Episode 72: Quitting his job to invest in campgrounds, homeschooling kids and much more!
In today’s show, Pancham interviews Dave and Regina Fabry, expert in campgrounds and investing in campgrounds. They are also the founder of the outdoor hospitality investments Campfire Properties.
Both Dave and Regina were part of the corporate world when they decided to start a new beginning in campground investing. They left their high-paying jobs and sold their primary house to explore new campgrounds and get to do what they love most – travelling.
In today’s show, Dave and Regina will share their adventures on why they decided to started campground investing, how homeschooling has helped their kids and how the right time to invest in campgrounds is now. If you’re having doubts on why you should invest in campgrounds, listen to this episode to guide you! Enjoy!
Tune in to this show and enjoy!
- 2:54 – Pancham welcomes Dave and Regina to the show
- 3:51 – Their background and why they decided to do campground investing
- 6:05 – Their mindset when they decided to do campground investing
- 13:12 – Privileges of homeschooling their children
- 18:14 – What campgrounds is all about
- 22:31 – How they earn profits in campground investing
- 29:34 – Major differences of campground investing from others
- 34:58 – Taking the Leap Round
- 34:58 – The first time they invested outside Wall Street
- 35:59 – Fears they overcame when they first invested outside Wall Street
- 38:16 – One investment that did not go as expected
- 41:48 – One piece of advice they would give to someone who wants to invest in the Main Street
- 42:58 – Their contact information
3 Key Points:
- Understanding the basics of campground investing
- Major benefits on homeschooling their kids
- Differences between campground investing and other property investing
Get in Touch:
- Campfire Properties Email – firstname.lastname@example.org
- Campfire Properties Website – https://campfireproperties.com/
- Pancham Gupta Email – email@example.com
- Download free report on top 6 reasons to invest outside of wall-street: https://thegoldcollarinvestor.com/download/
- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki – https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194
Welcome to The Gold Collar Investor Podcast with your host, Pancham Gupta. This podcast is dedicated to helping high-paid professionals to break out of Wall Street investments and create multiple income streams. Here is your host, Pancham Gupta.
Hi, this is Joe Fairless. If you wanna diversify out of Wall Street investments, then listen to The Gold Collar Investor Podcast.
Hey, this is Mauricio Rauld, founder and CEO of Premier Law Group and if you are serious about investing in real estate, listen to The Gold Collar Investor podcast with Pancham Gupta.
Pancham: Welcome to The Gold Collar Investor podcast. This is your host, Pancham. I really
appreciate you for tuning in today. Let’s get into today’s show. For the last six months or so, we have
not traveled much. We had a trip planned to Spain but we had to cancel because of COVID-19
situation. Since then I have not traveled either for business or vacation. There are many people in this
situation, a lot of people are not ready to pack their bags and trust to stay in hotels or Airbnbs yet.
But what if you take the hotel room with you? That is right. Taking the hotel room with you. What if
you can rent the RVs and go to different places and then park your RV at a nice camp ground which is
exactly like a hotel but you’re staying in your own room which is the RV. You can clean the RV prior to
departure as per your liking and take a trip. Believe it or not, if you Google you will see RV rentals and
sales have been on the rise. It’s hard to rent an RV as all the places are out of stock. I personally can
attest to this as we have tried to plan an RV trip multiple times and failed to find one for our dates
and we had like four families, separate families wanted to travel together and we couldn’t find four
RVs at one location and not even in our whole state of New York. So, much before COVID though my
friends, Dave and Regina have been a fan of this asset class that is camp grounds, so much so that
Dave left his high paying job to invest in the camp grounds full time. Dave was heading the entire
North American business of European company. If that was not enough, they even sold their primary
house to travel in an RV with their kids who they homeschooled to explore the country and live on
camp grounds. This way they get to check out new camp grounds and then also at the same time get
to do what they love most which is buying and investing in camp grounds. I have the pleasure of
interviewing both Dave and Regina today on this podcast. So, I’m super excited today to bring on my
friends Dave and Regina here who are an expert at camp grounds and investing in camp grounds and
we are going to learn about this amazing asset class. Dave and Regina, welcome to the show.
