Episode 25: Interview With Mark Newkirk – Owner and Founder of SEAS, LLC

Mark Newkirk Mark Newkirk[/caption]

I really enjoyed my interview with Mark Newkirk, owner and founder of SEAS, LLC. Mark made comments that brought back memories of when we met and his first year in business. This interview was the first time Mark told me of his days before the property preservation business and the problems that led up to his entering the business. If you tend to favor the underdog or cheer for defeat over hardship, you might be inspired by Mark’s story.

Cubic Yard InterviewListen in while Mark and I talk about:

  • Mark stays on the go growing SEAS business
  • Mark is a 7th generation Tampa resident
  • Mark started out rehabing and flipping homes
  • Attended University of Central Florida
  • Worked for Tampa Bay Buccaneers out of college
  • Performed due diligence on downtown Tampa properties near Channel Side
  • Built a project called the Meridian in Channel Side district
  • Thought future would be in real estate development
  • US suffered mortgage crisis
  • Mark went back to construction roots and lawn maintenance
  • Partnered with father to form SEAS (South Eastern Asset Services)
  • About this time is when Mark started thinking of being “The Contractor’s Contractor”
  • Mark attributes his successes to being stubborn and having his father’s voice of reason
  • According to Mark, the cab of a pickup truck makes a fine board room
  • Robert Kapeluch, Brittany McDonald, Kim Fatica and others
  • Mark learned to put together a team and let the team work
  • Robert, the CEO, has started refusing work that presents no profit
  • Mark looks at the SEAS team as a football team, each with their position to play
  • Mark spends a lot of time doing QC work and networking
  • SEAS now has eleven offices across the US including Hawaii and Puerto Rico
  • Mark feels he has a blue collar/white collar ability to understand contractor problems
  • SEAS business growth is partially attributed to Mark’s business relationships
  • Southeastern Asset Services grew outside of the south east US and became SEAS in order to service from sea to shining sea
  • New offices are primarily for establishing relationships with contractors
  • Jerry in REO department
  • Mark has experience in recognizing how to add value to properties due to his construction background
  • Mark considers REO a lot easier than the full rehabs he did in the past
  • According to Mark, foreclosures are not going away but the present volume will decrease
  • Private equity groups are buying properties
  • 2014, 2015 and 2016 should be good years with new clients
  • Rental properties will need rehabs and grass cuts among other things
  • Auction companies are now offering to auction pools of rental properties
  • There are opportunities in flipping properties and rentals but SEAS will not enter those areas
  • SEAS is trying to merge the needs of the contractors with the needs of clients
  • SEAS has new clients coming in and an expansion of areas to cover
  • Contractors need to perform due diligence in order to make the right decisions

 

Remember, you can request or recommend an interview. Everyone is welcome and every story is interesting. Leave your voice message at 251-300-5650 or email cubicyard.us@gmail.com. You can subscribe to Cubic Yard Interviews on iTunes and you can join our weekly call-in talk show at Talkshoe.

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