Welcome to the Accelerated Investor podcast with Josh Cantwell. If you’re looking to retire early with forever passive income, you’re in the right place. This podcast is the go-to destination for real estate investors, both active and passive. And multifamily apartment investors, both new, intermediate and advanced. Now sit back, listen, learn and accelerate your business, your life and your investing with the Accelerated Real Estate Investor podcast.
Josh: So, hey, welcome back to Accelerated Real Estate Investor in this episode, I am really excited to be interviewing Colby Bowers. Colby is the owner of six hundred and thirty-five units of multifamily and mobile home parks. He is a investor who has made the full pivot from residential investing to full time multifamily and commercial investing. And in this episode, I really think you’re going to love some of our takes, especially hearing from Colby being a wounded warrior. Colby was a twenty-three-year veteran of the United States. He was actively deployed multiple times, was injured in combat, suffered multiple concussions and was diagnosed six years with traumatic brain injury in this episode of Accelerated Investor. I’m really excited because we actually focus and hunker down on what we call the just cause. Colby takes 20 percent of his company’s profits and separates those out and gives those back through his nonprofit. His 501C3 called the paper Crane Foundation, which focuses on research for people suffering from traumatic brain injury, whether it’s sports, whether it’s boxing, football, whether it’s an accident, whether they’re in the military or their civilian, whether it’s an injury in battle.
Josh: I think it’s amazing to hear and talk about having a cause behind your business that allows your business to play the infinite long game. And they have reasons for owning and running your business that are bigger and more important than just profits, than just money. In addition, number two, you’re also going to hear about Colby’s favorite off market strategy for finding multiple mobile home parks, multifamily deals off market without brokers. And you’re going to find number three. You’re going to hear our conversation about how Kobe’s able to find more deals, get more off market deals and raise more money by implementing his just cause in every conversation that he has with sellers, brokers, investors, realtors, attorneys and title companies. And they’re going to really love this interview on accelerated investor with Colby Bower’s
Josh: So, Colby, listen, so excited to have you on today on Accelerated Investor, thanks for taking a few minutes to join me. How are you? Thanks for coming on.
Colby: I’m doing well, Josh. Thanks for having me on. I’m excited to be here today.
Josh: Yeah, so listen, I’m always interested to hear when I meet kind of a new friend, interview somebody new that’s in this multifamily space and building a portfolio, especially in your story of having made the pivot in the last really twenty-four months from residential to full time commercial. I’m always excited to see what you’re up to today. I always going to compare notes with people see like what am I up to later on today or tomorrow in my business? What are you most excited about in yours right now?
Colby: I’m excited for 2021 and this new vaccine. And finding our new normal. 2020, it was a rough year for I’m sure a lot of folks, especially me, didn’t do a single deal last year. So fast forward is I just close on one deal. I have another one under contract. Excuse me. I close on another one tomorrow, I have one under contract and I have two more in the pipeline that I’m going to be walking next week. So huge transition from last year, excited and out of all this, you know, a couple hundred units from working on one I’m most excited about is this small little 20 unit that I’m going to be doing due diligence and inspection on this weekend is it’s right across from a hospital. And we’re going to turn this into a extended stay type concept. So it’s not an Airbnb, but yet it’s not long term rental. It’s across from a hospital. We’re going to basically set it up to focus on patients and patients, families that go to this clinic are this hospital and are there for long periods of time. So we’re actually working with the hospital to help set this up so they can help funnel clients basically and tenants to us.
Josh: Fantastic stuff. So let’s peel back the onion on in that a little bit. So you own now over six hundred and thirty units, but you didn’t do a deal last year. And I know you just recently made the pivot from residential. We just sold off in the last twenty-four months, kind of sold off your last couple fix and flips and rental properties and residential and made the kind of official pivot to commercial. It did that in the middle of a pandemic. So what were some of the challenges that you saw that you faced last year? And how do you see yourself solving some of those challenges as we go into 2021?