Dave: Hi, Pancham and thanks for having us here to share our story with your listeners.
Regina: Hi, Pancham. Thank you.
Pancham: Thank you for taking time and coming on. Before we get started, are you ready to fire up
my listeners break out of Wall Street investments?
Dave: Let’s do it.
Pancham: Let’s do it. All right, so Dave, I know that you had a very high paying job and in fact you
were managing all of North America, you know, I want to get into and then you quit your job, so I
wanna get into that story. Before we get into that, can you tell our listeners about your background
and the person behind that background?
Dave: Sure. I went to college for computer science and wasn’t a serious student about that and during
one of the summers my brother broke his ankle playing like softball so I had to help out at a machine
shop that he was working in, so that was my entrance into the manufacturing industry. And from
there over the course of about 25 years I worked in various different roles and ultimately after the
last 15 years…
Dave: About 18, sorry, last 18 years, for the last 18 years of my career I managed the manufacturing
company. It was a manufacture and over the course of that time we grew that business from five
employees and around 5 million dollars in revenue to or actually was 5 employees when I started, it’s
125 employees when I finished and about 15 million dollars in revenue.
Dave: And I left that company last summer and my wife Regina and our two sons hopped into a motor
home and we spent about three and a half to four months traveling the western US.
Pancham: Wow. That’s great. And how about you Regina, what’s your background?
Regina: Well professionally I was involved in sales and marketing and when we had children, I stayed
home with the boys and as life happened there were challenges that we faced and so out of necessity
I became a homeschool parent and that started our journey then homeschooling now for—we’re on
our 10 th year.
Pancham: Wow. We wanna get into that actually, you know, I was completely fascinated by the fact
that you’ve been homeschooling your kids for a very long time. Now, given that we are in the middle
pandemic, I’ve heard many people start to talk about this and it was not even a topic of discussion
before and we wanna get into that story. So, before we do that so Dave like going back to, you know,
you had built this company from five people to 125 people, from a 5-million dollar revenue to like 50-
million dollar revenue when you left for 18 years and you’re living in a motor home and you know,
you’re investing in camp grounds and searching and hunting for camp grounds while you’re living in
one of them like as you’re traveling, how has that transitioned then? It has been over a year now I
believe is that right?
Dave: Yeah. So, it was last July, so it’s been a year and a month.
Pancham: Year and a month and a lot has happened since then. We have had COVID-19 situation.
Pancham: So, tell our listeners about the mindset that you had to go through to number one, quit
your job and second, how it has been since you’ve quit.
Dave: Sure. So, I’ll kinda step back a little bit and then kinda set the stage for why we decided to do
that and as a lot of your listeners have probably experienced back in ‘08 and ‘09 looking at our 401(k)
balance just, you know, falling off a cliff and not knowing what the future held, it’s pretty scary time
of, you know, back then I figured there had to be something in it, there had to be something better,
something that was more—something that I could control better for our family and for our future and
so Regina gave me the little purple book the, you know, Rich Dad Poor Dad. I read that and I was all
in. I was okay, real estate, yeah, let’s do that.
Pancham: What year was that? Do you remember?
Dave: 2011 maybe, I think it was maybe around 2011, yeah, because I think that’s when I first
started—we live around at a bunch of different asset classes, you know, single family homes and if I’m
gonna make the numbers work to do like an income replacement, right? We talked about me leaving
the position, you know, I said okay what happens if I lose my job? I don’t have anything else, you
know, beyond that. I’m trying to think about an income replacement, you know, it would take a whole
lot of single family homes to do that. So, we started looking at other asset classes, self-storage, car
washes, multifamily, I know that you’re highly involved in multifamily and one of the things that we
really love to do is to travel and to go stay at camp grounds, be with nature. We firmly believe in the
health aspects of being in nature and so we thought, well, okay, can this work as an investment? You
know, we started looking at, you know, privately owned camp grounds that are out there and most of
those are job for the people that own them but did you tell me…
Regina: I told him he wasn’t trying to get a job.
