EP081 How He Started with a $30K Four-Unit Foreclosure and Built a Million Dollar Portfolio with Tim VandenToorn from United Properties of West Michigan

EP081 How He Started with a $30K Four-Unit Foreclosure and Built a Million Dollar Portfolio with Tim VandenToorn from United Properties of West Michigan

In 2011 Tim VandenToorn took a leap of faith and invested $30,000 from his savings and ROTH IRA into a four-unit foreclosure. That was his first step into real estate investing and he's been going strong ever since, building a portfolio worth over $1 Million dollars. In this episode, you'll find out how he did it.

Tim and I also discuss his previous career in law enforcement, and why he traded that in to work with his family in property management at United Properties of West Michigan. Tim started as a maintenance tech and has since worked his way up to Managing Partner, where he oversees over 500 properties in the West Michigan area. Tim also started United Realty, which assists investors with the acquisition of investment properties.

Tim shares a lot of the experience he's gained during this time, such as buying multiple properties from tax sales, understanding the true expenses of investment property, the power of using 'other people's money', budgeting for capital improvements, and the functional issues tenants look at when deciding whether they should rent your unit.

Tim also spends a lot of time working with first-time investors, and shares his tips on managing your expectations in this hot real estate market, defining your goals, and where he sees the opportunities going forward.

There's a lot of great information packed into this conversation. If you'd like to contact Tim or United Properties, you can do so by email or website:

tim@rentupm.com

https://www.rentupm.com/

Tim can also be found on Bigger Pockets.

Jaksot(592)

EP008 Historic Districts and the Pros & Cons of investing in them with Suzanne Schulz

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EP007 Commercial Real Estate, Private Money, Buy & Hold, Flipping with Kathy Denison Adrianse

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Kathy Dennison Adrianse Interview:  Kathy is the owner & broker of Lighthouse Property Management, a West Michigan startup company that has been in business for thirteen years.  Kathy has a passion fo...

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EP006 How the Rental Property Owners Association can benefit you, with Clay Powell

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Clay Powell Interview:  If you've been listening to this podcast then you know that there is a lot of experience and expertise in the RPOA community.  What you may not know though, is what the RPOA is...

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EP005 APOD and financial analysis with Russ VandenToorn

EP005 APOD and financial analysis with Russ VandenToorn

Russ VandenToorn Interview:  Russ is the owner of United Properties of West Michigan, a full service property management company in the Grand Rapids area.  Russ teaches the course on APODs (Annual Pro...

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EP004 Buying & Selling Rental Property, Appealing your Tax Assessment with Tom Koetsier

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Tom Koetsier Interview:  Tom is an award winning broker with Compass Realty Services and teaches two popular courses for the RPOA: Buying and Selling Rental Property and Successfully Appealing Your Pr...

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EP003 Rehabbing, Flipping, Buy & Hold, Lease Option Strategies with Justin Workman

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Justin Workman Interview: On the surface Justin Workman seems to be a rehabber, flipper, and buy & hold investor. But in reality he's employing some very creative investing strategies that have allow...

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EP002 Property Management, Marketing & Screening for Good Tenants with Emma Persons

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Emma Persons Interview:  Today I sit down to talk with Emma Persons. Emma is a property manager with Qwest Property Management in Grand Rapids, Michigan. Emma is an expert in marketing and screening f...

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EP001 About Your Host, Brian Hamrick

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To inaugurate this podcast, I thought I'd take a few minutes to share the types of investing I do, and the strategies I employ.  I'll also talk about my transition from a career of 20 years in an enti...

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