“You know, I talked about the landmark, that’s the business I’m in, you know, there are some other commercial assets, the office, small office buildings in, in, in shopping centers, right, in that, that is, that was what my dad and his brother, both attorneys, and both manage those commercial assets, know that that’s sort of how they were, they were taught, you know, in the real estate game, you know, the big exits being bought up by a reader or just selling at the top of the market, whatever the conversation that’s being had is what happens if one partner does want to sell our or we have an asset that we are pouring money into we refinanced. You know, these buildings, right. And you have to do some facade work on buildings that are over 100 years old, you’re pulling a million dollars on a refinance, not getting any more rent, this is just necessary maintenance that that happens. And so then you’re pulling out money to fix up units, and hey, can we sell this in five years? Let’s look at this in two years, three years, four years, and five years. And so that’s a conversation we’re having about an asset. And, and, you know, that wasn’t part of the initial strategy, but we’re looking at solutions, you know, like the Capital Gains Tax Solution that you offer, you know, to say, technology, in experts in the tax code have evolved, you know, over the last 30 years, so, you know, there might be opportunities, you know, to sell and not go broke because that’s what you know, that that is a without the right strategy, right. poor planning is the enemy is that what you said?”
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John Carney On Exploring Your Options With Deferred Sales Trust
Brett:
Our next guest is a multifamily expert, a commercial real estate expert. He grew up in the family, his father was in the business and he had a chance to absorb it all. And he’s going to share some knowledge now as he has joined the family business. He also is a fellow LeBron James fan as I am, and from Cleveland, Ohio, or happened to have a bunch of families too in Akron, Ohio. Anyone who knows Swarts with a Z, that is my mom’s maiden name. And I hope to meet you soon. If you’re listening to this in Ohio. I think I have three to 500 relatives. All that being said enough about me, our guests, John Carney you can find him at johncarneyonline.com, he also hosts a really cool podcast called the Real Estate Locker Room. And it’s a nice kind of twist and or combination of sports in real estate, and how working as a team and really focusing on excellence can help you grow your real estate wealth. So with that being said, John, welcome to the show.
John:
Hey, thanks for having me, Brett. I am fired up and this is an important topic that we’re gonna dive into today.
Brett:
Absolutely. So John, would you give our listeners a little bit about your background in your current focus.
John:
Yeah. I mean, I suppose I represent the third generation in a family real estate business. And, you know, the cut and dry is when you look at historical figures, this is where it all falls apart. Right? It just does. But, you know, I was very fortunate enough to grow up around the real estate business, I come from a family of lawyers when I did not go down that track more of the entrepreneur, I would say that the one business that I started real estate focus that stuck, I was out on my own, I moved to Australia in 2009. To support the lady who is now my wife, Leah, she could not stay in the United States with me. At that time, because she had her mom was unwell. I moved to Melbourne that was you know, right in the middle of our financial hardship, the real estate market had crashed. I had been doing some deals on my own small deals when I was living out west. And, you know, I wanted to be a developer and get into the family business and an investor and I started a business in Australia called America property source. And that enabled Australian investors, you know, to we say safely, you know, invest in, in US real estate in a single-family home and small multifamily space in Phoenix, we were able to accomplish that, you know, is it by having a great team on the ground and knowing the process of how to get from I’d like to invest in, in the United States from abroad, you know, in into, you know, doing it the correct way. And that just, you know, having been surrounded by people that were like-minded, and had all the skills that you didn’t, you know, just showed me that really quickly, you can start a business in a foreign country and be successful. And, you know, that that sort of was one part of my journey in doing real estate development deals over there with some folks. And when I say I’m, you’re on an island, you know, Australia is technically an island and I, you know, built my network, you know, by going out and meeting people and in my business by hustling, and then was asked to come back to Cleveland. So that I could work on some projects with the landmark companies, which is a, which is a downtown Cleveland and Indianapolis real estate developer. meant business, they started out with converting old warehouse buildings and factories into loft apartments in the 90s, I was super fortunate enough to work on those projects in college as a demo, cleanup labor union guy. And then even after college, I got to see development come to fruition. So I mean, I did have some knowledge and background before I left Ohio, and now I’m back in working with the team and we’ve got, you know, a new project that we hope to get out of the ground in the next 12 months. So a lot is going on.
