Ep #68: From dreaming of Real Estate at age 14 to becoming a multifamily operator - with David Fontana

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

Business, Education, Investing

4.8 • 679 Ratings

🗓️ 4 May 2015

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week we're going to speaking with real estate investor, David Fontana. David started thinking about real estate at the very young age of 14, an age when most of us were more interested in riding our bikes or playing a game of catch. His young interest in real estate stemmed from a fear of his dad running out of work and not being able to provide for his family and David knew that creating a perpetual income stream through real estate could ease that fear, but his father thought otherwise. His father thought tenants were nothing more than headaches and he wanted no part of it

Fast forward a number of years and David went on to build a multi-million dollar contracting firm, has built or renovated more than 250 homes, built 100 condo units, built more than 5 million sq ft of commercial and office space and has built quite the impressive rental portfolio. To date David has 68 rental units in his portfolio with a goal to get to 300 units by 2018.

Here’s a few things you’ll learn in our interview with David today:

What intrigued David about real estate at the age of 14
Why he decided to make the switch from being a contractor to a long term investor
What attracted him to Charlotte, NC and why he thinks it's the next large growth city
How he found one of his best deals through a brokers personal website
When hard money makes sense and when it doesn't
How he was able to obtain owner financing on a recent 21 unit building in Charlotte
Why he uses a multiple offers strategy when buying apartment buildings
The risks of buying the underlying LLC that owns the asset instead of buying the real property itself.
Why he loves condemned buildings
Why he lives by the motto "don't be cheap" and how he attributes that to his success as an investor
And much more

Recommended Resources:

Download my free success guide, “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide
Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2
Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S
Learn more about David and his company, please visit http://www.DAGLLCUS.com

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.
0:30.2	Hey guys, Kevin Bup here with episode number 68 of the Real Estate Investing for Cashflow
0:35.1	Podcasts.
0:36.0	Our mission is to help you build and maintain massive amounts of cash flow through
0:40.0	income producing real estate investments.
0:42.6	This week we're going to be speaking with real estate investor David Fontana.
0:46.6	David's story is an interesting one because he actually caught the real estate bug much
0:51.3	earlier than most of us, which was at the young age of 14.
0:55.2	You know, this is the time when most of us were out riding our bikes or more interested in going
0:59.0	swimming with our friends or playing video games.
1:01.6	The last thing we had in our mind was being a landlord.
1:04.3	But David had other thoughts, and we'll talk a lot more about that in our story in our
1:08.2	interview with David.
1:09.2	Fast forward a couple of years, and David went on to build a multi-million dollar contracting firm and has assembled a very nice
1:15.4	rental portfolio of multifamily and single-family properties. And here's a little taste of what
1:20.1	you're going to learn from our interview with David today. You're going to learn what intrigued
1:23.4	David about real estate at the young age of 14, why he decided to make the switch from
1:27.6	being a contractor to a long-term investor.
	...

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