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Replacing W2 income w/ private investments w/ Ian Milligan-Pate, VP of Sales @ Zscaler
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Welcome to The Legacy Wealth Podcast where we help accredited business owners become educated & get access to, private investments that the wealthiest investors in the world utilize to grow their net worth. We do this by providing insight & access to successful fund managers & investors across multiple asset classes.
I’m your host, Pascal Wagner, and today we are interviewing Ian Milligan-Pate, VP of Sales @ Zscaler, and we'll diving into:
- How to evaluate the track record of operators
- How to balance risk and return in real estate investing
- And how to create a portfolio that generates horizontal income
Links from this episode:
- If you're looking for highly vetted opportunities to invest in, get access to our deal database of alternative investments & join our investor club at www.getfundbase.com.
- Watch the show on YouTube here: https://youtu.be/JjjHHFBCIVs
About Ian Milligan-Pate:
Ian is a husband and father of two, based in Denver, Colorado. He has spent the last 18 years building his career in the software and SaaS industries. He is currently a Vice President of Sales for a publicly traded cybersecurity company. He's been investing in real estate since 2013 and has been investing passively in real estate and other alternative asset classes as an LP since 2020. He's invested in more than 30 LP positions and focuses primarily on income generating investments that produce long term cash flow.
Links from our Guest:
- https://www.linkedin.com/in/ian-milligan/
- https://www.linkedin.com/company/zscaler/
- https://www.facebook.com/Zscaler
- https://twitter.com/zscaler
- https://www.youtube.com/user/ZscalerMarketing
- https://www.zscaler.com/company/contact
Time Stamp:
00:00 - Intro
02:00 - Ian's background
03:30 - Ian discusses buying his first rental property and exploring different investment options
04:30 - Challenges faced in acquiring a mobile home park and the realization of the operational intensity involved.
05:11 - Ian's experience with passive investments and the shift towards LP investing.
06:45 - The appeal of passive investing and its potential for generating mailbox money
08:14 - Ian shares a challenging incident with a burst pipe in one of his properties
10:20 - Ian's recognition that being an operator does not align with his goals.
11:00 - Ian's preference for income-generating investments
12:19 - Ian expresses his preference for income-based strategies over accumulation-based ones like 401(k)s.
13:30 - Ian decides to focus on building a portfolio that generates income and provides control
14:30 - Ian reveals that the majority of his net worth is in private investments, particularly passive LP positions
15:11 - Ian's preferences for private investments over dividend stocks or REITs
16:00 - Ian highlights the cash flow stability and predictability of real estate investments.
17:28 - Ian talks about the importance of diversification and avoiding concentration risk.
18:00 - Ian discusses the balance between wealth building and wealth preservation
19:30 - The importance of staying within your expertise
21:15 - Deals with floating rate loans and the impact of rising interest rates on cash flow
22:00 - The impact of higher interest rates on cash flow and the rising cost of rate caps
23:20 - Ian discusses the demand and cash flow potential in the mobile home park sector.
24:01 - Interest rates doubling in a year was an unexpected miss
25:00 - High demand for property acquisitions and capital on the sidelines
26:00 - Ian's procs for evaluating deals
27:09 - Looking for operators with experience in past down cycles
28:00 - Seeking referrals and talking to other investors who have invested with the operator
28:57 - Polaris as a private REIT offering loans in the industrial cannabis space.
30:51 - Ian expects compression on the rate of return over time as more lenders enter the space.
31:10 - Ian highlights the historical returns of Polaris
32:21 - The increasing demand for affordable housing and how mobile home parks serve as a last resort for such housing
33:00 - The efficiency of mobile home park operations, where tenants own their homes and are responsible for maintenance cost
34:30 - The strategy of aggregating mobile home parks and transforming them into REITs.
35:06 - Outro
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