Brett:
Yeah, thank you for sharing that, say what a journey you’ve been on, you know, overseas, and back and family and back and, and real estate, all kind of surrounding that. So I can relate, you know, I grew up with my dad in the Bay Area, developing single-family homes and doing room additions and, and owning real estate, his own real estate, and I was the one you know, moving the bricks or hammering the nails, or you know, doing whatever it takes it to help bring the project to completion. And so I understand how, what it means to be in real estate with family. So that being said, I’m curious, before we dive into some of the strategies you use to build that wealth and help your, you know, partners and such. Who was John growing up, and I really want you to, you know, maybe identify that one strength that you were given, I think we’re all given certain, you know, God-given gifts, and their strengths or certain gifts were given was that one gift you were given, John? And how does that help how you help people today?
John:
You know, I would say that I don’t really accept no for an answer unless there’s a compelling, compelling reason. So I mean, I’m always curious. And I like to understand how things work. In, in more so in business and people in relationships, but you know, so I don’t know, I if we’ve got little kids, I got little kids now, and they’re giving it right back to us. You always say no, you’re always making up rules. So I’m always, you know, maybe taking that with me, but, you know, I don’t always accept things as they are, you could say, and really as that gets, it’s more of a curiosity than to figure out why, why someone’s responding the way they are. And from the child’s perspective, they’re saying, No, they don’t want you to do that. And I’m kind of always questioning why not. So I don’t know if that comes into a, you know, you get in the real estate game or any business on the entrepreneur side, you’ve got to be prepared to get knocked down and you got to be prepared to get back up in, you know, that that’s just sort of was developed over time.
Brett:
Yeah, I love it. So not afraid to ask the tough questions driven and curious at the same time, and just keep going. Right. So I love that and absolutely. So connect that now with your partners in what you’re doing with the family, right? Because I imagine multi-generational wealth, real estate, you know, lots of success. You know, they say something needs to be solved. Let’s get John on that. Let’s get him in the trenches and figure this thing out. Right.
John:
I like to empower my team to solve problems and be innovative and take those risks. But yes, I’m always available to lend my experience and I suppose but you know what it is, it’s like in our family business. You go back to my dad’s side of the family, his father, he was born to Irish immigrant parents that they were it’s that story. I grew up with the American Dream Dream story right here. And it was tangible, you know, you know, had a hard time having to pay to go to high school, skip school to work. You know, Steve was in a house with his brother in, you know, dirt floors, and they became, you know, that they were digging basements. And then they began excavating company construction, right, right into the real estate business. And they were able to grow that into a commercial business, and they became lawyers. And in reality, you know, that, that it’s that American Dream story that I grew up within the 70s and 80s. Right. And on my mom’s side of the family, her parents were Bulgarian immigrants. She’s the first-generation American in her family. My grandfather on my mom’s side fought in World War One, you know, so I grew up with a World War One more veteran, grandfather, and World War Two veteran grandfather. And, you know, there was just it was always about, you know, my grandparents sharing the American dream, you gotta work hard. You’ve got to, you’ve got to, you know, just keep going forward. And my father is awesome. I mean, he’s, he’s an attorney by trade. Really good with language and numbers. And, you know, he just knows that How to you know, build relationships and do deals and make everybody, you know, feel good. And it’s a great trait to have. I don’t claim to have that, by any means. But I mean, it’s just, I was lucky being surrounded by good grandparents and parents, and just being invited into participating in real estate by doing all the ugly work first, right.
Brett:
Love it. Love it, love it, love it, what a legacy, you know, and it’s I don’t know if your dad’s written that book yet. But if not, you got to get on the horn there, right, and start writing that book and capture all that. All that legacy, right? That is such a neat, neat, neat family to be a part of, I imagine it’d be so much fun. So have you written the book yet? Or who’s writing the book?
John:
On that? Um, no, I would probably have to write that book. But I haven’t written it yet. You know, it’s just interesting. You talk about carrying bricks. I mean, so I was a brick brickies labor, you know, and on commercial projects in nothing too crazy. But I mean, you know, that was that. That’s hard work. That’s a hard day’s work. And I don’t know, I think everyone should carry bricks for a summer.