Colby: Yeah, no, that’s a good question. You know, when obviously the pandemic hit and we had to shut down, you know, I was still receiving. So prior to that I was a lot of our deals and stuff were coming through brokers. And that’s where all of our deal flow. And what we were noticing is we were still getting deal flow from the brokers. It was slowing down, didn’t dry up, but really slowed down significantly. But we’re also seeing is we weren’t really getting deals. We were seeing properties, but not too many deals from the brokers is still that pre covid mentality. And, you know, we it did affect us. And so we’re not going to just we don’t do a deal just to do the deal. We’re not in it. We’re in it for it to make sure our investors are taken care of and so is our communities. And so we had to actually we took about three or four months and took a step back and was like, OK, how do we pivot? And so what we what we decided to do and it’s carried over to now is we still have those relationships with the brokers, what we’re focused on more than direct to sell or so doing those mailers, cold calling. We hired a VA, we got a script, refined it and got our list and started calling. And we’re seeing more traction. So all the deals I have right now, but one has been all direct to seller.
Josh: All fantastic stuff. So let’s peel back the only a little bit more on that then. And so we’re talking multifamily. We’re talking small, medium and large sized buildings, multifamily, meaning almost all apartments, mobile home parks, things like that. So help me understand a little bit better about where you’re getting your data from. Where do you like to get your best lists and who are you targeting when you’re doing your cold calling a direct mail for multifamily apartments?
Colby: Yeah, there’s a number of sources we use, so we’ll kind of do a little data mining. And we’ve hired like a VA to go to the tax assessor’s office trying to find out who owns what properties. And, you know, and it goes back is being in this industry, you have to build a network in relationships or keep. I’m not too proud to say that I’ve probably sent a bottle of bourbon to somebody that has access to nationwide costar’s and have received a couple of lists, you know. So just how…
Josh: I’m not too proud to say that either, by the way.
Colby: Yeah. You know, it’s you got to play to win. And that’s been you know, it’s helped us out. So then we’ll take that list and we’ll actually crunch it down and we split it up into two parts. We do what I call mom and pop. So anything from twenty units to seventy five units is that’s what we’ll focus on that. And we kind of focus our template more for the individual owners. They’re the ones that they don’t own a portfolio, they’re not a company per say, and that’s we’ll target them. And for anything that’s seventy-five and above we still call, but we’re having less luck on those larger properties, but we’re starting to see a change in that. So we’re we have had a lot of the owners from these corporations that own a portfolio that are reaching back out and going, hey, we’re interested. Let’s talk through this. And, you know, so where it started last year was really the small properties. The two I have on my plate right now is one is a hundred and thirty-six unit. The other one is seventy-two units right at the upper end. And yeah. So we’re starting to see a little bit larger. There’s larger properties that are wanting to buy bypass using the broker.
Josh: Yeah. Now I just had a great walkthrough yesterday on a two hundred and ten unit and it was interesting to talk to the broker. We’re standing out front before walking into one of the units and the broker says, look, this guy never planned to sell his own this building. It’s been in the family for fifty-five years. It was original developer. He since passed away. The son now runs and manages the company. But there it was interesting because it was such a specific reason to sell. They said they’re concerned that the new administration, the Bush administration, is going to have so many possible tax changes and they’re going to eliminate the step up in basis. And if they eliminate the step up in basis and for those of you guys that don’t know, when somebody passes away and somebody inherits something, whether it’s stock, whether it’s real estate, there’s what’s called a step up in basis.
Josh:So imagine owning a building. For thirty years, the original developer, the founder, passes away. The next generation inherits the building. They’re going to step up in basis to what the now value is. And they now own that building and they have to pay tax when they sell it down the road. But only the tax difference between what it’s worth. Let’s say it’s worth thirty million. And when they inherited it was worth twenty million. They have a new basis at twenty million. OK, otherwise without the step up in basis there would be no basis, which means they would have to if they sold the building for thirty million. They’re paying tax on thirty million with the step up in basis at twenty million. They’re now paying tax on ten million. So the only reason why this guy is thinking about selling now is because the Biden administration might get rid of the step up in basis and the sun. The kids, the grandkids want to sell the building.
Josh: Now, that’s a great building. I wish I would have got the lead directly to the seller, but it came through my broker. But there’s this whole new reason why people that have owned buildings for the long term are now concerned. They are selling so Kolby, as have you, your firm, if you started to talk about some of these possible tax changes, people possibly losing the ability to 1031 exchanges and some of these new reasons for sellers to be motivated, that could be a reason why going after them direct a seller might see a wave of people selling buildings now, possibly move on them for a long time. What are your thoughts on that now?
