Internal Rate of Return Podcast
In the Internal Rate of Return Podcast, Amanda Alexander interviews successful investors to uncover how they get started, the resources and insights they leveraged to propel them forward, and how they keep sustainable investments that enable their "return to self" where they ultimately get to design the lifestyle of their dreams or even pursue passion projects that only abundance can afford. Get inspired and learn from their experiences as they impart invaluable wisdom that may help you along your journey!
Internal Rate of Return Podcast
Ep 15. Outdoor Hospitality: Investing in RV Parks with Robert Preston
In this episode, Amanda interviews Robert Preston, the co-founder and CEO of Climb Capital and Unhitched, who has navigated various real estate ventures from flipping homes to managing RV parks. The discussion covers the risks of being an employee versus a business owner, highlighting Robert's journey from humble beginnings as a farm kid to a real estate mogul. Beyond real estate, Robert shares his experiences as a Marine Corps pilot and the values he instills in his family. The conversation delves into syndication, investor relations, and the intricacies of managing properties like RV parks, emphasizing the importance of a strong entrepreneurial spirit, transparent communication with investors, and balancing personal life with business pursuits.
00:00 The Risk of Being an Employee vs. a Business Owner
00:35 Introducing Robert Preston: CEO of Climb Capital
01:02 Robert's Background and Personal Life
01:34 Gratitude and Weather Talk
02:39 Diving into Robert's Real Estate Portfolio
04:50 Operational Strategies for RV Parks
08:17 Hiring the Right People for RV Park Management
11:14 Robert's Upbringing and Early Money Lessons
15:42 Transitioning to Real Estate Investing
22:13 First Multifamily Purchase and Syndication
27:35 Brainstorming and Creating a Contact List
28:29 Overcoming Fear and Enhancing Creativity
29:17 Effective Pitching Strategies
31:20 Transitioning Professional Identity
32:52 Understanding Investor Personalities
40:02 Vetting Partners and Red Flags
41:49 Lessons Learned from Full Cycle Deals
45:52 Combining Business with Lifestyle
49:57 Teaching Financial Literacy to Kids
53:06 Final Advice and Encouragement