John Carney On Exploring Your Options With Deferred Sales Trust – “To acquire wealth is difficult, to preserve it more difficult, but to spend it wisely is most difficult of all.” – Edward Day
Brett:
Absolutely. I remember with my dad, it was, you know, we get up maybe 6 am. We drive to a local McDonald’s, get a little, you know, sausage, you make Patty and a little. What do you call it? the hash brown? And then by seven, we’re working, you know, for five, six hours, a little quick little lunch break, and then work for another four or five hours. And we’re, you know, moving the tractors, but they had a bobcat, but I mean, it’s Yeah, it’s moving bricks, it’s moving stone. It’s hammering nails, it’s putting up drywall. But yeah, those are some of my best memories. And as well as learning how to work hard and being a part of a family or dad with hard manual labor. There’s something about absorbing that, as you’re a part of that becomes ingrained in you just to work hard. That’s what you do. Right? And these are these long days. And it’s so I agree with you completely, at some point spending a whole summer moving bricks or hammering nails, and it’ll teach you a hard day’s work if that makes sense.
John:
Well, it’s awesome too Absolutely. Now my wife’s side of the family, her uncle, I want to say he’s in his late 60s, he might have even had the big 70, but I mean, he’s a sheep farmer back in Australia. I mean, you know, so when we travel back and visit the family, the kids are on the farm. And I mean, they’re in the shearing shed. And I mean, that’s hard work. So I mean, they’re there. The other side of our immediate family has some grit and some rise in it. Right. There’s a Dierks Bentley song called Riser for all you country music fans out there. But I mean, it really just hits it. I mean, it’s about waking up early and getting the job done. But you know, is it not? I like to think of commercial real estate, we’re in the apartment business we’re in, you know, we’ve got customers, our tenants, and we want to provide a great product and service. And so you know, the entrepreneur, you know, mindset kicks in and says, How do we be creative and stay ahead? stay relevant, right? And with all the new products that come online, and how do we use that at the family story, and that, that, you know, quick decision making someone can get a problem solved, right from the top if they have to pretty much in the same day. And I mean, that’s sort of, you know, part of how we run our business. And it’s not a huge multifamily company by any stretch of the imagination. But, you know, big enough.
Brett:
Yeah, we’ll dive into that a little bit. How many units you guys currently own or manage and give us maybe some of the top secrets to finding deals that make sense today in a marketplace that let’s face it, it’s very uncertain, with the shift of one of the most highly appreciated marketplaces that we were in in 2019. Corona hits, now we’re in the kind of aftermath and are still in the middle of it. What is the best way to make sure that you’re buying deals? Does that make sense? And what are you seeing out there?
John:
Well, you know, we haven’t started looking with the, you know, we’re in May 2020, right. And when the conversations come up, we have a new development project in Cleveland, it’s going to be 214 plus new construction on our lakefront Lake Erie, just east of Cleveland. And it’s on some vacant land that’s adjacent to our existing property, the shoreline, which we acquired in 2017 in added units to that property. So I mean, we’re bringing a critical mass to this little section of Lake frontage that’s just outside of the city of Cleveland and in you know, Lake Erie for folks who haven’t been here. I mean, it’s a big wide open space, it’s an amenity, it’s the north coast, it’s the border between the US and Canada. And, you know, it’s nice on a sunny day and it’s nice on a stormy day. So, you know, that’s what we have in our sights right now as far as our unit Where we’re about 750 units, and we’d be adding another 200 plus in across five buildings that we own at the moment.
Brett:
That’s wonderful. And I’m just curious, what do you think the average rents are going to be once those units are up? And are they two bedrooms, three bedrooms, square footage, walk us through a little bit of the specs there for those who may be interested in development projects today?
John:
The new construction, right? So I mean, we are going to there’s a high demand, I think, in any urban market right now, for one bedroom. And I wanted to say that, that we’re, we’ll have to do our math backward. So there’s gonna be no three bedrooms in the new construction project. And I believe we’re 22 or 24, two bedrooms, and the rest are all going to be three varieties of one-bedroom going from efficiency, kind of in that probably 650 square foot range, you know, up to a little bit higher, maybe 1000 square feet, 1100 square feet. But, you know, I don’t have it in front of me, we’re working on the final, you know, these projects don’t, we’re taking into almost, you know, year three, right, you know, acquiring the land doing the development work in was was was about a year and a half. And if we get in the ground with construction, you know, here at the end of 2020, beginning of 2021. You know, that’s the journey, but we’re just tightening up a few things in our capital stack. And, you know, we’re partnered with a contractor who’s getting the plans, you know, the architect and the contractor in the city, all important pieces of the development project, everyone’s working remotely, and the government’s basically been shut down. So we’re still communicating with people by email, but getting those elusive signatures that are challenging to pin down during the best of times, or might take another month or so.