Colby: You know, I agree with you because when we preelection, we had a feedback from a couple of sellers that were tooling around with the idea of selling or not. And their hesitation was is, well, we’re going to see what the outcome of the elections are. And so they were hoping they’re like, you know, a lot of these folks were like, hey, if Trump stays in, I’m going to keep the property. And so we’re actually right now is we’re following up with those folks and they’re ready to sell. So, yeah, I think it’s you know, we were seeing it a little bit. And you’re right, we’re seeing a little bit more now as people are looking at doing it. And this one we’re looking at seventy-two unit. They want to own or finance it. Like you mentioned, they built it from the ground up, owned it, zero debt on it. And they’re looking at it like, how can I avoid capital gains? How can I do this? Let’s go ahead and sell it. But I’m going to owner finance it. And we’ve got them top down right now to about eight percent down payment. And I think we can get them lower than that. But yeah, so, you know, in great terms. So, you know, people are looking to planning ahead.
Josh: What kind of marketing do you do, direct to seller, so if you get a Costar report for those of you’re not interested and are not aware of what costar is, it sounds kind of the gold standard for commercial real estate, multifamily office, retail, etc. They aggregate all the data into a private database that they own. This is a huge billion-dollar company. They own apartments, dotcom, they own costar. They own 10 auctions. They own all these different sites and they aggregate the data. And so it’s fairly expensive to own a subscription. I own one for the state of Ohio. It’s about seventeen eighteen hundred dollars per month. And nationwide subscription is about forty-four hundred dollars per month. It’s about fifty sixty thousand dollars a year. But once you have that data and you can pull all different kind of lists from it, no different than if you use a software like Accelerated Investor Office, like my students use for residential. But once you have that Colby, what is your favorite kind of message that you put on your marketing? And is it a postcard or is it direct mail or is it a bottle of bourbon? What kind of marketing mechanism do you use to get to these motivated apartment sellers?
Colby: Yeah, you know, we it’s ever changing, honestly. You know, we’re always trying new things to get those conversion rates and stuff up. You know, when we first started last year, we were doing mailers and really weren’t getting much of a good response. We started doing cold calling and started to see a lot better conversion rate and getting those leads. And, you know, our approach with the cold call is we don’t do a hard sell. So this one is like, hey, you got money now you want to. But I need to buy something in 30 days. You know, we we’ve kind of I don’t like that myself, so we are approaching this, we kind of leverage what we what we’re about. So we put in there is a veteran owned and operated company. Everybody on my team, even if they don’t work for me, are veterans. We just it’s a great community. We just kind of gel together and it kind of resonates with some of these buyers. And we also show that, hey, you know, we want to take care of this property just as well as you where we’re long-term investors. And, you know, we donate. We put our philanthropic side of the philanthropic side of things is, you know, we donate 20 percent of our profits and 20 percent of our units. We try to set aside for HUD bash or at-risk veterans that would be coming home.
Josh: That’s fantastic.
Colby: You know, and just kind of taking that. And like you mentioned, you especially these you know, there’s an emotional attachment on this property for 50 years, maybe two generations of ownership. You know, they don’t want to see it necessarily go into a big corporation, a big read, where it’s just another number, because all these folks that are self-managing. So these tenants are family. So we’ve seen a lot of good traction with that. We are getting ready to implement a postcard campaign and ad mailers just because we don’t want to inundate our markets with a bunch of phone calls. So we’re going to kind of do more of a drip campaign with some mailers and postcards. Just kind of keep that top of mind. And it’s typically just a friendly thing going, hey, you know, we like to have that. I can handwrite them because I get tantrums anymore. It seems like trying to write all these addresses, but the back of our postcard, what we can do is kind of it’s like a handwritten message that’s printed. And then what we do is we’ll hand write in like the address and like the name of the owner saying, hey, we’re interested in purchasing. So that’s kind of our next step, we’re going to run that. And we’re looking at a couple like AB type test runs to see what we’re going to get back on the mailers.