Dave: So you know, that was the, okay, can we do it? Can we invest, you know, more or less
passively? So, in 2014 we bought our first camp ground while I was still working and you know, one of
the challenges there is as you know, Pancham was to try and build a second form of income or build a
business while you’re working full time, it’s a bit of a challenge but we got the right management
team, we built a property manager team, they work at the camp ground the first couple of years and
learn the business so that we could apply those knowledge to expanding that—expanding our
portfolio for camp grounds.
Pancham: Got it. What year you started investing in camp grounds?
Dave: It was 2014.
Pancham: 2014 and it was until 2019 you had not quit, right? So, five years from that point on when
you ultimately quit. So, was it hard for you? What was the mindset behind like what—did you have to
get external help to, you know, it’s very hard to get rid of this stable income that especially not high
paying income and you’re at a very high level position, right? How was it to get away from that to
actually going full time, the decision making process?
Dave: Right. Well, you know, I looked at, you know, from a number of standpoints, you know, how
was it gonna impact our family, right? We anticipated and we knew that we were going to have a
drop in income, you know, what I was making. I built this, you know, this business for somebody else
for 20 years, how was my leaving going to impact, you know, that business, those employees so I
wanted to make sure that transition was going to be I won’t say easy but easier for the right things in
place, for the right people in place and then you know, taking that leap and you know, it was to be
honest it was supposed to happen what 2016, 2017 I mean there was a bit of hanging on there but
what I realized is that if I didn’t, you know, I would still be stuck building that business for somebody
else rather than building a business for us and our family.
Pancham: Great point there. And Regina like I’m sure you guys are talking all this time, what was your
mindset all this time, you know, you were thinking or there was thinking of getting out of the
Regina: What I will say in the beginning I was much more excited and like he said it was to leave a bit
longer than we thought so I was really excited at first I believe that when you do the one thing or you
focus you’re gonna have more success. We weren’t able to acquire and move as quickly as we would
have liked and so that, you know, that’s part of why he needed to go ahead and move on out of the
job because in order to scale and get where our plans have been we needed time to focus. We have
our management team in place, but we are really the ones who break apart the financial parts of it I
guess, you know, Dave as I call him my spreadsheet geek.
Dave: I like the numbers.
Regina: He’s always in the spreadsheet to the point my eyes bleeds over sometimes, but we really
needed, you know, some more time and energy and to be fair to both businesses and like Dave said
he was very, very contentious about the company he was working for and so again the day-to-day our
management team and that we built around it is fantastic but if we wanted to grow this and get to a
point where we are replacing his income it made less sense for him to stay there and hold on than to
just let go and take off.
Pancham: Letting go is very, very hard and I can speak from my personal experience. I actually had to
hire external help to do it and kudos to you and Regina to be able to do it by yourself and not needing
external help, so that’s great. So now, you know, Regina you mentioned in the very beginning that
you’ve been homeschooling your kids for a long time and you had to quit your professional career and
taking care of your kids, tell us about that journey, how that has been and how has that transpired
and what would you say that, you know, if you were to do this all over again, would you do it the
Regina: So, you know, I think I came to homeschooling out of necessity it wasn’t really a choice, that
wasn’t intentional. I didn’t start out saying I’m a homeschool mom and this is how we are going. It
was out of necessity to manage one of our children’s health concerns, brought the kids home and I
loved certain aspects of it for instance really following the child. If you have somebody who is
struggling in an area, you have time and the energy to focus there and help bring them up and not be
caught in a grade level if you will. If your children excel and love our children excel to science and
math, you know, you can work one to two grade levels ahead, you could work fast and that has been
a benefit too. As we homeschool, you know, I found that it allowed us to travel when other people
weren’t traveling and allowed us to school throughout the year which for me is a bonus if you take,
you know, many shorter breaks versus 3-month pause in the summer where you actually lose the
momentum that you’ve built.
Pancham: Right. And how old are your kids now?
Regina: They are now 15 and 18, so we have one that graduated high school, woo-hoo!
Pancham: Yey! So, how did they take it like, you know, in terms of getting homeschooled and when it
comes to whether it’s interacting socially and being with the kids in the school and all that like how is
that when you’re homeschooling?
