The Value of a Back-Up Plan – eXp Commercial with Kevin Breckenridge
Kevin Breckenridge is a Commercial Real Estate Broker and Real Estate Investor with over 11 years of experience in the real estate industry, encompassing several asset classes on both the residential and commercial sides.
He is the Founder and CEO of Three 17 Capital, a private equity business focusing in the acquisition and ownership of commercial multifamily buildings, as well as an Associate Broker with eXp Commercial.
Kevin regularly talks, teaches, trains, and mentors others to help them develop, grow, and protect wealth through multifamily real estate investing. He is the Founder of The Multifamily Investors Collective, an online network for multifamily real estate investors.
Kevin lives in the Washington, D.C. area with his wife Albany, their one-year-old daughter Amelia and their Teacup Yorkie Bentley.
Watch the episode here:
The Value of a Back-Up Plan – eXp Commercial with Kevin Breckenridge
Brett:
In today’s episode, I want to start out with the value of a backup plan. I remember before the cell phones, do you remember when you didn’t have a cell phone that had GPS, and you were flying into a new city? Do you want to be able to map out that city? I’m speaking for the millennials here. I mean, our parents had the maps and we went on those long road trips. But us growing up, we’re used to our GPS little systems. You’re flying to that new city, and you think you know where you’re going, but you’re not quite sure. rental car places offer a GPS system to add a little mini-guide to your dashboard. It’s an extra five bucks or 10 bucks, or whatever it is. you see that the value of having a backup plan in case I don’t know how to get there is very important. In fact, it could change whether I get there or not. If I get there on time. Maybe that date you went on. You’re dating a girl, and you’re all set up, you got everything going and you prepare for this date, and you have that movie picked out. It’s that new movie that just came out. All of a sudden you said you know what, I think it would be good if we get on time. But if we’re late, I might need a backup plan in case that movie sold out, you show up, I’ve done that. obviously, you’re like, you’re sold out, and you’re going to deliver and you had everything lined up with it with the dinner and the time and everything you’re all prepared, you’re all excited. But if you don’t have that backup plan to pivot which maybe goes to another restaurant and then catch the movie later, or drive across town to the other movie theater that had it I know had a couple of movie theaters in my town, one was like a mile and a half away. it was so nice to be able to all of a sudden call in those days, you would also call right because you don’t have a cell phone that had all of its movie times in real-time. But she would call and they’d say, we have a movie playing at this time. So that was a valuable backup plan, making sure that you’re prepared. The last one is like the dog sitter, if you’re going to travel, you’re going to make sure you’ve got someone to watch the dog right because otherwise you’re not going to travel and you have that person but you might want to have a backup plan for that second person to watch the dog and the all of these things are very important. I want to apply that to your commercial brokerage. How your buying and selling deals are helping your clients do 1031 exchanges, and also how the eXp commercial model can help you have that backup plan. I’m excited with my co-host today, Mr. Kevin Breckenridge. He’s one of my business partners at eXp commercial. Kevin, how are you doing?
Kevin:
We’re doing good, Brett. I couldn’t help but think about some of the times I didn’t have a backup plan. I know we were talking earlier about different times where we had one. As you were talking, I was just thinking about the times when I did not have a backup plan. I tell you a backup plan is is extremely critical.
Brett:
You’re scrambling, you’re sweating, you’re trying to think on your feet, especially on that official first date. I remember it vividly, it was all smooth and everything was going well. I think I was 16. I just barely got my license. I was in my cousin’s car and I had like a window about four hours where he gave me the car and I’m going on this date. I’m going to be the guy who delivers and is everything smooth and consistent. Then you start to sweat. anything come to mind for you like that.
Listen to the Full Episode Here:
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