Brett:
Yeah, I imagine that it can be exasperated a bit with the shutdown. So walk us through the exit plan, right. So Capital Gains Tax Solutions at a certain point, do you sell? Do you just refinance and buy more do 1031? What has typically been the strategy for the family for deferring capital gains tax?
John:
Well, you know, like, if you buy and hold until you die has been the family strategy at the moment. But you know, in that, that is, I don’t know, that that’s, that was learned by my dad and his brothers is passed down from into the second generation, right? You know, I talked about the landmark, that’s the business I’m in, you know, there are some other commercial assets, the office, small office buildings in, in, in shopping centers, right, in that, that is, that was what my dad and his brother, both attorneys, and both manage those commercial assets, know that that’s sort of how they were, they were taught, you know, in the real estate game, you know, the big exits being bought up by a reader or just selling at the top of the market, whatever the conversation that’s being had is what happens if one partner does want to sell our or we have an asset that we are pouring money into we refinanced. You know, these buildings, right. And you have to do some facade work on buildings that are over 100 years old, you’re pulling a million dollars on a refinance, not getting any more rent, this is just necessary maintenance that that happens. And so then you’re pulling out money to fix up units, and hey, can we sell this in five years? Let’s look at this in two years, three years, four years, and five years. And so that’s a conversation we’re having about an asset. And, and, you know, that wasn’t part of the initial strategy, but we’re looking at solutions, you know, like the Capital Gains Tax Solution that you offer, you know, to say, technology, in experts in the tax code have evolved, you know, over the last 30 years, so, you know, there might be opportunities, you know, to sell and not go broke because that’s what you know, that that is a without the right strategy, right. poor planning is the enemy is that what you said?
Brett:
Yeah, not having a clear plan is the enemy right and using a texture for all shadows? Exactly. You got it.
John:
It is so you know, that is the question and I’m a big fan of buy and hold it you know, but I’m not a big fan of forever anything about.
I would say that I don't really accept no for an answer unless there's a compelling, compelling reason - John Carney Click To Tweet
Brett:
Yeah, you know, it’s the old proverb right. There’s a time and a place or a time for war, time for peace, a time to, you know, a time to kill and a time to amend and it’s time to sell on a time to buy right and it really just depends on what the strategy or what the wealth outcome you want it to be and how do you get there and, and the biggest thing that we find before people meet us is it’s the old school thinking Right was in old school meaning like the old blockbuster, right, you have old blocks, that’s how you used to go there, and you have to read the movie. And sometimes the movie would be there sometimes to be checked out, you know, you’d have to return it within another three days, if you didn’t, you get the font, you have a little fee there, you have to make sure you rewind it, that’s kind of like the old 1031 exchange. It’s, it’s restrictive, it’s, it’s a bit clunky, it’s a bit not as seamless as what the deferred sales trust is just like the Netflix now where you can sell and get a new depreciation schedule, you can sell and not do 1031. You could sell and move it all outside your taxable estate, you can sell and separate the partnerships. It’s really an elegant way to solve a lot of the baby boomers because that’s where your parents are, right? They’re probably baby boomers who are older. And they’re faced with what’s called the largest wealth transfer in the history of the planet, which is the $17 trillion is going to pass from that generation to our generation in the next 20 years. And they’re faced with the toilets, the trash, the liability, and the headaches that are associated with the active day to day management. And they’re looking for ways to defer that tax and to retire, but also to pass on the wealth to the next generation without getting absolutely clobbered. So how do you do that? Well, most folks think it is just hold, hold, hold the stepped-up basis, which is one strategy, but the other one is a hybrid, you can sell, move it to the deferred sales trust. And then from there, you can put it back into real estate at any time. And so B creates kind of the best of both worlds. But that being said, Have you guys looked at? I’m curious, with that many units you may have explored in your dad’s or, you know, attorney? Have you explored a state tax and how that might be an implication for family generational wealth?