Regina: So, my oldest was in 4 th grade and so he came home for 5 th grade and my youngest was in
kindergarten, he came home for 1 st . They both handled it differently. I will tell you neither of them
wanted to go back into the school system. I’ve tried to encourage one of them who is much more
social towards that, you know, maybe a hybrid school or something like that at times. They’ve been
very involved in athletics. They were both hockey players so it’s not as if they didn’t have interaction,
it’s not as if we weren’t—there’s tutorials that you participate in or a lot of homeschool participate in
and we took advantage of those as well, so I don’t think from a social standpoint they really struggled
Dave: Yeah. And I think, you know, one of the great benefits that we had and Regina is that being able
to travel with our boys. So, we like to attend to a lot of the conferences and that sort of thing, one of
Real Estate Guys conferences, there’s Summit at Sea. We want to go on that to be around other
people that are doing great, you know, great things so we will bring the boys with us and they would
not necessarily participate in some of the conferences but at the very least they would come down to
dinner and you know, what a great exposure to have, you know, have them around, you know, all
those smart successful people be able to interact with adults in a business environment, business-like
environment and to listen in those conversations I mean so those are some of the things that you
can’t get in a traditional school. You can’t get the exposure to those when we take them on the
Summit at Sea cruise and they love to go to the sessions. They love to listen to Peter Schiff talk I mean
that’s one of the highlights of their trip. It’s understandable that they love listening because it’s
energetic and such an amazing wealth of information.
Pancham: Right. So you know, I think that is one big thing that I actually miss that I really want my
kids to go to these conferences. Now, that we are in the middle of COVID-19, it’s not really happening
that much but I was missing that part that I really want my kids to go but because of the school, they
cannot go and for the listeners who don’t know Summit at Sea is actually a conference which happens
on a cruise ship and it’s put together by real estate guys and a lot of celebrity authorities come there,
talk leaders come there, you know, that’s where me and Dave also hangout together last year. It was
great. So thank you for sharing that and you know, I want to switch gears. There’s a lot there I want to
get in but I want to also talk about camp grounds, your experience and living in a motor home since
you’ve quit. So, let’s talk about camp grounds. For a person who doesn’t know like even myself like I
think RV parks which is recreational vehicles, you know, you rent an RV, you will go to RV park and
you hook up your RV and you have fun for a couple of nights and come home, right?
Pancham: That versus let’s say a camp ground like what’s a difference and what is a camp ground
really, how would you explain it?
Dave: So, if you look at a recreational vehicle, there’s a number of places where you can go to park
that, I mean you can go to a state park and stay there, you can go to a Walmart parking lot and stay
there. You go down by the ocean and you know, as long as it is legal to park there and spent some
time. We invest in privately held, privately owned camp grounds and I guess that you know, there’s
some delineation between an RV park and a camp ground, camp grounds typically will also
incorporate like tents. RV parks are sometimes associated with like workforce housing. So, if you go to
the oil field in Texas or Louisiana where there’s a, you know, high need for short-term workforce
housing, you can build an RV park and that’s the purpose. It’s not necessarily somewhere that
somebody is going to go to for recreation. So, we look for camp grounds that are in beautiful
locations, but we don’t wanna have to provide all the services that, you know, bring people to us. So
we like to be, you know, we have one in Utah. So then Utah, we have one in Southern Colorado that
really beautiful locations that people are going to come to and they would come there regardless if
we have our camp ground there or not.
Pancham: Right. Okay. So, if I were to summarize what you just said real quick, if you have an RV and
you could like you said you can go park anywhere and have fun and one of those places could be a
camp ground where you can go and hook up, but you know, there are RV parks where workforce
housing for the lack of housing in that area or whatever are the reason, they create those parks where
you can go and live on those RVs as your like home for the workforce housing. So those are the parks
which are more of a necessity for workforce housing and then we have camp grounds which are more
on like discretionary spending where people actually go and have fun and you know, like I’m actually
we are recording this end of August and you know, I’m actually going on my very first RV trip to a
camp ground which we are renting the site up in Lake George, New York so that particular camp
ground has everything on it like it has a swimming pool, it has a playground, it has like you name it, it
has all the amenities that you can think of that you would find in a 5-star hotel and it has a lake,
there’s a boating like all those things. So, that is something that you are investing, right? Like that’s a
Pancham: You can go there in a car or in an RV or you can go walking, right?
