Flipping Commercial Real Estate with Sean Katona
Episode 263: Flipping Commercial Real Estate with Sean KatonaGuest: Sean Katona is a commercial real estate investor with a focus on retail property located in the Phoenix, AZ real estate market. Sean has a background in tech & flipping houses before graduating to & focusing solely on commercial real estate.Big Idea: Sean & I discuss the method of driving 7 figures in value & profit in a single deal by rapidly raising the rent roll & net income. This Episode is Also Sponsored by the Lending Home. Lending Home Offers Reliable & Low Cost Fix & Flip Loans with Interest Rates as Low as 9.25%. Buy & Hold Loans Offered Even Lower. Get a FREE IPad when you Close Your First Deal by Registering Now at http://REILineOfCredit.comResources mentioned in this episode:http://SeanKatona.com/https://www.SimplifiedProperties.com/View the Episode Description & Transcript Here:https://reidiamonds.com/flipping-commercial-real-estate-with-sean-katona/Dan Breslin: So, Sean, let’s start with the origination story. The listeners. We’re gonna touch on commercial real estate retail mostly specifically today. But let’s talk about how you got started in the real estate business.Sean Katona: My story began in corporate America, I think like a lot of people, you know. Go to school, get a good job. And then I found myself just kind of stagnant, bored, but had saved up maybe 50 grand, and I was like, hey? What am I gonna do with this money? I chose to invest it in real estate cause I read rich, dad, poor dad! I think, like a lot of people out there, and I think what what comes organically to most people is, oh, I’ll go buy a rental house which for me turned into an accidental flip because it was cash flow, negative. And then I made a little bit of money on that I was like, Hey, this, this could be a thing. If I did a few of these a year it almost would replace. You know my salary, and at the time I was working at Microsoft but I was enchanted by, you know, the freedom and the unlimited upside potential. I could do you know, dozens of deals a year in theory, and and be making 7 figures instead of 6, so that fascinated me.Dan Breslin: Nice. So you were doing house flipping at the time, and you got up to a pretty good volume. I mean, how many years was that that you flipped houses before you transition to commercial, and maybe like what was the last year or 2 where it was like, hey, this thing’s a big thing before you started to wind wind it down…Sean & I Discuss Flipping Commercial Real Estate:• Phoenix Real Estate Market• Big Losses in SFR, Big Profit in Retail• Portfolio Cornerstone Properties• How to Land a National Credit Tenant
