Espiritu Took Secondary and Kept Warehouse Real Estate in $17M Round
Kevin Espiritu · He Turned A $300/Mo Gardening Side Hustle Into $45 Million/Year | Kevin Espiritu Interview · May 31, 2024 · at 23:19
Epic Gardening founder Kevin Espiritu explains his deal structure and personal de-risking during his $17M financing from The Chernin Group.
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“I was able to take some off, which was great... I was like, you know what, I'm paying these guys, like, 30, 40 K a month in fulfillment fees. Why don't I just, like, start a separate company, buy a warehouse, and then become my own tenant, and, like, build equity in the real estate side, and so, when we raised, I actually didn't, That, that warehouse didn't go with it.”
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