Pancham: Either way you are actually going there to have fun, do camping and stay. Is that a fair
Dave: Yeah, that’s exactly right. Yeah.
Regina: It’s great.
Dave: And you know I suspect that that camp ground that you are going to is probably similar to, you
know, the type of parks that we own, you know, there’s RV site, there’s tent site, they probably have
Dave: They might have, you know, like what they call glamping tents like a safari tent with beds and
stuff or might have—one of our parks has TVs so I guess you can come and stay in, you know,
something more native to the area.
Pancham: Right. So, yeah, this serve all different kinds of people. People who are going there in a car,
they can potentially stay in a cabin or you know, in a glamping site and all those settings, right?
Pancham: So, yeah, I don’t know whether they have a glamping there, but I definitely know they have
cabins and RVs to rent there where they can stay or you can go to a hook up. Okay, great. So, that’s
awesome. Let’s talk about how do you make money in this business like how, you know, I know
multifamily where you provide something that people really need and it’s one of the basic human
needs for housing and they pay rent and we take care of all the expenses and at the end of the day
whatever is left after paying the mortgage is something that we make as income, right? So how does
it work in the camping site? I’m sure it’s similar but I’m sure there are a lot of nuances to it. So, Regina
you wanna talk about that?
Regina: Basically, we like to refer ourselves as a little bit of a dirt hotel. So, there are plenty of
revenue streams that come in from a camp ground whether it’s an RV site, a cabin or a place where
you could put your tent, you’re gonna have usually a store and like you that should pull some other
activities there but you’re renting by the night. I’ve actually heard people say, you know, it’s like a
door. We have so many spaces and there’s different levels of amenities people will look for, you
know, electricity, water to the site. Do they wanna pull through which makes it really simple
especially for those newbies to come in or favorites to come in and pull out, not having to worry.
Pancham: Yeah, okay. So I guess there are all of these different revenue streams you have like, you
know, which is catering to people who have different needs like a newbie versus someone who has
experience, someone who wants to go fishing versus you know, renting out like the one where we are
going there you can rent out bikes from them and you know that’s another revenue stream. So all of
these revenue streams that you have and then obviously you have expenses, the upkeep of the park
and all that, my thought process is that at least here in New York that during wintertime not many
people go there or maybe they are not even open, I don’t know that for a fact that’s just my
judgement or my thinking so this is very seasonal in nature, right? Typically, what would you say it
depends on the park but what would you say is that you need to get to occupancy level where you
start like breaking even or making money?
Dave: I would think that’s gonna be, you know, park specific and you know, based on a financial
model of the individual camp ground and you know, the finances associated with it, part of it you
know, the hotel model. Hotels don’t live at an occupancy like your multifamily. So now you’ve got 12-
month leases with your tenants. We have nightly leases with our guest. We can really, you know,
adjust the rate based on the time of year in order to make more revenue during the peak season as
opposed to shoulder season and so our occupancy, you know, you asked about occupancy, the
occupancy ranges over, you know, over the course of the season, our big time is between Memorial
Day and Labor Day and there’s, you know, a number of times, you know, even in the age of COVID
this year, where we’ve been fully booked and you know, that’s been encouraging and maybe to touch
on that just a little bit-
Pancham: Yeah, please.
Dave: -COVID has driven a little bit of the urge for people to get outdoors, you know, you’ve been
cooped up in your home for three months and you wanna get out and see nature, actually now five
months and what a great way to do that and to take your home with you, right? So you get into an RV
and you go and you don’t have to, you know, interact, you can, you can interact with your neighbor,
they are 12 to 20 feet away in near site, you know, one of the things that we institute was kind of
touch those registration so you pull up and you can text us or email us or we will have your envelope,
your check-in envelope at the outside area for the registration. So, you don’t have to interact with
anybody if you don’t want to, if people are uncomfortable with that.
