This is part 2 of my conversation with Phil Capron, Phil Capron is a real estate investor who has learned a lot about the industry over the years. Phil learned that real estate was the wealth builder for him after purchasing his first home in 2010 using a VA loan while on active duty. He cut his teeth in the business as a real estate agent and by flipping properties in Coastal Virginia. He wrote his first book “Your VA Loan and How It Can Make You A Millionaire” in 2019, and in 2021 created the first 100% veteran-owned and operated fund backed by real estate First Capital.
In this episode, Phil discusses the importance of safety in people’s homes, no matter their class of asset. He feels an obligation as people in the real estate investing space to make sure their team goals are aligned and that their hearts are in it too. He expresses his concerns about the industry as it stands and how it can be challenging to provide a quality home to someone in a tough environment. He mentions that it is important for real estate investors to be aware of what areas may be more dangerous, so that they can take precautions when working in those areas. Listen in!
[00:01 - 09:09] The Importance of Providing Quality Security Measures
- Phil discusses the different classes of homes and how each one is different but still tries to provide the best home possible at each price point
- He feels that the industry should do more to make residents feel safe in their homes and that includes doing things like locking doors and windows, and ensuring that everything can be locked up
- He explains that it is important to do one’s part in order to make people feel safe, and that this includes providing quality security measures
[09:10 - 15:43] Focus on Having Good Cash Flow That Are In A Good Neighborhood
- Phil discusses how it is important to be aware of the situations in which you are investing and to know what kind of risks are involved
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- The importance of being able to handle difficult situations; and
- The benefits of having a high cash flow
- He points out that there are higher levels of complications associated with investing in economy housing compared to more expensive properties
- He recommends that investors focus on properties that have good cash flow and are in good neighborhoods
[15:44 - 22:22] The Active Military Presence In Real Estate
- Phil shares that there is a lot of military presence in real estate because it is a very successful industry
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- The military teaches people how to be successful under difficult circumstances
- He shares his company, “Mission First Capital”, that it is a real estate investment company that is focused on military and veteran investors
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- The company has a strong relationship with ADPi and its team includes friends of the founder who are in the real estate industry
- He says that the company is excited to work with military and veteran investors who are willing to bring value to the world
- He shares that the founder believes that there is meritocracy in the real estate industry, regardless of rank or experiences
[22:23 - 28:04] Closing Segment
- Phil invites us to visit his website: https://missionfirstcapital.com/
- Phil discusses that people are doing things they don’t understand, and it ‘s making it difficult to find work
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- He discusses how they’re feeling a lot of pressure lately and that it’s been affecting their work
- How the industry is changing and how it’s harder to make a long-term career in real estate
