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RG 130 – Creating Real Estate Business Ecosystems w/ Dr. Dan Handford

RG 130 – Creating Real Estate Business Ecosystems w/ Dr. Dan Handford

About Dan

  • Dan is a registered chiropractor
  • Dan has a podcast Tough Decisions for Entrepreneurs
  • Dan is the principle at Handford Capital

Nuts and bolts

Dan is principle at Handford Capital where he works with his wife. This year they have closed on three properties valued at over $67 million and also 800 units as co-syndicators. Dan is also president and founder of 5speciality medical clinics throughout Southern Carolina and he advises other medical specialties. Dan is an angel investor to support young investors and has just launched a new podcast called Tough Decisions for Entrepreneurs. Dan made his first dollar mowing lawns and pressure cleaning. When he went to chiropractic college he was instructed that he would need a full body skeleton model which was selling in the town for $185. He found the same skeleton online and called the distributor and got a bulk discount for 20 units at $65 each which he sold for $69.95 on campus. As there was a new group of student every 3 months on campus he was able to sell a fresh set of units regularly. Eventually he went directly to the manufacturer and got the models for $42 each, he also bought chiropractic tables and sold those. Both companies are still going and they did so well during college that he was able to set up his first practice without debt.

Dan adivses on the tax advantages of investing in real estate, this isn’t dodging tax but minimizing the exposure. He advises that you go through each property, or pay someone to do this, and analyse the property down to each individual component for depreciation. The tax can be offset from each item and then that can show as negative cashflow on the property. The tax law passed by Trump is also beneficial for multifamily property investment. By invewsting in value-add properties you’re putting more money into the local economy by paying people to add value and buying items from local suppliers. This could possibly have more impact than local government taxes in some cases. Dan has recently joined an incubator programme where he pays a fee and they vet local start-ups that need investment. This is a great solution for someone with money to help people but no time to vet each investment opportunity.

Top tips

  • Most important habit – Does a mastermind chat with his wife each morning
  • Most influential person – His wife’s uncle
  • Most important tool – Calendly and Contactually
  • Contact – handfordcapital.com