How a Contractor Makes $40K+ Per Flip in Tampa Real Estate | Frank Brown

Frank Brown (00:00)

I would not venture off into fix and flipping in any market unless you have, and I’m just gonna put a number to it because I know the numbers well enough to say it 50 to 60 grand in money that if it caught on fire and went away, you wouldn’t really be distressed.

the days of being able to do real estate or whatever. I don’t even know if those days existed because they certainly did when I started, but it takes money to make money and it’s the same for real estate. And don’t believe the guys that say you can get into it with no money down and go get you a credit card from American Express and smack that out. That’s probably some of the worst financial advice I could ever provide to somebody who is in a position where that 50 grand is paying bills.

Dylan Silver (01:15)

Hey folks, welcome back to the show. Today we’re joined by Frank Brown, investor, flipper, and contractor in Tampa, Florida. Frank, thanks for joining us here today.

Frank Brown (01:25)

Thanks, Rob. We appreciate it.

Dylan Silver (01:27)

What types of deals are coming across your desk these days?

Frank Brown (01:30)

Well, most of the deals that I have are curative, right? So they’re coming from i.e. title or a wholesaler. and most of that is a pipeline that I’ve created myself by reaching out, and making these contacts and whatnot and targeting these individuals because my bread and butter was flipping houses. so I’m getting your standard,

Affordable housing, distressed properties, these curative deals that could either be probate, they could have delinquencies related to mortgage, related to hoa fees, delinquent tax. again, the probate down here seems to be kind of like a popular thing. multi-air, 10-20 air type style properties. those are the type of things that are coming across my

inbox but mainly because I built out that pipeline. So that’s not to say that I’m not getting pocket listings or deals sent to me from other people who are flipping houses that may not like the deal or may not think that the deal is good for them. and then I’m procuring deals off the MLS as well. the MLS is a pretty fruitful resource if you know how to use it. Yeah. You know what you’re looking for.

Dylan Silver (02:46)

Two thoughts that I had. I had a thought about the multiple airs and then MLS. We’ll get to MLS in a second. Multiple airs, tricky situations. you’ve got people who sometimes are fighting over homes, right? Sometimes they might not know that they have a right to the home. Sometimes they’re being, told and it’s at the last minute and now they want to have maybe a greater say, right?

And then of course you’ve got who actually owns the home and you have to sort through that. And sometimes that’s not clear. What’s your approach when there is a probate situation?

Frank Brown (03:20)

Normally if I’m involved in some direct to seller, which is it would be rare for me to be leading the charge in this case. I if I was handling that, I would probably go as far as I could with my knowledge and then bring it to a curative deal specialist. that you it’s usually some type of title company that specializes in this that I know of. And then they’ll handle

Whatever pieces of the puzzle need to be handled because in these air issues, you could have, relatives that are dead. you could have relatives that obviously don’t want to sell. and in those particular cases, you have specific affidavits that need to be filed, you could get into a partition situation. there’s a lot of understanding necessary here to handle these multi-air style deals. So

I would honestly I would turn something like that over to someone who specializes specifically in this because that’s not me. if it’s a simple three, four, five year deal and I can make contact with a relative and I can buy out their interest, I’ll work on that. I’ll work on buying out their interest and then kind of try to chip away at it. and help and usually they’ll help me either because I’m paying them to help me or just because they’re

Willing to help me find the other errors or whatnot. those are the path of least resistance type deals. Once I start getting a lot of pushback or I don’t know what I’m doing, I’m taking it to somebody who knows what they’re doing because there is always a way to the finish line. It just could be a very long lead deal. It’s true. Sometimes six to twelve months could be a little longer, even if you have to litigate. but yeah, that’s how I

handle most of those deals. And those deals seem to be some of the more fruitful deals, obviously. I guess there’s a probably a saying out there, I don’t know how it goes, but I’m sure the harder it is, the more money to be made,

Dylan Silver (05:09)

That’s the truth, right? the at the end of the day, when we were talking about this in the green room, in many cases folks who are finding those deals are being paid because of how many loose ends there are that maybe someone like a traditional realtor wouldn’t want to deal with all of these loose ends. And then not to mention the property could be distressed, and you’ve got people fighting, and it’s a niche within a niche. You mentioned that, when you’re

buying these deals, they’re coming to you. I’m assuming, referrals and also wholesalers and then your sphere as a whole. You’re a contractor, when you’re walking these properties, walk us through that. What are you looking for? And what’s something that if you saw maybe would turn you away from pursuing a property?

