GUEST SUMMARY
This week Phil Capron joins us in the lab as a navy veteran, Founder of Mission First Capital — which provides investment opportunities for veterans. As the author of "Your VA Loan: and How It Can Make You a Millionaire", Phil not only talks the talk, but he walks the walk having been in the same shoes as a veteran's face today. He purchased his first home in 2010 using a VA loan while on active duty.
Phil Capron, served as a Naval Special Warfare Combatant Craft Crewman. Upon getting out of the military, He got his start in the real estate business by flipping properties in coastal Virginia, helping many of his veteran peers as a real estate agent. Upon transitioning out of the military and elevating in his real estate ventures getting into apartment syndication, Phil quickly realized that there was a limit in the amount of veterans he could include in his deals for the simple fact that they couldn’t afford the traditional investments in the range of 50K as a barrier of entry. It became very clear that he couldn’t include his veteran military brothers and sisters due to regulations surrounding net worth or income.
Phil then decided he was going to level the playing field and fix that. Mission First Capital was born. At Mission First Capital, Phil makes it feasible for investors to invest as little as $5,000 which allows him to serve & educate his military community on the advantages and power of being able to invest in real estate assets collectively.
10 years and over 500 apartment units later, Phil's focus is expanding real estate opportunities for military members and veterans. His next mission is to create 1000 veteran-owned small businesses in the next 10 years
Ten years and counting in the real estate game, Phil is a true veteran of experimenting, as he experimented a proof of concept and is bringing it back to his community to build on. If you're a veteran or anyone else who feels that some barriers of entry exist, Phil joins us in the lab to help you break through those beliefs and give you real life solutions to overcome them.
HIGHLIGHTS OF THE EPISODE:
05:50 - Guest background
08:38 - Definition of Veteran
13:02 - How Mission First Capital created
KEEPING IT REAL:
17:56 - How to know if it’s a bad advice
20:54 - Measuring a good investment
22:29 - Syndication
27:49 - Goal for Mission First Capital
30:48 - What should be the best Call to Action
32:45 - Biggest misconception
33:27 - Best Advice Received
35:42 - Favorite Book
36:41 - Best tool
36:53 - Best Habit
37:55 - One 300 Units vs 3 buildings of a 100 unit
39:05 - Cash Flow vs Equity
NOTABLE QUOTES (KEY LESSONS):
"We only get one go around at this that we know of so you might as well take every opportunity everyday and do what you wanna' do."
"When you find something that works, don't keep it a secret."
"You need to work to learn before you work to earn."
CONNECTING WITH THE GUEST
LinkedIn: https://www.linkedin.com/in/phil-capron-mission-first-capital/
Website: https://missionfirstcapital.com/
Facebook: https://web.facebook.com/missionfirstcapital/?_rdc=1&_rdr
Twitter: https://twitter.com/MissionFirstCap