Pancham: This is great that you touched upon it and it’s just coincidental that we are going on our
very first camp ground forever like and the reason why we are going—we decided to go on a camp
ground is partly because of COVID situation. We are renting an RV which we are going to get fully
cleaned up, right? We don’t have to go to a hotel where we don’t know what kind of processes they
may have. So, we’re gonna get it clean up and then we’re gonna stay there but now for the lack of like
you said we are taking out home with us, right? We’re gonna take all the stuff that we need for the
kids and for ourselves and go there and the reason for all of this is because of COVID, right? We may
not have done an RV trip if it wasn’t for COVID. So because of that, I feel that this asset class it has
been an amazing opportunity as of, you know, because of the situation and you’re kind of resonating
the same thought, you have been completely full. Is that true? Like people are really, really looking
forward to going and going to camp grounds.
Dave: Yeah. We’ve had a lot of adaptions. So, one of the things that we’ve seen about 40% of our
business is international guest. So, like you, they will rent an RV so typically, you know, for our Utah
property though, clients on the lake or they’re flying to Las Vegas, rent an RV and then they will you
know, go through the big five national Parks of Utah. None of those guest have been able to come
and see us and you know, we are really sad that, you know, because these are once in a lifetime trips
for those guest.
Pancham: Yeah. 40%, that’s a big number.
Dave: It is. But what we’ve seen is the regional people, you know, from California, Washington,
Oregon, you know, around the park that ratio of guest has exploded that’s really taken over the—so
which filled in for the missing internationals. So, while we haven’t been, you know, 100% full and we
are not quite to 2019 numbers are, I’m certainly not disappointed on that. I’m not in the situation like
hotels are in and you know, that’s entirely because my genius are picking this traffic last night.
Pancham: I see now, Regina.
Dave: No, I mean we are just really fortunate and lucky that we are involved in RV parks and camp
grounds for sure.
Pancham: That’s awesome. So, I want to switch gears a little bit like are they building anymore RV
parks like how does an RV park gets created like, you know, for hotels and for multifamily and all this
there’s lot of financing and programs and these things are in place like how does an idea for RV park
come into play and also is there financing available for doing all of this?
Dave: I’ll preface my answer by saying that we like to focus on existing businesses and buy those and
be able to add value to those similar to what you will do in an existing multifamily. On the
development side, I mean it’s typical demand studies will be done to find out okay, you know, well
you might think that, you know, this is good area to develop an RV park or camp ground and you
know, you’ll go out in the marketplace and see what demand is, what’s beyond that demand? It’s
pretty much what you would expect.
Pancham: I see.
Dave: We are building those and then you know, as far as financing, I’m not sure what financing is
available on the development side. I presume that it’s, you know, there’s probably some, you know,
similar commercial financing but we don’t typically get into agency financing, you know, you’ve been
buying an existing. I think agency financing is reserved for housing and we are not housing, we are
Pancham: Housing is mainly like affordable housing or the need which is serving a set sector of people
and really helping them provide housing so in this case you would say it is bank financing?
Dave: Yeah. I mean we work with a local bank that we have a good relationship with. They know and
understand our business. That was one of the challenges is that we had to help them understand the
business and describe what’s the revenue models were and all of that just like you ask I mean they
ask the same questions that you’re asking is okay, well, you know, how do you make money, right?
And so you know, we built that, you know, kind of a partnership with the bank to finance the first one
and through the success we showed, we demonstrated on that first one, you know, they were eager
actually to finance the second one.
Pancham: Got it. So, I have my final question before we move on to the next section of the show and
my final question is Regina like maybe you can answer this, do you have any classification like in
multifamily for instance we have class A building, class B building, class C building, do we have any
classification in camp grounds like this like class A camp ground?