Frank Brown (05:56)

well, if I’m looking at it with the lens of like the contractor in me and I’m looking at and I’m getting my eyes on a home that I’m interested in purchasing, no matter what the but no matter what the deal structure is, whether you know it’s a distressed property or not or whatever. I’m looking at specifically the flow of the house. so I I’m talking there, there’s no back door in a bedroom, is the only way to get to the back type stuff. I’m not buying that.

I’m specifically looking for three twos, two twos, anything under 1500 square feet. It and specifically these parameters, because I like to keep the ARVs of these houses are under 400 grand. So I’d like to make I want to make sure they’re qualifying for all loan vehicles.

so the buyer pool’s a little bigger and obviously everybody knows it’s no surprise we have a we have an affordable housing issue in well specifically in Florida. really every but I mean Florida and the metropolitan areas. But flow of the home is gonna be big, single level, single story house, ideally block. But what I’m gonna really look for is major structural issues, right? if we’ve got big cracks in the wall,

big old settlement or a lot of settlement in the foundation or whatever that’s visible. Probably going to stray away from that. I’m definitely not buying in a flood zone and I’m definitely not buying a sinkhole remediated house. And not because I don’t trust any of those, just because they’re not easy to sell, regardless of how they look.

Dylan Silver (07:21)

You mentioned flood zone and I also want to get to buying on the MLS, but we’ll get to that in a moment. It feels like there’s a lot of flood zones. And I think when you look at the core of engineers map of all the flood zones, it looks like so much falls into a hundred year floodplain. so are you avoiding all hundred year floodplains entirely?

Frank Brown (07:42)

Entirely. If it’s not a flood zone X, I’m not trying to mess with it, man. Because it’s just I’ve dabbled in it. And when you’re buying when you’re flipping houses at the price point I’m flipping at, an extra two to three hundred bucks a month for flood insurance does break make or break the deal. And when you’re flipping a million dollar house, nobody cares if they got to spend an extra three hundred or four hundred dollars for flood insurance a month. They’re not that’s nothing to them.

To that buyers, So that’s the reason why it’s an issue. if I wasn’t at the price points in the ARVs that I’m currently at, I wouldn’t be concerned with the flood zones. the flood zone, the hundred year flood zone in the plains and whatnot. I have plenty I have bought and sold plenty of houses in AE flood zones that did not flood in any of the hurricanes that we just recently had, and we had the worst flooding that they’ve ever seen recently in the Bay Area. So

these houses stayed high and dry and probably will never see anything like that again in that home’s lifetime. But it’s still an AE flood zone, still requires flood insurance, and it still has the stigma of being in a flood zone. So I the sellability is what kills it. and the extra dollars for the insurance at that price point. Again, you go to a million dollar houses and above, nobody cares to spend three or four, five hundred bucks extra a month on flood insurance. they’re not even seeing that.

Dylan Silver (08:57)

Right, right. i it’s water under the bridge at that higher price point, but at the lower then it’s a sizable increase in your monthly payment that’s gonna have them looking at other areas that

Frank Brown (09:09)

It

makes sense. It does and it affects my DSCR when I’m trying to, if I’m trying to refi into something else that 200 bucks on a house that’s only getting twenty eight hundred bucks a month in rent is it will make or break the deal.

Dylan Silver (09:21)

pivoting here, MLS, right? The active listings, for sale by owner, listings that are expired, high days on market. When you’re on the MLS, what are you looking for? and what does that initial conversation look like?