John:
Yeah, I mean, like, I can’t really speak to that other than he spent a lot of time and energy. I mean, he was a tax lawyer, you know, by training in, you know, keeps his license active with the CEO every year, but you know, for transactional stuff, we hire lawyers to review everything, right, he’s a workhorse, by the way, my dad 75. And he’s charging hard. And now my brother, and I want him to take more time off, right. And they were planning on it this summer, they’re gonna hit the road, or, you know, hit the other side of the Atlantic, right? And we’re all just kind of held up for now. But you know, to answer your question, really, is estate planning, I’m going to say something bad and say, I assume it’s buttoned up. But we talked about it as a family unit. But as far as the business goes, you know, we’re not, we’re not selling anything right now. Right, we have cash flow assets, we’re very paying down debt, we have a great team of managers and people that work for us, and look after these assets and work for hands-on the tools so to speak, right? You know, my brother and I, and, you know, the two founders that they are as well right there, these guys are not your retire in, you know, do nothing type guys. They’re hard-chargers, they’re real estate developers, someone said that once you ride that tiger, you never get off of it. And they’re lawyers, so they enjoy the game, my dad and his partner, Bob, and they’re winding back as far as you know, time in the office. But we’ve all learned in the last 40 days that you can get a lot done without being in the office and that you talk about that generation learning what we know. And you know, being able to really take full advantage of that, that square little device we carry around a rectangular device we carry around in our pockets, and in all the technology that’s out there. It’s been a game-changer for them, you know, being able to hop on zoom meetings and in you know, work remotely with their team through other platforms where we’ve had but haven’t been using.
Brett:
Love it. Yeah, I love it. And then that is the American dream, right? Being able to do what you love, and help people build generational wealth. And so amazing. So are you ready for the lightning round, John?
John:
If I answered your question, we don’t know. Like, we’re trying to get our generation like, we don’t believe that I’m trying to bring the education of people like yourself to the table and say, you know, dying doesn’t have to be the only option guys there. There are some super smart folks out there that have other ways of doing it. And before I jump in, I know that 1031 exchange is something that they aren’t fond of, because as lawyers in real estate their entire lives, they know people that have had bad experiences. And so there’s a real like, now, that’s not it, we could do that, but then we have to buy more real estate and we’ve done you know, so So yeah, I am ready for the lightning round, but I wanted to.
Brett:
No, I appreciate that and that’s really why we started our business and got ahead enough. Friends and family and clients, some lost everything in the Oh, a crash, because they had overpaid for the 1031 exchange, took on too much debt within that 180-day window, and that 45 days to identify, and they didn’t diversify, they didn’t get liquidity, they didn’t get out of debt, and it cost them a lot. And we’re gonna see that happen again, this COVID-19, unfortunately, for those who had overpaid, and were over-leveraged, and it’s sad, it’s really sad if you work 20, 30 years or 10 years or whatever, even five years for a project, just to capture the value but then just to have to overpay in that same market that you captured it in. So we really are here to help provide freedom from capital gains tax, right, and then give options to go back in and optimal timing, which could be the next day, or it could be five years from now. So, so I appreciate you sharing that. And that’s exactly why we’re here, we started this company, for families like yourself, and for all of our friends and family and clients who sell commercial real estate. So they don’t have to ever feel trapped, they can at least have another option or an alternative to save a failed 1031 exchange or just do something besides a temporary one. So that being said, let’s move to the lightning round. JOHN, here we go. So knowing what you know, now, if you go back to your 25-year-old self and tell yourself the one Golden Nugget that could change your trajectory in your life, what would it be?
John:
I would have focused more on surrounding myself with a team of people before I got into some of my first real estate ventures. on my own.
Brett:
Excellent. So get that dream team surrounding yourself with those before you’d gone solo.
John:
That’s correct. I skipped a step once having skipped it since but it was a bad one.
Brett:
I hear you. This is why we’re sharing it. Thank you. What is the one book you’ve recommended or gifted the most in the past year? 
John:
Well, I guess a book that I was part of called 10,000 Miles To The American Dream. I was a co-author of that. And we’re gonna send a few copies your way. But you know, something on my bookshelf right over here that I read recently that’s full of notes is it’s a book called Never Split The Difference. Have you heard about it?
Brett:
I have, Chris Voss, one of the mind-blowing books that I have read in the past year and a half.
John:
I mean, I’m following him on Instagram, get his Tuesday morning thing. I mean, it. It’s an amazing book. So Never Split The Difference is something that, you know,
Brett:
It’s a must read. It’s a must read. Yes. Yeah. Your favorite leadership quote, or theme that you live by?
John:
Wow. You know, never quit.
Brett:
Easy, perfect. Beautiful. What are you curious about right now, John?
John:
You know, I am curious about, we’re in this global pandemic, I’m really curious about how, when bad things happen, you know, good things come out of it. And I’m really curious to see how and what good is gonna come out of this.
Brett:
Love that perspective! And you got me curious about that now too John, our last question, and then we’ll find out where our listeners could find ya. How do you stay centered John, after all, access, after maybe even a family question for the whole legacy? How do you and your family, How do you guys be centered in your values, and encouraged to charge forward to reach new goals?