Josh: There you go. Yeah, I definitely find when we’re working with we have a fifty two unit that we’re about to buy and that one came off market, no broker involved. And, you know, mom and pop type of owner on the building for a long time now wants to get his equity out so he can basically pass the equity along to his kids and grandkids. And the kids aren’t fighting over the building. It’s just very similar to residential in that the primary sellers of apartment buildings are going to be those people that are in their 60s, 70s and 80s, no different than residential, that have a lot of equity in their building, owned it for a long time, selling it for ease of transition of an estate plan, want to want to take care of that while they’re living. Just have but have a significant net worth to be able to pass down usually a couple million dollars or more, but still very mom and pop ish. Right. Because a 50-unit building could still be a two or three- or five-million-dollar asset. Right. Depending on the market that you’re in. But it’s a lot of the same motivations of having the building a long time. I’m not going to do a 1031 exchange because I want the equity out. I’m concerned about the step up in basis issue. I don’t really have a lot of extra money to kind of continue turning units.
Josh: And so, Colby, your strategy of kind of partnering with people and a lot of times it’s a broker, commercial broker, commercial lender that’s got access to costars. An easy way to get that list. It’s fantastic stuff, Colby. I’d like to hear more about your what I what I refer to as yourkind of just cause there’s a great book called The Infinite Mindset, The Infinite Game, listening to it now and they refer to this in the book of of what they call their just cause. And they’re analyzing different types of businesses that have lasted a long time and taking this kind of infinite mindset, this long-term mindset to owning and operating your business, in our case, buildings and real estate. But you have a just cause around veterans. You call it The Paper Crane Foundation. All of my listeners can go to Paper Crane Foundation dot org. And that seems to be your just cause, right? Taking care of veterans, employing veterans, setting aside housing units for veterans. And it gives your business a little bit more meaning. And in a time of challenge or a time when things are maybe not going right in a business, a lot of times people that can rally around a cause are much more likely to stick around, have longer employee retention, longer resident retention in your buildings because they know that there is a cause. So I’m interested to hear more about your cause. The Paper Crane Foundation and working with veterans and how is it helped you run your business to have more of a purpose and a cause that people can rally around?
Colby: Yeah, no, thank you, Josh. You know, it started out with just the business piece of, hey, 20 percent of my profits. I donate back to veterans and first responders and charities. And my wife will tell you that I’m not a very patient person. And so that 20 percent wasn’t growing fast enough and not going far enough. And when I wanted it to do so, we started the nonprofit, the Paper Crane Foundation, to help accelerate that because, you know, work in multifamily working. This business is not there’s apparently I don’t have enough hours or I don’t work enough in multifamily that I needed to add on another full time job. And so, yes, we we started the Paper Crane Foundation. And it’s really it’s right now it is focusing on veterans and first responders. But the ultimate goal is to have it be a global help for people, civilians as well, that suffer from traumatic brain injury and post-traumatic stress. And so this is our inaugural year. And basically what we’re doing is we’re focusing on the research side of things. So I’m taking myself I’m a wounded warrior and injured multiple times, multiple concussions. I was a medic to combat deployments. And so that’s kind of where I’m coming from as being a patient, but we didn’t want to just be a oh, you know, like any other charity out there that just does events, nice little things, little trips, retreats, blah, blah, blah.
Colby: We want to do actually something that would have a lasting impact. And so we wanted to focus on the research side of things. And so myself and five other wounded warriors and researcher were actually we are going to summit or attempt to summit Mount Kilimanjaro this late summer. And really this is our kickoff. So this is the duel of this is one is to increase awareness to concussive injuries. It’s not just military. Military gets a lot of the focus right now, but first responders, professional athletes, even amateur athletes, hockey players, football players, they’re always in the news, you know, some kind of brain injury. And so that’s what we want to focus on, is the studying of that and more specifically, the study of that, but also is how we can field research equipment that will allow for earlier diagnosis myself. My experience, it took the military, it took them six years to diagnose my traumatic brain injury. Folks that are going it was multiple years because a lot of symptoms mimic other conditions. So, you know, the issue with that is, is, well, it’s a brain injury. So if it heals and but you don’t fix it, it’s going to heal broke.