Frank Brown (09:35)

Yeah, so I’m looking at two things. I’m looking at either something listed within a couple hours or something that’s been sitting out there for 60, 70 days. there’s so much competition here when it comes to that. with virtual assistance and everything nowadays, like these things are being scoured hourly, right? Like so when things are popping up, everybody’s got the parameters set, it’s like

These agents are getting bombarded instantly. The listing goes up. It’s a hot deal. They’re getting whacked, you right away. boom, boom. I try to differentiate myself by contacting them directly via text on my personal phone and just letting them know, like, hey man, listen, I’m the owner of this company. I’m not a VA. I’m not a wholesaler. I’ll sign a not I’ll sign a buyer broker agreement. I’ll sign a contract that’s not a signable. like

Here’s my terms, zero day inspection, 5,000 EMD. I’m trying to really, I’m trying to if I want the deal, I’m making sure they know I want the deal. I’m not bullshitting. I’m not trying to beat around the bush like I’m going, we’re we can go hard right away. it’s the deal. And I’ve when I can’t speak for others because I haven’t seen what that communication looks like from someone who maybe isn’t as

Aggressive as I am in terms of wanting that deal for themselves to actually perform the flip because I don’t not looking to wholesale anything, Right. That’s I’m if I want it, I’m gonna flip it or I’m gonna retain, keep it, and refi out of it. But I make sure that I’m putting the package in front of them and then they know that they’re talking to those to the guy. They’re not talking to V, they’re not talking to my PM, they’re not talking to somebody else, they’re talking to the guy that owns the business, that makes the deal, signs the checks, and is gonna wire the money in the next.

hour if we come if we can come to an agreement. So

Dylan Silver (11:56)

Now you’re in Tampa. Are you looking at deals? Is your buy box currently Tampa and Tampa alone? Are you looking at deals in other markets, Florida markets as well?

Frank Brown (12:05)

I’ve only done deals in city of Tampa and City of St. Pete. And I did a couple deals in Zephyr Hills. I’m now looking to do some more deals in the Hernando Pasco area. I’m looking at some stuff that’s kind of USDA related, some of the scrape and replace stuff, out there with the manufactured homes seems to be like a little niche that people are getting into now that I think

could be semi-lucrative. I don’t think it’s like a it’s not gonna be any kind of home run, but you could probably hit thirty, sixty K on average somewhere in that ballpark regularly.

Dylan Silver (12:38)

Right. Right.

Frank Brown (12:39)

So I am looking at that. I’m looking at some new construction up in the Citrus County area as well. but as of right now, City of Tampa, City of St. P, those have been my stomping grounds.

Dylan Silver (12:51)

ground up construction, new construction, this is a different beast entirely. I’ve known many flippers who’ve looked at getting into new construction and realize that there is a lot that can go wrong and sometimes they learn through experience. If you’re looking at new construction versus flipping and ground up versus rehab, what are the big things that especially new

Newer people should be looking for.

Frank Brown (13:20)

Well, it’s the property acquisition is a big piece on new construction. if don’t have the right lending in place, and you don’t have a permitted set of drawings, it’s gonna be a little difficult to get funding, for a piece of greenfield land with nothing prepared. so you could, you could be looking at a fairly large lump sum of money there necessary out of pocket just to get started. Now you can

Once you get going, you can get another investment vehicle to cover most of that land cost, if not all of it, and the new construction build. But you obviously have to have that money up front to be able to that working capital up front to be to do what you got to do to secure the land. the other thing too is if you’re not buy right, if you’re not buying right, and what I mean by that is like the land’s already entitled, it’s already zoned right, it’s ready to go, it’s ready to build for whatever you’re trying to build, you obviously have,

a due diligence phase that is they required those type of entitlements to get it ready to even build on. And that’s a whole separate animal, because now you’re dealing with utilities and infrastructure and regulations and parking and this and that and you height requirements and just there’s a lot of things that go into it. And it’s not the same in one borough versus the other or

one piece of the city versus the other piece of the city, So you have to really know what you’re doing in that area, which is why you see a lot of guys stay in that area, because once you know what to do in that area, you can rinse and repeat and you’re not having the learning curve over and over again. And the city of Tampa is not that easy to work with. they have a lot of they have a lot of requirements and they throw things on your plate all the time that you weren’t expecting. that’s the thing about new construction is there’s a lot of variables, but

It’s also on the build side much more controlled than the fix and flip because the fix and flip has a ton of unforeseen conditions, especially if you’re buying properties that are distressed physically.

