Oct 4, 2017
Juan Esteban Viteri is not your typical real estate investor. Like many of my guests, he buys and renovates properties and earns money from them, but what sets him apart is his primary customers: Homeless Veterans. Juan’s main business is what we call “Transitional Homes,” a type of real estate business that serves to fight the homeless problem in our society while also making decent pocket money.
When Juan started in real estate, it was as a way to make money, but now he realizes his purpose in life is to shelter the homeless. Juan has a group called “Giving Space,” which provides comfortable homes for our homeless veterans in Long Beach, California. His properties cover the gap between shelter and permanent housing and he currently has four big properties.
Today, Juan tells us all about his charitable business and how his business is similar and different to other types of real estate businesses. He also shares his interesting life story and why he knows what it feels like to be homeless.
“When you get a property, you don't know what you're getting into.'” – Juan Esteban Viteri
On Today’s Episode of Flip Talk:
- Challenges of identifying the right properties for his type of business.
- Why you should always have reserve money when acquiring property.
- Why is he doing this for veterans?
- The type of property he considers for transitional homes.
- Permits and licensing needed to work in the transitional homes space.
- Staffing requirements inside the homes.
- The payment structured in this kind of business.
- Mitigating risks of tenants not paying?
Juan’s Tips for Getting into Real Estate Investing:
- Have a vision and passion, but take action. Mitigate the risks and take action.
- Scarcity brings a lot of greed and when we come from a place of greed we won't be able to help anybody.
Reach Out to Juan Esteban Viteri:
- Email: viteriinc@gmail.com
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