Regina: I don’t know that they actually have classes necessarily. There are different types so you
might consider like there are ones well within the system that we are involved in, they actually
classified them similar to maybe some hotel grants and you know, they’ll say one is a journey basically
that’s one where people who are traveling to a destination and are going to spend the night, that
might be off a highway and that would be considered more of a journey and then you know, then
they might—the next one might be more of a place where you would go and stay and do things in the
area but not necessarily the resort type of deal.
Dave: Like a base camp.
Regina: Like a base camp and then you know, the next level would be more like maybe what you’re
staying at with the fishing lake and activities for children and movie nights and those kinds of things.
So, there are different levels I guess of camp grounds.
Pancham: Yeah. So there’s no like standardized classification so to speak, it’s more like really
fragmented, understood lingo among camp ground loners.
Regina: Yes. Yes.
Dave: Right. And that’s where the opportunity is for those that are experienced and understand what
each type of park offers to the guest if you go to the revenue model around that. I’ve seen things, you
know, like a resort, water slides, go kart tracks, jumping pillows and you know, indoor pools, outdoor
pools, banquet halls I mean it runs the gamut.
Pancham: Got it. Cool. Anything you would like to add before we move on to the next section of our
show which I call Taking the Leap round?
Dave: Those were great questions and I hope that it helps at least to give a flavor to your audience
about what, you know, what RV parks and camp grounds about.
Pancham: Yeah, absolutely. So, we will be back after this message.
If you want to know the top six reasons on why you should consider diversifying outside of the Wall
Street then you are in the right place. I have written a free report for you it goes into not just the top
six reasons why investing in stocks, 401(k)s may not be the sound strategy but also what are the
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Pancham: All right, so let’s move on to the next section of the show which I call Taking the Leap round
and I ask these four questions to every guest on my show. So, Dave and Regina first question for you
guys, when was the first time you invested outside of Wall Street?
Dave: So, when I first started thinking about investing in real estate, I joined at the local real estate
investors club and started going to the meetings in Nashville, Tennessee and then a gentleman that
was doing house flips and so what we did was, you know, I basically I did private lending on that and
just took a jump to cash at a 2 or 3 months turnaround on the homes, I mean the market was so hot it
pre-sold before it even start the construction, so you know, I got my money back with some friends
and you know, I really enjoyed the process. It wasn’t something that I figure out will continue long
term. It was more of an interesting task I guess.
Pancham: Got it. Got it. Okay. That’s great. So, what fears did you have to overcome when you first
invested outside of Wall Street? So, did you have any fears that you have to overcome?
Regina: You know, that one was pretty easy because they basically—the property was paid more—we
Dave: It was really highly secured.
Regina: We were first on that, so it didn’t feel trying it all. That was very nice, you know, I think just
based on the education that we’ve underwent in real estate, the fears of investing actually were
reversed I mean more the fears of what happens if you don’t. What happens if you stay in all in the
stock market because you know, with the ups and downs it really in place of all the things that you
really adapt a loser. So, how can we build something up and you know, part of our process was going
through a program to explore different areas and really look at things. So, I think for me as I became
more and more aware and informed the fear of not doing anything became greater than the fear of
Dave: Taking the leap.
Regina: -yeah, taking the leap.
Pancham: Yeah, I know this part is so true. I actually cannot forget in the purple book somewhere it’s
written and I don’t remember the exact phrase but he says that the level three or Robert Kiyosaki has
levels of investing and he says education is so important that when you’re investing money and you’re
hoping it would go good that’s a game of chance. So, gamblers for them investing is actually he calls
people who are investing and hope that it goes up, it’s called game of chance and he calls them
gamblers and then he says for investors who are investing and for them it’s a game of skill. So, that’s
exactly what you are referring to that, you know, you got educated and that made you feel very
comfortable going and doing these things. So that is great. My third question for you guys is can you
share with us one investment that did not go as expected? Do you have any?
Dave: Oh, yeah. You know, we have a passion to help people and we met a gentleman that we go
through, you know, another business. He was putting together a cryptocurrency and would kinda
fractionalize real estate and you know, that kind of…
Pancham: Tokenize the ownership of real estate.