Dylan Silver (15:14)

Absolutely. when we look at new construction as a whole, it feels like there’s a lot of interest. you have corporate builders, you also have people that are buying infill lots. So there’s more and more activity in the new construction space, but that doesn’t necessarily mean that this is, an easy pursuit to get into for all of the reasons that you listed and the process or

system skill set that you need to do new construction is different from a flip. There’s some flippers that can get in, get out. I certainly know a couple in Texas, right? Get in, get out. Maybe you don’t pull permits, and it’s done before anyone even notice. Right. Of course you can’t do that. You can’t build a home that same way. So it follows a totally different protocol. And that’s not even taking into account

what happens if the foundation settles and now there’s a crack running up through your new construction?

Frank Brown (16:09)

Yeah, there’s a lot of those variables that play. but there are a lot of things. Well, there’s actually it’s not a lot of things, but there are things that you can do in new construction and even in the flip side too, that will expedite a lot of that. a lot of guys like to gatekeep information, But there’s some processes that are very they’re they’ve been around forever. It’s just not a lot of people know about them.

That will accelerate a lot of this and get it, getting things out of the city hands and into private provider hands is ideal. That’s what’s going to get you the best bang for your buck, the speed to construction. so I would, if I was giving anybody pointers on what to do, it’s gonna be take your, partner with somebody if you’ve never done it, partner with somebody who has some knowledge

on that area and what is required. And that could be either through a civil or an architect. want find somebody who’s building in that area. Drive around, find a sign, find a house that’s being built, find something, and partner with that guy. And then, take it out of the take it out of the city’s hands. put it in the hands of a private provider. Let them handle your drawing review. Let them handle your inspections. If the city has certain things that they require that they need to be done, usually they have a pre-construction

inspection that they need to do, check your SIL fence, check, whatever this, that, and the other. Do that, obviously. But the more you can take out of their hands and into private provision, the better. And if you can do that, you’re already gonna be way ahead. The second piece of it is knowing who the hell’s building your project. So you need to have a good subcontractor pool. And that’s critical because if you don’t and you don’t know what you’re doing and you mismanage the job,

you’re gonna be eight up on the back end for all kinds of reasons. Holding cost, opportunity cost, permit, expiration, you name it, man. it’ll be, more there’s just a there’s it’s never ending. you let your project, bleed.

Dylan Silver (18:01)

another

one is theft i know a flipper that would even budget in some level of theft he’s like well we this

Frank Brown (18:08)

Then

Dylan Silver (18:09)

is gonna happen right and then you have what was called barrel alarms right you just have a big alarm in a barrel where if someone comes in then the alarm’s going off and so that’s part of it that goes into the arithmetic right and so you can

And trust it to a someone who may be a contractor if you’re an investor and you don’t have that experience swinging a hand or and understanding scope of work. But that is there is a danger to that. And probably the biggest common gripe that I hear from all folks involved in single family is their relationships with their contractors and subcontractors.

Frank Brown (18:47)

Yeah, I guess I’m a little harder to deal with than most on the being a contractor and dealing with subcontractors because I am a subcontractor at heart by trade on the concrete side, but I work mainly for your larger scale general contractors on the commercial and industrial side. So I’m used to reading, 100 page contracts, 50 page scopes of work.

know there’s a schedule for everything, there’s a liquidated damage for everything. there’s seven million emails documenting, Billy that threw the piece of, threw a Mountain Dew bottle over there on the ground, didn’t pick it up. so I hold my subs to a much higher standard, which I’ve had to become a little lax because I’ve had to realize obviously in the residential world, you’re just not going to have the same level of you’re just not going to have the same level of subcontractor.