Colby:If you catch it early enough, you can actually retrain the brain to compensate for the injuries to that portion of the brain and be able to have a lot more productive life there. Still, even after the fact. You know, it took them six years. I had a lot of damage, obviously healed from it, went through additional outpatient stuff and was able to get better. I walked with a cane. I couldn’t I was tripping and falling upstairs. Could hold my son to now I don’t walk with a cane. I still can’t go and do everything that I could before. But I still have a better outlook on life. So that’s the premise. So this is a kick off. We’re going to do a five-to-seven-year study with the marksmanship to brain health out of Denver, Colorado. And yeah, this is my wife. I know. And I spent a lot of time. This is my passion because I get up every day. And I think being in the military, you know, you’re part of something bigger than yourself. And so when I get out, you know, in a lot of veterans, you know, you miss that mission, you miss that that the camaraderie and you miss that that why basically. So trying to create it here ourselves. And, you know, every deal I do is I don’t look at it is like, oh, I can buy me a Lamborghini or whatever, because one is I live off a dirt road. So that ain’t ever happening. And the other thing is, is I look at it does more money, I’m making more money are the more people I can help.
Josh: How is having that cause and again, in the book, they call this the just cause, the just cause, the just cause. It really has been resonating with me is I’ve been listening to it over the last couple of weeks. How has that helped you and your team to be more efficient in what you’re doing? Does it give you more alignment with the type of properties that you’re buying? Does it give you more purpose in your meetings that you’re holding? And how is having a just cause running the business give you more of that purpose and more direction when you run a business that maybe doesn’t have one, that’s just all about money. It’s all about profit?
Colby: Yeah, it definitely it keeps the team focused in it. And, you know, because as you know, there’s long days in this and there’s a lot of setbacks. It’s whether you’re dealing with this, you know, whatever the case may be, you think something’s going one way and then you get a left hook and you know, and it becomes a challenge. And it can you can you know, there’s a lot of burnout. I think if you really grind, grind, grind, I think having this instead of just focusing on the money and, you know, the materialistic piece of it going, hey, we’re doing this for a reason because what we’re going to do is going to have an impact on folks and people greater than ourselves really helps keep that motivation and focus the other thing it’s really done is, you know, there’s a lot of there’s, you know, investors out there that they want you know, not only do they want a good return, but they want their money to have an impact and have change.
Colby: So really is looking at as it’s trying to bring impact, investing to the commercial real estate, you know, it’s usually you don’t see that it’s all about the money and all you hear is, you know, the fancy cars and stuff. So I think with our spin on it is open up a lot of doors, not only with investors, our partners, but also even with our sellers. You know, there’s been many a time where I’ve gone on the phone to follow up on a lead and they’re like, you know, you can tell that the seller is frustrated because they’ve had 20 people call them interested in buying your property. And I don’t even ask them I before even go into it. I’m like before I even ask them if they want to sell their property, I just start talking to them about my company, what we do, what our why is And I can’t tell you how many times where they’ve softened. And we’ve actually you know, I believe there’s I want to say two of these deals that I have now that we’re where we’re at in the process because of our why. So I think it’s helped us overall and it’s going to help us grow as a business.
Josh: Yeah, I think fantastic stuff. And by the way, like, I can’t I can’t endorse this book enough, Colby, not only to you, but to all of you, the book is called The Infinite Game, and it’s a fantastic, fantastic book. And I got to find the infinite game performance in the short term versus long term. The author. Geez, I can’t even read it here, you’ll find it, it’s unbelievable, read it. I think one of the things that we’re evaluating now as we’ve built a fairly sizable portfolio, a couple of hundred million dollars, and our team having kind of trouble coming up with like a mission, like, what are we doing? You know what I mean? Other than just trying to buy apartments for the sake of return. And you’ve obviously been through a natural experience being in the military and actively deployed. And so I think I want to encourage all of our listeners to try to think of that, like, what is the real cause of what you’re doing that can live forever? And I think about my kids, my grandkids, but I start to think more about even our employees and our employees, kids and grandkids.
