"Ups & Downs to Section 8 Wealth with Sakar Kawle"
Episode 66: "Bad Beats"
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Sakar Kawle joins asset protection attorney Scott Smith to bus some of the myths behind Section 8 ventures and debunk the misinformation surrounding this type of investing Sakar dives deep into why he believes the Section 8 real estate business model is a great one to get into.
Check out the latest episode of the Real Estate Nerds Podcast to hear Sakar break down the steps he took to turn his Section 8 real estate deals into a pattern of success.
Listen now, and learn how you can too.
“Gone are the days where you chase the deals. This type of chasing helps you wind up in a bad deal and neighborhood.” – Sakar Kawle
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Sakar Kawle came with no money to US in 1997. He is a graduate of Industrial-Automation Engineering from Clemson University. He is SAP-ABAP Certified, SUN Certified J2EE Architect and a Web Security expert and has worked in High-Tech IT Industry for many years.
Over the years, he has done land acquisition/sub-division projects to stabilizing distressed real estate assets; and performed a variety of other projects which allows him to bring diverse perspectives to each opportunity. Currently, he owns well over 200 apartments, townhouses, and SFRs with a cumulative asset value of over 40mil and has partnership stake in larger multi-family projects.
He has done well over a few thousand value-add renovation projects over 20yrs now, that allow him to readily apply his experiences to multi-family projects as well. All properties within their portfolio are managed by their own property management company; which allows their company to perform top-quality work, control costs and maintain a high customer satisfaction for resident-tenants. Sakar scaled his business methodically and has done thousands of high-quality renovations and value-add projects over time. They own and manage their entire portfolio using their inhouse internal property management company, keeping occupancies up at a record high levels.
He hosts a podcast for entrepreneurs, investors and aspiring young professionals looking to grow their vision and adopt best practices. Each week Sakar Kawle interviews esteemed experts, industry leaders and entrepreneurs in the real estate field sharing their experiences, best practices about how to grow wealth, achieve financial freedom and scale businesses.
[:30 ] Sakar Kawle introduction.
[1:03] Sakar owns well over 200 rentals worth 40mil and has controlling interest in 100mil worth of multifamily assets. With sheer grit and determination, Sakar scaled his business methodically and has done thousands of high-quality renovations and value-add projects over time.
[2:22] Sakar talks about his early beginnings as an immigrant to the United States and explains his path into real estate when he didn’t even know the meaning of drywall. The building materials in the United States differ significantly from his homeland of India. He went through a lot of learning lessons along the way and learning by fire. Education is the biggest component people must conquer. There is always a next level. It’s been a great journey.
[4:08] He tells us a bad deal story where a subcontractor stole $1500 and his materials were never to be found. The lesson he learned from that was you get what you pay for and even though he was very cautious about money, he knew he had to spend money and do an extreme quality job on renovations to get the most in return. This makes tenants happy and helps with compliance. Always maintain high quality and that keeps you in good state.
[6:58] Sakar busts some of the myths behind Section 8 ventures and explains some of the misinformation out there. There is a perception that the Section 8 is full of red tape Sakae explains that it is not the case. Once you have a vouchered tenant your income is basically guaranteed. He thinks the Section 8 model is a great one.
[9:52] Some of the challenges of Section 8 are getting through the inspections. It is a time suck. With Section 8 the amount of time it takes to get the tenant into the property is the initial hurdle. There is a formal process with the Housing Authority and that takes time. Occasionally you have a tenant takes advantage of the program, but most times you can go wrong with the program.
[11:42] Sakar explains how he shares his experiences and helps young investors learn about the program. Gone are the days where you chase the deals. This type of chasing helps you wind up in a bad deal and neighborhood.
[13:53] Sakar talks about Premium Cashflow, a podcast for entrepreneurs, investors and aspiring young professionals looking to grow their vision and adopt best practices. Each week Sakar Kawle interviews esteemed experts, industry leaders and entrepreneurs in the real estate field sharing their experiences, best practices about how to grow wealth, achieve financial freedom and scale businesses.
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