Yeah. Performance and professionalism. But I still hold them to a high standard. And I still, I show them what I expect because I am a sub and I do operate as a sub. And I also self-perform my own concrete masonry. So I pretty much perform the entire show of our projects.

Dylan Silver (20:28)

H here’s a question for you. you’ve got a background in concrete, right? And so of course this informs you as an investor. For folks who are in the trades themselves, do you notice any one trade in particular that may be better suited to managing a job site if this is their first flip or their first new build?

Frank Brown (20:55)

Yeah, it’s definitely the shell contractor. If you’ve got it, if you’ve got shell experience, concrete masonry, if you’re that guy and you’ve got that experience, you’re gonna be the best suited because you deal with all the other trades. So you watch the MEPs work, you get you see what they do, you have to understand their systems, when they go in, how they go in. You don’t know the specifics behind it, and you don’t know the pitch of the pipe and this and that, but you understand the sequencing, the durations.

You know what it looks like. You have to touch it. You see it because we’re we come in, we start, they come behind us, they’re doing their thing, then we’re covering up their stuff, right? framing, we see the electrical, we see all the MEP systems. as we’re building these structures, especially multi-story structures, because the stuff’s coming right behind us. Some of it’s going in sequentially, at the same concurrently at the same time. the sequence is usually one and one or two and two, as we’re going up the structure.

So I would definitely say that the structure guys have the best opportunity in my opinion when it comes to ground up and even on the flips too. I it gives you it just gives you a good, a real strong baseline,

Dylan Silver (21:59)

Now it would be, I think a pretty sensible transition for folks that are involved in, concrete and shell work to go and take that skill set into i investing and doing this on their own, single family and so forth. But as I’ve learned through this show and just talking with folks in general.

They don’t all and I think in many cases most may not. and do you think that opportunity is being missed by a lot of folks who have gold at their fingertips without realizing that, they can apply this knowledge themselves?

Frank Brown (22:31)

For sure. Yeah. if they’re not if you have the capital and you’re not deploying it and you have that experience in your back pocket, you’re definitely missing the you’re missing the boat because it’s not as easy as building Legos, but it’s not rocket science by any means. And if you’ve already if you’re already in it and you’re feeling it, you’re touching it and you’re out there, the only other piece to it is the back of house stuff that’s being done to get you there, the managerial.

aspect of it. Other than that, you’re already doing it. You’re already there. So it’s a total miss for sure. But it takes a lot of courage to go out there and put your neck on the line to possibly have a fail.

Dylan Silver (23:11)

Saddle

up and go ahead and do it.

Frank Brown (23:12)

Yeah, it’s there there’s still I never wanna downplay that there’s still a lot of inherent risk when dealing with real estate. there’s a lot of variants, but

Dylan Silver (23:21)

There’s no question about it. And when I think about what folks are doing to acquire their first deal, and especially if folks have no experience swinging a hammer, no real estate background, and they’re trying to get that first deal, you can imagine how high that hurdle is. for folks who have that experience in the trades, in concrete, in shell work, that hurdle’s gonna be lower. And people might even want to JV with you because they understand that you have an expertise that maybe they lack, or at least you’re not starting.

at zero so to speak. I want to pivot though and talk about commercial to residential. was there an aha moment for you? what was this happening around you? Did you see flips going on? What made you decide initially, I’m gonna go do my first flip?

