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

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