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Welcome to the StoryFinance podcast, where we’ll help you gain financial literacy by breaking down finance concepts and strategies through stories, not theory or accounting rules. Tune in and learn from experts who’ve been in your shoes. Numbers can be tricky. This podcast will help.
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Wednesday Mar 29, 2023
Wednesday Mar 29, 2023
Hello everyone and welcome back to the Farming for Passive Income show where we strive to educate the agricultural community on how to create alternative income streams and diversification through commercial real estate private equity.
Today's guest is Senate Eskridge, an expert real estate investor who currently owns a managed portfolio of single and multi-family homes numbering over 500 units across the country. He has over 10 years of experience in real estate investing and more than 20 years of experience in business development, management, and sales. Senate is a multi-family coach that teaches students how to purchase multi-family properties. He hosts a real estate investors group in his hometown, bringing investors together to network and learn from each other. Driven by self-development, Senate has completed numerous courses, including Dale Carnegie leadership training.
1:56 - Senate’s story (from one mistake to falling in love with a cash flow)
3:23 - The shift to Multifamily“I sat down and looked at my income and what I was producing, and I figured out how long it would take me to get the kind of income I needed to generate in the single-family space.”
6:00 - Difference between Active and Passive investors
6:57 - Limited partner
7:45 Passive losses / Cost Segregation
11:00 Difference of Depreciation to Cost Segregation Study
14:10 Cons of Single-Family
16:55 Forcing appreciation (multifamily VS Single Family)
19:50 Tenant’s perspective
20:50 “If you can increase the customer experience, the customer being the tenants, you can actually at the same time improve the property.”
21:41 "I'm improving the community that this asset is in. I can now take somewhere people are ashamed to live and turn it into a home in which they can be proud. [Also,] I can provide excellent returns for ... passive investors, and because I'm doing good things for people, I get rewarded" - The win-win situation
22:32 How Senate helps people and his market
23:58 His Jake & Gino coaching program
25:21 Get EDUCATED!
Connect with Senate:
Website - senateeskridge.com
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