Frank Brown (24:04)

Well, it was 2023, you could throw a dart at a house and and I got lucky because my first couple my well, my third flip, I think it was, I had under I underwrote the project to sell for like 290. I ended up being like 280 into the deal when I was done after renovations because I just went way over and above and ended up selling the house for like 370, 380.

the market was adjusting for everybody and correcting everybody’s mistakes. So I was when I was seeing that, when I was seeing that happen. when I started flipping, I bought four houses from a wholesaler and within a week. I was closed and funded within a week, I had 150, 160 grand cash, First time getting into it, I’m just like, let me just go. And they all hit, and

I think, looking back, there was really not one moment that I can remember that was like, let me get into real estate at this moment. I had always had an interest in real estate because real estate to me was the only physical investment that I felt like I could touch and feel and taste and

made sense and it seemed like when I looked at everybody that was of anybody, their number one investment or number one means of income was real estate. And yeah, I was like, well, I’m already kind of doing it. I’m in I’m building. I’m a builder. let me just get into real estate. So that’s kind of how that started. And I was like, the low hanging fruit was, the fix and flip. obviously I could have quit tried to go the wholesale route, but I have having the building background.

and not really having much of a systems background. in terms of like the softwares and whatnot and yeah the sales size, yeah, the ad acquisitions, disposal side, all that I just that wasn’t a big interest to me. it was always there because I’m looking at the assignment fees that I’m paying some of these wholesalers because, they’re not double closing. we’re just going to the table and I’m some of these guys are some of these guys have hit I paid one I paid sixty grand one time.

Dylan Silver (26:06)

Did

that on a wow.

Frank Brown (26:08)

on an X. on a hundred and thirty thousand dollar acquisition price, me, the guy the he had it locked up for 70, bro. And I got him down. He was at like 150 and I got him down to 130. And I thought I was doing it. I never care what the wholesaler makes. Never gave two shits to me. if the deal worked for me, that’s all I care about. I don’t give a damn. I don’t care if he bought it for a dollar. Never bothered me.

and I would tell people that too because they would want to double close and I’m like, bro, I don’t care if you’re making a hundred grand. I’m only scheduled to make forty grand on this deal, but I know I’m gonna make forty grand on this deal. Right. So whatever you make, you made, dude. I’m doing four of these a month. you do it, do what you gotta do. I don’t care.

Dylan Silver (26:44)

That’s a great soundbite right there. Because as a wholesaler myself, that was always a big concern. That was a huge concern, right? Is if the assignment is too big, what do we do in this case, right? And it’s frankly refreshing to hear that, there’s an understanding. You’re gonna make yours, I’m gonna make mine, it’s a win. I don’t wanna deal with 20 airs, you don’t wanna deal with laying concrete or with,

fixing a heavily distressed home with foundation issues or something along these lines, that’s the win win.

Frank Brown (27:13)

Yeah, and the other thing too is I my I understand too on the wholesale side that you’re not gonna always have fifty thousand dollar assignment fee. you might have five, ten, fifteen, I am pretty consistently going to hit 40 to 60 grand on a flip with an that with an ARV of 280 grand. I’m getting 46, Like pretty consistent.

So if I want to do a deal, I just do, I just find that deal. I do that. It doesn’t take, I don’t have to do anything really to find the deal. You’re finding it for me. So it’s, it there’s a I understand that, I have the opportunity to say, I want to do a deal. I just go do the deal. I don’t have to, I’m not beating up, dialing till I’m blue in the face and sitting up nailers to find that golden goose. I I’m not looking for the golden goose. I gotta.

process. I know what I’m looking for. I just keep rinsing and repeating. And that’s what I did. But I kept doing it. and that they were there. They’re always there. They were always there. They will always be there.

Dylan Silver (28:09)

Yeah, you’re in the Tampa market and we were talking in the green room. It feels like there’s multiple, styles of Florida. You’ve got West Coast of Florida, Tampa, Florida, then you’ve got South Florida, Miami area. And then I was mentioning Country Florida, NASCAR, Florida, and then you’ve got Disney Florida, right? And then you could even throw in Space Florida, right? Where they’re doing all the rockets and whatnot.

If folks are looking to find deals in Florida and they’re buying from out of state, is there a specific area that they maybe should be looking at if they’re trying to find cost effective flips, low acquisitions points with high upside? Or is it really more about having those relationships and understanding that market more so than picking the right one?

