Our guest for this episode, Phil Capron, served honorably as a Naval Special Warfare Combatant Craft Crewman (SWCC) in the Navy. After he got out in 2012, he started his real estate business by selling houses to his Navy brothers and then listing them out when they transferred away from Norfolk.
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Now, he’s an active syndicator and CEO of Mission First Capital. His own mission is to provide everyone the opportunity to invest in multifamily properties regardless of income level and to support veterans and active-duty military personnel by helping them invest like high net worth individuals. Through his Reg-A Plus Fund model, he can take his non-accredited friends to invest with them and join their projects.
Key Points From This Episode:
- Phil was a navy veteran before he got into the real estate business.
- He first started flipping houses, then bought a couple of small rentals.
- He struggled with those rentals, so he bought his first multifamily building which changed the game for him.
- After his fourth deal he started his own syndication.
- He realized there’s a lot to do to run a successful syndication, so he decided to launch a fund.
- He started Mission First Capital which focuses strictly on capital raising and investor relations.
- He launched this Reg-A Plus fund model that allows veteran and active duty military investors who are non-accredited to invest.
- Phil shares some tips on how to manage that kind of fund.
- What is their goal for that fund?
- How does Phil prepare for a downturn?
- What are his predictions on the real estate market for the next six to twelve months?
- What are his daily habits or discipline that have helped him achieve success?
- How does Phil like to give back?
“My thinking with starting Mission First Capital is, if we focus strictly on the capital raising side, the investor relations side, and really providing a fantastic experience for military and veteran investors to come alongside a ride with us, through our projects, they don’t have to be concerned about the nuts and bolts of every individual project because we’re inside and we’re spread across the portfolio of assets...” [0:08:20.0]
“Our priority is to expand the opportunity to the most possible people and the kind of people like we worked with in the military are the ones that are near and dear to me, and then to make sure they get what they’re bargaining for, and then there’s some upside left for us.” [0:18:48.0]
“Since we’re going to this fund model, we’re more of a marketing machine than a person to person. But what I found with military folks is right under the current everyone’s looking for something outside of the stock market.” [0:24:11.5]
Links Mentioned in Today’s Episode:
About Phil Capron
Phil served honorably as a Naval Special Warfare Combatant Craft Crewman (SWCC) in the Navy, where he spent his days jumping out of planes, shooting, and manning the radios on the small fast boats that take Navy SEALs and other Special Operations personnel to and from their missions in non-permissive or denied areas of the world.
He quickly realized that real estate was something he had a passion for and committed to pursuing it further when his time in the service was over. He took a real estate license course while still in the Navy and upon separation from service in 2012 immediately went to work selling his buddies from his old unit homes as they transferred to Virginia from other duty stations. Eventually, he developed an appetite to create real wealth and dove head first into his first multi-family acquisition, a 13-unit property in Norfolk. Now, over 400 units later, he is a full-time multifamily acquisitions specialist.
Phil prides himself on creatively finding win-win solutions for complex problems and credits his time in the military with his tenacious no quit attitude and commitment to teamwork. Phil has been featured on many of the most well-known real estate podcasts and regularly speaks at conferences around the country.
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