Raising a Million Dollars in Under One Month with Frank Scappaticci
Frank Scappaticci – a former financial services consultant, Army Officer, and West Point graduate turned real estate investor and entrepreneur. After over a year of hesitation, he finally decided to make real estate his full-time profession while partnering with Grayline Investments. Since that time, he and his partners at Grayline have turbocharged a home buying system that is closing on up to 30 deals a month and is primarily focused around towns with military bases.
We talk about why he and his team have decided to focus on towns with military bases, how they are marketing to up to 200,000 potential sellers per month, the various ways they are acquiring those properties, the various exit strategies they are using to sell them, and the training he and his team took that he says has led them to scale so quickly
Key Lessons Learned. Tell everyone you know what you are doing and what you are looking for. For example: “I’m a self-storage investor. We buy existing self-storage facilities and vacant buildings that could be converted to self-storage in the Sunbelt. We buy these assets with cash, and some with loans, and we use private lenders who become equity partners in our deals. They share in the cash flow and the profits when we sell. When we find a deal that we are considering, we call them and offer them a share of the ownership secured by the property. Our partners love this because the returns are generally higher than the stock market, and less risky because they actually own a percentage of an asset that they can see, and touch, unlike anything they buy on Wall Street.”
How did they acquire their knowledge or what knowledge did they need to acquire? Frank had to learn sales. If you are an entrepreneur, you are almost always going to be selling in some form or another. Sales is often described as leading a buyer to find what it is they already want.
How much money did it take to get started? He put down about $20,000 to purchase a single-family rental in Killeen, TX for $91,000.
How much time does it take now? This is a full-time job for him now. He is a full-time real estate investor.
Could they do this strategy from anywhere in the world? Yes, he lives in New York but invests in Texas, Tennessee, and North Carolina.
If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests.