Ep #90: Turning vacant and abandoned buildings into Multi-Million Dollar Profits - with Jay Several

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 12 October 2015

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our guest for this week’s show is Real Estate redevelopment expert, Jay Several. Jay has a very interesting story because his real estate investment career started off as more of a hobby which he dabbled in in his spare time while running his software consulting company.

The exciting part about Jay’s journey is that not only did he start investing full-time just a short 10 years ago, but he started just before the biggest real estate crash in history was about to happen. And if that wasn’t already challenging enough, the projects that he was acquiring weren’t simple deals like stabilized apartment buildings or fully leased NNN shopping center deals. No, he started off by redeveloping vacant buildings and repurposing them for entirely different uses. This, my friends, is not a business for the faint of heart or for the beginner investor. Listen in to hear how Jay makes the magic happen

In this show with Jay you’re going to learn:

How jay got involved in Real Estate after selling his software consulting firm
Why he decided to take the path of redeveloping infill properties instead of purchasing already occupied and cash flowing investments.
How he was able to profit $1 million on his first deal and how he’s been able to duplicate this success over and over again.
What qualities he looks for when determining whether or not a property makes for a good redevelopment opportunity.
Why he never gives exclusive listings to commercial brokers.
The process he takes to proactively seek out tenants to fill his centers before he’s even finished with the project.
Why he feels that everything you own should be for sale….at the right price.
The reasons he prefers the retail sector due to its ease of management.
The $250,000 mistake he made and how he overcame it and became a smarter investor because of it.
Why he feels that persistence is one of the most important qualities needed in becoming a successful real estate investor.
And much more

Recommended Resources:

Download my free success guide, “7 habits of highly successful multi-family investors” by going to 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 Jay and his company, please visit http://www.severalpropertiesgroup.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.
0:09.2	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 Buck has spent 14 years successfully making it happen.
0:21.8	This is the Real Estate Investing for Cash Flow podcast.
0:25.2	Now, here's Kevin Buck.
0:30.1	Hey guys, Kevin Bup here with episode number 90 of the Real Estate Investing for Cashflow
0:34.8	Podcast.
0:35.8	Our mission is to help you build and maintain massive amounts of cash flow through income
0:40.2	producing real estate investments.
0:42.6	Now, our guest for this week's show is real estate redevelopment expert Jay Severell.
0:47.7	And Jay has a very interesting story because his real estate investment career started off
0:52.4	as more of a hobby in which he dabbled in his spare
0:55.1	time while running his successful software consulting company.
0:58.5	And the exciting part about Jay's journey is that not only did he start investing full-time
1:03.8	just a short 10 years ago, but it's that he started just before the biggest real estate crash
1:09.8	in history.
1:11.8	And if that wasn't enough, the projects that he was acquiring before the biggest real estate crash in history. And if that wasn't enough,
1:17.8	the projects that he was acquiring and taking on weren't simple deals like purchasing a stabilized apartment building or a fully leased triple net shopping center. No, not that simple at all. In fact,
1:24.3	he started off by redeveloping vacant buildings and repurposing them
1:29.0	for entirely different uses. And this, my friends, is not a business for the faint of heart or for
1:35.5	the beginner investor. And in this show with Jay, you're going to learn the following. You're going to
1:40.0	learn how Jay got involved in real estate after selling a software consulting firm.
	...

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