Dave: Right. Yeah. And you know, with an overwriting coin and then each of the tokens off that coin
would be individual property, so we’re gonna mold—it’s more of a loan than equity play, you know,
because we wanted to have to help that person out and he just wasn’t able to pull it off and you
know, in case of a lot of talk, failed execution. It taught us a couple of things I mean we always know
that you don’t invest what you can’t afford to lose and we went and do it with that mindset but it still
Pancham: Yeah, absolutely. Absolutely. And you do and you learn, right?
Pancham: So, you were saying like you learn a couple of lessons?
Dave: So, the other lesson is to have maybe a better understanding of who you are investing with,
you know, we knew him somewhat and we have some good conversations. We met him, you know,
face to face, you know, at one point in one of our travels, didn’t really know him that well. So you
know, maybe getting to know the person the better is and you know, is there anything you wanna
share on that?
Regina: Well, yeah, I will just say, you know, going deeper on the bio is important and definitely I may
ask for references.
Dave: Yeah. I mean investing is a relationship business and so you know, we had a surface level
relationship but you know, we needed to go a little bit deeper because there were signs there. There
were some little concerns and you know, like a said I mean you know, what’s the worst that can
happen? Okay, we will lose this investment which we did.
Pancham: But you paid that was a real university tuition fee.
Dave: It was expensive.
Regina: There was another time I mean this was really early on. I have a cousin who was starting a
business and we invested with him and really understanding where people come up with evaluation
of their company and all those kinds of things I think are important, you know, with him he worked
incredibly hard to try to launch that and put in a lot of time and effort and so I, you know, he feels
really badly but I always say to him well we invested in your education. You know, you have three
years of energy and time and lessons learned and you know, going in having a product manufactured
and all these different things and so you know, education doesn’t have to be work in order, university
always you know, life and what happens and learning from mistakes is I think the most valuable
Pancham: Absolutely. I say this that college is theoretical education, your real education starts only
after college, so I think that’s so true. All right, so my last question for you guys is what is one piece of
advice would you give to people who are thinking of investing in Main Street outside of Wall Street,
you know, for the first time?
Regina: Well, for me, I mean I think for us we wanted to have a business. We wanna teach our
children investments. We believe any kind of skills that they can learn in participating in the family
business it’s life changing, I mean that’s how the world works. So, for us that’s part of it is just, you
know, I also go into this like small businesses medium, businesses are what America was built on and
so for me I like the idea of having, you know, having be involved in some kind of a business as well.
Dave: Mm-hmm. Yeah. I mean it goes to the education just like what we were talking. You need to
learn before you invest but you’re continuing to learn as you invest and so you know, just be a
continual lifelong learner.
Pancham: Great. Thank you for sharing that advice. So, you know, thank you Regina and Dave for
adding so much value. How can listeners—you actually have put together a report, really good report
about investing in camp grounds and how it has work this pandemic, this COVID situation, how can
listeners get that and reach out?
Dave: Sure. It’s tough five reasons why now is the best time to invest in RV parks and camp grounds
and they can get that report just sending an email to firstname.lastname@example.org. So, that’s
Pancham: Great. Thank you. Thank you for your time Dave and Regina. It was awesome to have you
Dave: It was our pleasure. Thanks for inviting us, Pancham.
Regina: We appreciate it.
Pancham: Thank you.
Pancham: Thank you for listening. I’m really excited about this asset classes’ future. I don’t know
where it’s gonna go but it seems really bright especially we are in the middle of this COVD-19
situation and I’m also taking my very first trip to a camp ground, so we will see how that goes and
they also mentioned about homeschooling which seems really intriguing to me and can become a
reality for definitely more people now given the situation. So, let me know if you have ever
homeschooled your kids, I would love to know your experience. Again, thank you for listening I
appreciate you. If you have questions, email me at email@example.com. That’s P as in Paul
@thegoldcollarinvestor.com. This is Pancham signing off. Until next time. Take care.
Thank you for listening to The Gold Collar Investor Podcast. If you love what you’ve heard and you want more of Pancham Gupta, visit us at www.thegoldcollarinvestor.com and follow us on Facebook at The Gold Collar Investor. The information on this podcast are opinions. As always, please consult your own financial team before investing.