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TIMESTAMPS:
0:00 - Episode Introduction & Guest Welcome
10:40 - Derek's Background & Journey into Property Management
13:04 - Why Property Management Over Traditional Real Estate
15:17 - Building Property Management Business from Scratch
18:28 - Working with Underserved Communities & Housing Solutions
20:14 - Mobile Home Park Management Strategies
24:07 - The Power of Stable Housing & Case Management
26:01 - Security Deposit Alternatives & Innovative Solutions
29:27 - Quick Question Round Begins
32:19 - Best Metro Areas for Real Estate Investment
35:39 - Contact Information & Final Thoughts
PROPERTY MANAGEMENT STRATEGIES FOR REAL ESTATE INVESTORS 🏘️
In this powerful episode of The Real Estate Investing Club podcast, host Gabe Petersen sits down with Derek Morton from Net Gain Property Management Services in Utah. Derek shares his incredible journey from title company marketing to building a 650-unit property management portfolio serving 150 property owners across Utah. This conversation dives deep into property management best practices, working with underserved communities, and innovative solutions that benefit both investors and tenants.
UNDERSERVED COMMUNITIES & HOUSING SOLUTIONS 🤝
Derek reveals how his company specializes in housing solutions for underserved communities, including people transitioning from homelessness and domestic violence situations. He explains the powerful impact of stable housing on addiction recovery, mental health, and family relationships. The discussion covers how case management services expand property management capabilities at no additional cost to owners while providing crucial support to tenants who need it most.
MOBILE HOME PARK MANAGEMENT INSIGHTS 🏠
Both Derek and Gabe share valuable insights about mobile home park management, a niche that many property management companies avoid. Derek explains why mobile home parks can be profitable and discusses the unique community aspects that make them attractive investments. The conversation reveals why finding property managers willing to handle mobile home parks is challenging and how Derek's company successfully manages these properties.
INNOVATIVE DEPOSIT ALTERNATIVES 💰
Derek introduces game-changing security deposit alternatives that benefit both property owners and tenants. He details two specific programs: Obligo, which allows tenants to pay 10-15% of the deposit amount annually instead of the full upfront cost, and Lease Guard, an insurance product where tenants pay monthly premiums for deposit protection. These solutions help tenants access housing while providing equal or better protection for property owners.
SCALING PROPERTY MANAGEMENT BUSINESS 📊
The episode covers practical strategies for growing a property management business, including the importance of patience, selecting the right property owners as clients, and building referral networks.
REAL ESTATE MARKET OPPORTUNITIES 🌟
Derek discusses current opportunities in Utah's real estate markets, particularly in Salt Lake City and Provo areas. The conversation touches on recession-proof investment strategies, including properties that can function as single-family homes, duplexes, or student housing depending on market conditions. Both hosts share insights abo

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FROM CALL CENTERS TO CASH FLOW

In this eye-opening episode of The Real Estate Investing Club, I sit down with Dave Codrea, co-founder of Greenleaf Capital Partners, who reveals an innovative investment strategy that perfectly captures today's changing commercial landscape: repurposing vacant call centers into thriving multi-tenant business spaces. 🏙️

THE AI REVOLUTION CREATING REAL ESTATE OPPORTUNITIES

The rise of artificial intelligence and remote work has left thousands of call centers sitting vacant across the country. As Dave explains, "Most of that started when COVID hit. Everyone's working from home now... and with AI's impact, that tenant base is kind of gone." While most investors overlook these "cube farms," Dave recognized a massive opportunity hiding in plain sight. 🤖

WHAT MAKES CALL CENTERS PERFECT FOR REPURPOSING

These properties have several key advantages that make them ideal candidates for transformation:

• Large footprints (typically 50,000-100,000 square feet)
• Abundant parking (designed for hundreds of employees)
• Robust power infrastructure (often including backup generators)
• Prime suburban locations near residential areas
• Low acquisition costs (as low as $40-60 per square foot)

Dave's strategy is brilliantly simple yet effective - divide these massive spaces into 5,000-10,000 square foot suites that appeal to a wide range of businesses. "We're putting in glass roll-up doors, raising the ceilings, and creating spaces that smaller businesses can actually use," Dave shares.

