Our guest for today is Cain McNeil, and he is here to talk about disaster management, transitioning from the W-2 life into real estate, and best practices for syndicators who are looking to collaborate with brokers. Cain left his job as a banker to become a commercial real estate agent and start investing in real estate in 2016.
Watch the episode here:
Listen to the podcast here:
Since then, he has scaled his portfolio to 40 units with a value of around four million dollars, and he has a management company too. His niche is mobile home parks and multifamily properties in Bay County, Florida. Today, we kick things off speaking to Cain about the mindset shift required to transition from a W-2 into full-time entrepreneurship. From there, Cain gets into what it has been like for him as a broker and investor in Bay County after the double whammy of Hurricane Michael followed by COVID-19. Next up, Cain speaks about his experiences as a broker working with syndicators, and how much easier it is doing business with honest ones. For all this and some best practices for staying motivated too, listen in with us today!
Key Points From This Episode:
- Cain’s journey into real estate brokerage and focussing on multifamily/mobile home parks.
- Mindset shifts Cain experienced after transitioning from his W-2 into real estate.
- Pushback Cain received when transitioning and the joy of the entrepreneurial mindset.
- How much money compared to his W-2 Cain made after selling his dad’s mobile home park.
- Managing the double whammy of Hurricane Michael and coronavirus.
- How helpful Cain’s network of local investors/insurance has been for disaster management.
- Cain’s experiences working with syndicators who were transparent and those that weren’t.
- How syndicators can be more transparent and reasons why a deal Cain mentions went bad.
- What first-time syndicators who hope to work with brokers can do to when approaching them.
- The hardest part of real estate for Cain: being sure that if he works hard things will work out.
- Tips from Cain for staying motivated: waking up early and having a solid morning routine.
- How helpful Cain’s management company has been for improving his business.
[bctt tweet=”My dad had a mobile home park that I actually sold for him. My paycheck on that was almost as big as what it would have been all year at the bank. — Cain McNeil” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Cain McNeil
Cain McNeil started investing in real estate as well as becoming a commercial real estate agent in 2016. He started with a loan from his parents that he has since paid back and has scaled his portfolio to 40 units with a value of around $4,000,000 since that time. He has carved out a niche as the mobile home park and multifamily go-to agent in his local market and is one of the top-producing agents in Bay County, FL. He owns a property management company as well. He has brokered deals for syndicators and can offer insight on how to work well with brokers as a syndicator. In 2018 Hurricane Michael, the 3rd strongest storm to strike the mainland U.S. made a direct hit on Bay County, FL. This disaster disruption was not yet fully recovered from when the COVID-19 crisis began. He believes he can give listeners valuable insight on how to maintain business through disasters.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: