NEW YORK, NY / ACCESSWIRE / August 25, 2020 / Beginning with his first single family purchase in 2009, Josh Sterling possessed a drive to dictate the success of his future. Josh spent several years gaining experience in the real estate industry and partnered with Barry Flavin in 2017. By that time Barry had also been investing in single family homes and was looking for ways to grow and develop in real estate. (Barry’s earlier career included air traffic control and software sales, while Josh had been a commercial airline pilot and later became an air traffic controller as well).
They set out to create their own business partnership, founding New Mission Capital. With both having different skill sets and resources stemming from their earlier endeavors, Barry and Josh took their friendship and formed their newest, and what would become, their most successful organization.
New Mission Capital focuses on creating long term cash flow by helping investors build wealth through real estate investments, specifically multi-family properties.
After years of working to develop a deep understanding of the market, grow into larger investments, and expand their portfolio, they formed their own property management company. This added significant efficiency and control, allowing them to make the shift from single to multi-family properties. At present they manage approximately 1,000 units across Southeast Michigan and Northern Ohio.
Pushing themselves to grow and develop systems and procedures was a challenge the two faced when they began New Mission Capital. It required a significant time investment to build the network allowing them to locate potential properties. The knowledge to analyze deals and make the determination of what would and wouldn’t work took years to develop. Raising capital required building relationships and trust with investors.
One key to the success of New Mission Capital is their strategy to add as much value as possible to a property, then refinance the property to return capital to investors. The investors will continue to own the same percentage that they initially invested in, even after having their capital is returned to them. This strategy varies from many others in the industry who will draw back a portion of equity from investors once capital is returned.
The driving motivation for Barry Flavin and Josh Sterling has always been building wealth through passive income. As they invested in real estate, the two came to realize the value in expanding their portfolio to multi-family properties as it was much more scalable and had potential to generate a higher return on investment. Building on their friendship and going into business together was inspired by the safety and reliability that real estate has to offer.
Barry and Josh embody the true meaning of dedication through their years of building experience. Mastering a skill requires time, patience, and effort. Without the determination and resources they possessed, New Mission Capital would not have achieved the success it has seen today. To reach their goals, Barry and Josh recognized the need to be comfortable with being uncomfortable. Pushing their limits required them to stay true to their mission, even during times of uncertainty.
When asked the meaning of success, Barry Flavin and Josh Sterling responded, “Success is being able to deliver what you promised. If you can deliver for your investors, then you have succeeded. That success has allowed us to continue to grow and expand our network of investors.” Without the combined efforts of both of them, the business would not have grown to the success it is today. Though starting a new endeavour may be fearful, they believe that fear is but a mental roadblock and one cannot be held back by the unknown. There is no magic formula to “get rich quick,” they claim. Building a brand and reputation among clients requires years of hard work, patience, and dedication.
As for the future, Barry and Josh plan to acquire and expand their portfolio while continuing to deliver solid and stable returns for their investors. The two have constructed a life long friendship and partnership among the real estate and property management industries. To follow along their business and future ventures, click here.
Next Wave Marketing
SOURCE: Next Wave Marketing
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