Ask NWI® | Interviewing NWI's Brightest Minds | Thought-Leaders | Business Owners | Entrepreneurs - 031 – Rent-Buy Solution | Build a Community | Eric Zosso | Provito Rent Equity

031 – Rent-Buy Solution | Build a Community | Eric Zosso | Provito Rent Equity

02/23/18 • 48 min

Ask NWI® | Interviewing NWI's Brightest Minds | Thought-Leaders | Business Owners | Entrepreneurs

Summary

The long-term advantages of Buying with the flexibility with Renting is Provito Rent Equity.

Eric has taken his success in the CO-working space and added a twist to develop this concept of a shared responsibility concept to a person’s residence.

Eric Zosso spent five years in the military, so he knows a thing or two about moving. The options are to buy a house or rent an apartment, but neither is perfect. “Both have their flaws,” Zosso explains. “If you look at net worths of owners versus renters, owners tend to be around $145 thousand with their families’ net worth, whereas a renter family is typically around three thousand. A lot of things go into that. That’s not necessarily a causation, but there is a really strong correlation.”

Eric and I take a deep dive into his concept of helping renters gain equity while still having the mobility to move from location to location.

Time-Stamped Show Notes

[00:00] Introduction and background of Eric Zosso of Provito Rental Equity.

[02:40] Provito.

[04:50] Community aspect.

[06:09] Cornerstone Equity.

[09:42] Zosso’s model.

[12:05] The end goal.

[13:35] How would it work?

[18:40] Tenants with equity moving out.

[21:12] The first unit.

[21:44] A different style of property development.

[25:43] Commercial and private space.

[26:28] Rehabilitating his first unit.

[27:28] Scaling.

[27:50] The holding company.

[28:35] Breaking even.

[29:28] Tenant movement and flexibility.

[29:55] Starting the life cycle.

[31:31] Tenant buy-ins.

[32:58] Problem tenants.

[34:55] Self-selecting tenants.

[35:47] Show me the money.

[41:29] Testing on a few units.

[43:55] Coworking and co-living.

[47:07] What you need to know.

[48:03] Contact information.

Links/Resources/Sponsors Mentioned:

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Summary

The long-term advantages of Buying with the flexibility with Renting is Provito Rent Equity.

Eric has taken his success in the CO-working space and added a twist to develop this concept of a shared responsibility concept to a person’s residence.

Eric and I take a deep dive into his concept of helping renters gain equity while still having the mobility to move from location to location.

Time-Stamped Show Notes

[00:00] Introduction and background of Eric Zosso of Provito Rental Equity.

[02:40] Provito.

[04:50] Community aspect.

[06:09] Cornerstone Equity.

[09:42] Zosso’s model.

[12:05] The end goal.

[13:35] How would it work?

[18:40] Tenants with equity moving out.

[21:12] The first unit.

[21:44] A different style of property development.

[25:43] Commercial and private space.

[26:28] Rehabilitating his first unit.

[27:28] Scaling.

[27:50] The holding company.

[28:35] Breaking even.

[29:28] Tenant movement and flexibility.

[29:55] Starting the life cycle.

[31:31] Tenant buy-ins.

[32:58] Problem tenants.

[34:55] Self-selecting tenants.

[35:47] Show me the money.

[41:29] Testing on a few units.

[43:55] Coworking and co-living.

[47:07] What you need to know.

[48:03] Contact information.

Links/Resources/Sponsors Mentioned:

Reviews Help a Ton!

Thanks for joining me again this week. If you have any tips, suggestions, or comments about this episode, please be sure to leave them in the comment section below.

If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post. Thank you!

Previous Episode

030 – INdiana, INdustry, INbetweeen | Embrace Your Home | Jen Soffin | The IN Coast

Summary

Jen Soffin, who is bright and energetic, had an idea in July in 2016. Growing up in Suburban Chicago, attending college in Western Michigan, and relocating to California for a decade or so, Jen finally settled into Ogden Dunes, IN with her husband and two kids to create their HOME.

When some California friends came for a visit, they were in awe of the South Lake Michigan Lakeshore that Ogden Dunes sits on. Who knew t

hat Indiana has more than corn??

Wanting to buy some souvenirs to take back to Cali, Jen was at a loss as to where to find anything for her friends.

With that, a business was born. The IN Coast

After that July 2016 encounter, the timeline goes fairly quick.

Design a Logo, trademark a Logo, find production and the first order of 72 shirts sold in 4 days.

Proof of concept confirmed and Jen and her Husband Eric, along with their two kids are living, breathing and wearing The IN Coast.

Jen admits, as overwhelming as the beginning was, she found fantastic support through our community. She even won an award, and a Biography was written on her in the Dig the Dunes Calendar contest. She now wears her own brand everywhere she goes. A walking Billboard, as she refers to it, but looking good, JEN!

Her product line can be found online, along with a number of local shops in the region carrying various shirts but not her full line. The IN Coast is so much more than a t-shirt it helps shape the foundation of the community that we call home.

Jen thinks a VW Bus, would be a cool place to sell her wares across the beaches of Northwest Indiana. Keep a lookout. In the meantime check the store out online at www.TheINCoast.com

Links/Resources/Sponsors Mentioned:

Reviews Help a Ton!

Thanks for joining me again this week. If you have any tips, suggestions, or comments about this episode, please be sure to leave them in the comment section below.

If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post. Thank you!

Next Episode

032 – Relationships First | Fundraising the Right Way | Rick Peltier | Franciscan Health Foundation

Summary

After going to school for broadcast journalism and working in television sportscasting for ten years, Rick Peltier left the industry and went to work for a healthcare institution in Evansville before moving to the Region in August 2017 to work at Franciscan Health and oversee the Franciscan Health Foundation. As the nonprofit continues its mission, Peltier shares how it’s all about relationships.

Nobody is perfect, but Peltier believes that the Foundation does their fundraising the right way. “We build relationships first,” he says. “The money will come later, hopefully. But you have to know people first. You have to know what their philanthropic interests are, what their passions are.”

Time-Stamped Show Notes

[00:00] Introduction and background of Rick Peltier of the Franciscan Health Foundation.

[03:07] The Franciscan Health Foundation.

[04:12] Doing fundraising the right way.

[06:02] Where does the money go?

[08:44] Franciscan’s reach.

[09:51] Capital campaigns.

[12:17] Who do they serve?

[13:26] Never stop learning.

[15:43] Educating people on how to give.

[16:56] The typical donor.

[18:46] Education about the types of programs they have.

[20:07] What do the donors get out of it?

[22:39] Transferring journalism skills.

[27:32] The aha moment.

[30:14] Hobbies.

[32:59] Parting wisdom.

[34:01] Contact information.

Links/Resources/Sponsors Mentioned:

Reviews Help a Ton!

Thanks for joining me again this week. If you have any tips, suggestions, or comments about this episode, please be sure to leave them in the comment section below.

If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post. Thank you!