John:
Well, you know, I just don’t know that there’s ever a finish line. You know, I think you get to a point where you look at how you help other people. But, you know, I don’t know, I was brought up very humble in a very humble environment. And I know that, that in the grand scheme of things, we’re, you know, doing our part in our business, but we don’t really have a big head on our shoulders. I think that you know, I move every day, if I don’t, for some reason, because of schedule, or weather or whatever the reason is, you know, I gotta get out and move myself the next day. So I think focusing on you know, what, how I feel myself in my exercise and my sleep at this stage of the game are the things that keep me centered. And I’ve got a group of people that I exercise with and that that tribe I miss, and we’re getting, we’re getting that band back together next week. And you know, that’s sort of the community aspect of everything and, and, you know, that that’s a place where I go and in, unplug so and laugh so.
Brett:
Love that Yeah, community friendship working out. For me, it’s basketball in the morning, Saturdays and Sundays early and for two hours is the same thing. A little competition. Obviously, a game I love and some community and some friendships so beautiful. I want to thank you, John, for sharing your story, your inspiration and your story about your family’s story. It’s really inspirational, and how multifamily investing can change generational wealth, and how having grit and working hard, and never giving up will propel you to success. So keep using the gifts and talents you’ve been given to make a difference. And before we let you go, where for those who want to get in touch with you what would be the best place for folks to connect to jump?
John:
So you can shoot me an email at JC@johncarneyonline.com. If you’re interested in tuning into the Real Estate Locker Room Show, you know, by all means, we’d love it if you subscribe and, you know, leave us a review.
Brett:
Beautiful. Well, thanks, john. And thanks again to our listeners for listening to another episode of the Capital Gains Tax Solutions Podcast. As always, we believe most high net-worth individuals and those who help them struggle with clarifying their capital gains tax deferral options, not having a clear plan is the enemy, and using a proven tax deferral strategy, such as the deferred sales trust is the best way for you to go well. With that. Please rate subscribe review. I’ll leave a comment. We so appreciate your feedback and all of your support. It means the world to us. Thank you so much. Until next time, make it a great day.
Important Links:
- John Carney
- johncarneyonline.com
- Real Estate Locker Room
- 10,000 Miles To The American Dream
- Never Split The Difference
- JC@johncarneyonline.com
About John Carney
John Carney is a highly-respected Thought Leader in the specialized and lucrative field of real estate investing. As a third-generation property investor/developer he has achieved (and continues to build upon) his own wealth creation and lifestyle freedom. His property deals in the US, Australia, and Indonesia have amassed generous profit and comprehensive international experience.
A published author and sought-after international keynote speaker, John’s popular presentation and book, Real Estate is a Team Sport. The Nine Players You Need to Profit, outlines the steps to become a smarter, more profitable property investor.
John teaches investors to plan for the future and build cash-flow positive real estate assets in order to multiply their wealth. He believes the more a person exercises their investment muscle and ‘plays the game’, the closer they come to achieving the BIG WIN.
John’s knowledge is interchangeable between the US and Australian real estate markets, which has enabled him to build an extensive list of clients in both hemispheres. He’s helped many clients to achieve their own levels of financial freedom.
Born in Cleveland, Ohio, John has always been an active, outdoors person. He played ice hockey and baseball as a child and started skiing at age four. As he got older, his love of challenging himself outdoors led him to Colorado, where he was accepted as an athlete at the Vail Ski Patrol for nine seasons.
He moved to Melbourne with his Australian wife in 2009. The Global Financial Crisis was in full swing and USA housing was at a record low, meaning massive opportunities for investors. Although John was working in real estate and being enticed by top tier international commercial real estate firms, he decided to start his own business with local Australian partners and his USA-based real estate network. America Property Source was born in 2010 and continues to flourish and evolve.
As part of his entrepreneurial spirit, John loves exploring the intersection of lifestyle and challenge. John has to constantly challenge himself and strive to be better. If there is no challenge, there’s no growth. To him, lifestyle is a combination of where and how he lives, and the type of activities he participates in while living there. He’s chosen to live in smaller towns that feed his need for quick and easy access to outdoor areas. John Cross Fits, competes in Spartan Races, mountain bikes, dives (PADI Dive Master), surfs, and skis. And he loves to travel! He’s been fortunate to visit 39 countries and all 50 states in the US, and there are always more places to explore…
That’s John’s story, he’d love to hear yours.