Josh: And this is a company that when the you know, the stuff hits the fan, are they going to come to work because they love the environment, they love what they’re doing and they love the cause? Or are they going to just come to work to mail it in and get a paycheck? You know, which kind of business would you have? Which kind of business has more of a long-term impact? And it’s a place where people are going to want to come because they have a cause. And clearly, that’s one of the reasons why I was really interested in interviewing you today. Colby, I’m also interested to hear you mention your investors or your passive investors wanting to invest with you because it has purpose. So how has having a cause and a reason and a why when you talk to an investor, maybe have an investor invest more with you than other options? You know, there’s lots of options that commercial real estate, there’s the stock market, there’s crypto, there’s cannabis, there’s a thousand different places people can put their money. But how is having this cause? Again, the Paper Crane Foundation, give me a specific example where somebody said, you know, I want to invest with you because of this other reason.
Colby: Yeah, yeah. No, it happens more often than I ever thought it would. I honestly, when I first got into this, it was the way that we developed was more for me to keep going. And the more I talk about it and talk with investors and stuff, I’ve had one. He’s like, I don’t have any money right now. This is he’s like, I love what you guys are doing so much. I am saving because I want to invest with you because of what you’re doing. Right. And so I’m like, I’m helping somebody, you know, get into investing because they want their money to to go to a good cause or help, help, you know, benefit a good cause. And they don’t have any money, you know. So it’s like it’s motivating them to get into the game, to set themselves up for success and for their family. And yeah. And it’s I’ve had it multiple investors that have come through there and be like, you know. They like the openness, like, you know, I am not perfect, you know, I make mistakes daily. Just ask my wife, she will tell you. All right, you know, I’m human and so I don’t sugar coat. I try to open. And that along with our why is great because let me just say so we’re closing tomorrow on my first of two mobile home parks.
Colby: And an investor who’s never invested with me before, you know, built the relationship and stuff and they’re interested in one is they love what we’re doing, but they also they want to kind of keep behind the curtain a little bit like, hey, if I invest, you know, can I kind of sit in on some meetings? Like, absolutely. You know, come on, you know, you want to learn, great. You know, and I’m not worried about them coming in just to take all the information. And then they go out and they find their own deals. I’m happy for them because I look at it as what they’re my future partner. I took care of them. I taught them, didn’t ask for anything. Yeah, they invested great. But even tell them if even if you don’t give me any money, if you’re not going to invest in this deal, come on in to the meetings and learn because I look at it as if I’m helping them. They’re not my competition. They’re my future partners for them. They’re going to go find a deal and guess who I’m hopefully they’ll come back to me. Hey, cool. We thank you for being a mentor and blah, blah, blah. Hey, I’ve got this deal. You interested in coming in and help us sponsoring it and.
Colby: Oh, hey, by the way, I want to take maybe twenty percent of the profits off of this deal. And I want to invest into your nonprofit or the other nonprofits that you’re supporting. You know, that’s my goal with this stuff. And I want you know, the biggest thing is I don’t want to be I don’t want people to know Colby Bowers. I want them to know Better Pride investment group. So that’s where I want my company to go, because honestly, I don’t want to do this forever. Yeah, I want to be more with my family, so I don’t want to be the focus of this. I want to set the precedent, set the processes, set the culture, bring on folks that will follow it, can continue on the legacy. And then let me go and spend more time with the family and be behind the scenes.
Josh: Wow Colby, I love your perspective on all of this. It’s fantastic stuff. So last question. Now that you’ve become a more mature business owner, you have sort of a just cause it’s leading your company. I love the fact that you said, you know, I don’t want people to know me. I want them to know my business. My business has this kind of infinite legacy to it. And it’s also not only making profits, but also giving back probably some things you’ve learned along the way. There’s probably some advice that you would give your younger former self some things that you do differently. What kind of advice would you pass back to our audience? What have you learned along the way that you wish you had done younger or sooner?