Frank Brown (28:57)

I would say if you were gonna pick a market and you were gonna get just getting started out, low risk, low acquisition, right, low, low barrier to entry, you’re Jacksonville is gonna be like the place to be right now. it’s always gonna be that way. if you’re not if it’s not Jacksonville, I wouldn’t rep make like I wouldn’t really have a recommendation in terms of the an area. I would be leaning more into it’s the relationship. And this is this market is.

This market’s tough, man. This is a hard market. this is not, this is not the 2023 market that I got in doing real estate that, it could do anything blindfolded and make money. This is like you, you’ve got to know what you’re doing right now, or you run a fairly large risk. Unless you’re partnering with people who know what they’re doing. And then you have that layer of protection. But other than that, right now it’s tough, man. It’s tough. Florida’s tough.

Dylan Silver (29:46)

No two ways about it. and it’s on all sides. even in the brokerage side, we see, agents falling off, people not wanting to renew their license. Should I take these continuing education classes? You see lenders falling off. It’s tough for everybody on all sides. And so on the flip side, the people that have the staying power are gonna be the folks who are able to pivot and are able to be creative and are able to have more offerings, not just

For themselves as an investor, but also for their client. they can be reliable to underwrite effectively on different deals. if they’re a contractor, they they’re now realizing, okay, I’ve got to get cash reserves from that work and so forth. We are coming up on time here though, Frank. any new projects and activities you’re working on these days, also anything you’d like to mention directly to our audience.

Frank Brown (30:38)

project wise, right now I I’ve got a four-unit single family attached townhome project. That’ll be my first townhome project that I’m working on with a friend of mine. and we are in design right now. It’s kind of one of those like learning curve projects which it’s taken a little more time than we’d like, but we’re also not really pushing the pedal to the metal too much. here we are, it’s

literally November in four days, five days. So you know what that means. It’s a lot of things are going to slow down. I’ve got four kids. So it’s I I’m making it a point now to put more time and effort into that side of my life. but yeah that’s pretty much it project related I am looking like I said earlier at some scrape and replace type projects coming up those will be new for me

and then the ultimate goal is to get into the industrial development space. So developing tilt up warehouse, because that’s what we specialize in doing on the concrete side. So warehouse, warehouses, medical office buildings, and storage facilities is kind of where I’m trending. So I’m look working on raising capital for some of that right now. but yeah,

To the audience, like I said, if you’re getting into real estate, obviously the lowest hanging fruit with nothing, you could grab the wholesale piece. But

I would not venture off into fix and flipping in any market unless you have, and I’m just gonna put a number to it because I know the numbers well enough to say it 60, 50 to 60 grand in money that if it caught on fire and went away, you wouldn’t really be distressed.

the days of being able to do real estate or whatever. I don’t even know if those days existed because they certainly did when I started, but it takes money to make money and it’s the same for real estate. And don’t believe the guys that say you can get into it with no money down and go get you a credit card from American Express and smack that out. That’s probably some of the worst financial advice I could ever provide to somebody who is in a position where that 50 grand is paying bills.

Because if something does go wrong, now you owe fifty thousand dollars and they’re gonna and they’re coming to get it, and now you’re trying to make your mortgage and it just it it’s not the right way to go about it. So that’s what I would leave with is don’t hype yourself up thinking that anybody can jump into the space and get hot and heavy. It’s totally doable. You can find the you could find the right partners.

and like I said, the what I mentioned earlier in terms of taking as much as much of the job in the pre-construction phase out of the city’s hands, out of the local jurisdictions and put it into private provision is gonna get you eons ahead of most people and making sure that you got the right contractor or if you are the contractor, the right subs in place to get the job done efficiently, proficiently. Those two pieces there are gonna

are the two biggest pieces of the puzzle. Speed to market is critical, whether you’re fixing, flipping, or building middle, ’cause you obviously underwrote that deal with a certain time frame. So

Dylan Silver (33:39)

Frank, thank you so much for your time today. Thank you for joining us.

Frank Brown (33:43)

Yeah, absolutely. I appreciate it.