready to celebrate because Kevin Bup has spent 14 years successfully making it happen. |
| 0:21.7 | This is the Real Estate Investing for Cash Flow podcast. |
| 0:25.2 | Now, here's Kevin Bup. |
| 0:31.7 | Hey guys, Kevin Bup here, and I want to welcome me to another episode of the Real |
| 0:35.4 | Estate Investing for Cashflow podcast. |
| 0:37.2 | We're missions to help you build and maintain of the Real Estate Investing for Cashflow podcast, |
| 0:42.2 | where missions to help you build and maintain massive amounts of cash flow through income-producing real estate investments. Now, our guest to this week's show is real estate and multifamily expert, |
| 0:47.2 | Jesse Wooster. Worcester Investments is a family-owned and operated real estate investment company |
| 0:52.0 | located in Kansas City, Missouri. It was founded in |
| 0:54.8 | 2006 by the Worcester brothers and their father. The family business began acquiring rental property |
| 1:00.1 | in Oregon where they lived at the time. Now in 2007, Worcester investments expanded into the |
| 1:05.7 | greater Kansas City area through a real estate connection and has continued to see steady growth |
| 1:10.2 | each and every year since. |
| 1:12.2 | Now, Jesse is the co-founder and sits as director of fundraising and is responsible for |
| 1:16.4 | raising capital for new projects, building new investor relationships, and maintaining existing |
| 1:21.5 | ones. He also consults in the analysis of new purchases and the oversight of operations. |
| 1:26.7 | Now, here's what you're going to learn in our call with Jesse today. |
| 1:28.9 | You're going to learn the methodical reasons on why Jesse and his family decided to uproot their |
| 1:32.9 | business in Oregon and head for Kansas City. |
| 1:35.8 | You can learn about the various stages that the business went through in the early years |
... |
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