Colby: Yeah, so I won’t repeat what everyone else repeats on podcasts is going bigger, faster, getting into multifamily and all that. That’s great. I hear that a lot. I would say is is pretty much three pieces of advice is one is is don’t take no for an answer or don’t take. Hey, you can’t do that for an answer. There’s always a way to get to yes. You just got to figure it out. If people are telling, you know, it just means nobody else has done it, you should probably look into it. The other thing I’d say to is, is don’t be greedy, you know, create a win win situation for you and the seller, especially in this industry, because reputation is a lot. And if you go through and you try to squeeze every little penny out of each deal, you know, it’s going to get out there and, you know, you’re going to close less deals because you’re going to find a reason not to create that win win. And it’s happened to me. I’ve had a great relationship with a seller. They’ve come back after closing, going, hey, this was great. I have these other this other property. Are you interested in buying? So that’s so keeping that in mind. And the last thing and probably the most important thing is take care of yourself. You know, if you’re not taking care of yourself mentally and physically, you’re not going to be able to take care of your family, you’re not going to be able to take care of your investors, and you’re definitely not going to take care of your business.
Josh: Fantastic stuff, Kolby. Listen, so for all of my listeners, check out Veteran Pride Investment Group LLC and also check out Colby’s nonprofit Paper Crane Foundation dot org. Colby, listen, thanks so much for joining us today on Accelerated Investor.
Colby: Thanks for having me. Josh, been fun.
Josh: So, hey, I hope you really enjoyed that interview with Colby Bowers. Don’t forget to subscribe to the Accelerated Real Estate Investor podcast and the Accelerated Real Estate Investor YouTube channel. So you never miss another episode. Also, don’t forget to visit Colby’s Foundation Paper Crane Foundation dot org. And also don’t forget to implement his strategy of partnering with a broker or a lender who has access to costar. Buy them a fifth of whiskey if you need to buy them a gift, the gift card to get access to Costar so that you can get lists of motivated sellers, lists of mobile, home park and multifamily operators so that you can then reach out direct mail cold call those owners to get more motivated seller leads operating in that mom-and-pop space that twenty-five-to-seventy-five-unit space. If you enjoyed this episode of Accelerated Real Estate Investor with Colby Bowers, don’t forget to leave us a five-star rating and review in iTunes. And also again, don’t forget to subscribe so you never miss another episode.
You were just listening to the Accelerated Investor podcast with Josh Cantwell. If you enjoyed this episode and learned something new, help us build the A.I. community by leaving a review and five-star rating on our iTunes podcast channel. Also, don’t forget to subscribe so you never miss another episode. To see passive investing opportunities, visit FreelandVentures.com/passive. To start your journey toward the lifestyle you’ve always dreamed of with multifamily apartments, apply for one-on-one coaching with Josh at www.JoshCantwellCoaching.com.
Colby Bowers has completed the full pivot from residential investment into the commercial and multifamily space in the last twenty-four months, and he has 635 units apartments and mobile home parks. But what really sets Colby’s company Veteran Pride Investment Group apart is their “just cause”. Colby and his company donate 20% of their profits into The Paper Crane Foundation for anyone who’s suffered a traumatic brain injury.
For a lot of investors, when you ask them what their biggest mistake in real estate is, they answer something like, “I wish I’d made the move to multifamily sooner”. Colby, on the other hand, has been driven by creating more profit so that he can help more first responders, veterans, athletes, or anyone else who’s suffered from a concussive brain injury. As a 23-year veteran with multiple injuries and concussions, Colby has firsthand experience with how difficult it can be to diagnose and treat brain injuries.
If you catch brain injuries early enough, you can retrain the brain and give the survivor hope for a productive life. In the beginning of his philanthropy, Colby was giving straight back to veterans and first responders, but it just wasn’t growing fast enough. And he wanted to do more.
Having a “just cause” behind your business helps you have an infinite long game because your profits aren’t just for you or your family. The Paper Crane Foundation is literally going to make a positive difference in the lives of those who serve our country. Plus, Colby’s found that talking about his true purpose with every broker, lender, seller, and investor helps him find more deals and raise more money. Sellers feel good about partnering with you for a win-win situation.
I loved this conversation today and I love Colby’s mission. If you’re fired up about helping veterans and first responders with real estate, reach out to Veteran Pride Investment Group.
- Colby’s favorite off-market strategy for finding multifamily apartments and mobile home parks without using a broker.
- Sellers love Colby’s why. It’s a powerful mission that helps him grow in his business, but also makes it easier for him to help more people.
- No matter what anyone says, there’s always a way to get to yes and you’ve just got to figure it out.