THE TENANT MIX AND ECONOMICS

The diverse tenant mix in these repurposed facilities includes medical services like Labcorp, pest control companies, personal trainers, pharmacies, and even video game simulation companies. By acquiring these properties for $40-100 per square foot and investing another $30-40 per square foot in renovations, Dave creates assets that generate solid cash flow with mid-teens returns.

FINDING THESE HIDDEN GEMS

Unlike many real estate investors who rely heavily on brokers or direct mail, Dave prefers a more hands-on approach: "I love driving around. I drive a big Sprinter van every day, and I'm always looking at stuff." This old-school method of physically exploring potential opportunities has helped him identify properties that others miss.

WISDOM FROM YEARS OF EXPERIENCE

Throughout our conversation, Dave shares valuable insights from his extensive real estate career spanning multiple asset classes from mobile home parks to medical buildings. His advice to focus on properties in your local market resonated deeply: "Invest in your town and do a good job there. Help make it a better place. I don't think the grass is greener on the other side."

Whether you're a seasoned investor looking for creative opportunities in today's changing market or just starting your real estate journey, Dave's innovative approach to repurposing commercial space offers valuable lessons on finding opportunity where others see obsolescence.

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THE ANTI-MULTIFAMILY STRATEGY: WHY INDUSTRIAL IS KING 👑
In this eye-opening episode of The Real Estate Investing Club, I sit down with Irwin Boris, CPA and real estate veteran who cracked the code on boring-but-profitable industrial investing. After dealing with underground water line disasters and insurance cost tripling in multifamily, Irwin pivoted to an asset class that compounds revenue at 3% annually while protecting against maintenance nightmares.

INSIDER SECRETS: HOW TO SCORE 8-9% CAP RATES TODAY 💰
While everyone chases multifamily, Irwin reveals how he's finding industrial deals with 8-9% cap rates in secondary markets. His strategy? Look for buildings under $100 per square foot when replacement cost runs $150-200 PSF. Target properties with 8-15 tenants to ensure cash flow continues even during turnover. The key insight: "Make your money on the buy" by being patient and letting deals chase you.

THE WORKFORCE STICKINESS ADVANTAGE 🏗️
One fascinating strategy Irwin shares involves single-tenant deals tied to local workforce. Example: A 500-employee facility running three shifts daily can't move more than a few miles without losing staff. This creates incredible lease security that justifies paying slightly below market rent in exchange for workforce retention.

SMALL BAY SECRETS: WHERE TO FIND THESE GEMS 🔍
Small bay properties remain hidden in plain sight across America. Look for buildings with multiple roll-up doors housing plumbers, electricians, and even unique tenants like tropical fish farms and nuclear pharmacies. These properties offer higher returns than traditional office while requiring less intensive management than multifamily.

MARKET TIMING STRATEGY: BUY DURING UNCERTAINTY 📊
With major players like Blackstone and Clarion Partners signaling now as prime buying time amid tariff uncertainty, Irwin explains why the next 2-4 years offer exceptional opportunities. While new development slows and financing tightens, buyers with cash can capitalize on motivated sellers and reduced competition.

THE CPA ADVANTAGE IN REAL ESTATE 📚
Irwin credits his accounting background for deal-making success, sharing how he educated bank underwriters on reading tax returns properly. Understanding depreciation, reading financial statements, and properly vetting tenant financials gives him significant edge in deal analysis and negotiation.

FROM CPA TO OPERATOR: TOUCHING EVERY ASSET CLASS 💼
After starting in accounting, Irwin gained invaluable experience working 15+ years as a lender and for real estate operators across multifamily, office, retail, hotel, and industrial sectors. This comprehensive understanding allows him to spot value others miss and structure deals properly from day one.

REAL ESTATE IS RELATIONSHIPS: THE INVESTOR PARTNER MODEL 🤝
Breaking industry norms, Irwin personally handles investor relations, comparing college choices with investors' kids and discussing vacations. This relationship-first approach creates loyal partnerships and repeat investors who trust his expertise. His philosophy: "I like to cultivate long-term friendships with our investors - we treat them as partners."

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