EP036 Building a Full Service Property Management Company, Tips on Leasing and Managing, Mistakes landlords make and the importance of the RPOA in protecting landlords with Mark Troy

Today we’re going to talk about the future of retirement and how real estate is an often overlooked vehicle for securing your financial future.  Increasingly, pensions are being converted to 401(k)s which is shifting the retirement risk to employees.  This has caused today’s guest to reconsider traditional beliefs about retirement savings. Eric Martel lost a fortune during the dot-com crash of 2001 and started looking for alternative ways to earn passive income.  He started various businesses including a gourmet sauce company, but eventually came back to his first love, real estate, which led him to form Martel Turnkey.  After four years of rapid success, he was able to retire from his W2 job.  Eric is also the author of the recent book called “Stop Trading Your Time For Money”. Today we discuss Eric’s beginnings as a real estate investor when he purchased an apartment building at the age of 18.  He quickly burned out on investing though because he was handling all of the property management and repairs.  We’re also going to discuss what it means to have financial freedom, and the goal setting and actionable steps you can take to achieve it. Eric will also share the turn-key model he’s developed investing in secondary cities with rehabbed houses costing (roughly) $100,000 that can be purchased with 20% down and cashflow $300 a month.  We discuss the turnkey aspects of this type of investing, the power of leverage and depreciation, and the risks from tenants and property condition. This is an important episode for anyone who’s paying attention to their potential retirement income, and will get you to start thinking about meeting your living expense by generating additional passive income.  You can find out more about Eric on Instagram at E_Martel or facebook at Eric.Martel.ca, or https://marteleric.com Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

21 Juni 202148min

Today we’re going to get hyper-local and discuss the eviction protection program here in Kent County.  No matter where you live and own rental property, there are programs like this all over the country that are helping residents who are struggling to pay their rents during the pandemic, as well as landlords who need to collect that rent in order to make sure their bills are being paid. Gustavo Perez is the CERA Program Manager at United Way.  CERA stands for Covid Emergency Rental Assistance Program and its receiving millions from the Government that need to be deployed right away to help renters and landlords. Gustavo is going to help us understand this program and how our residents can gain access, the criteria for receiving the money, and how many months it will cover.  We’ll also discuss some of the hesitancy that landlords have in accepting this agreement as well as the benefits from working with this program. If you’re in Kent County, Michigan you can access this program by going to www.kentrenthelp.org Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

14 Juni 202132min

Mobile Home Park Investing has been a hot asset class over the past five years, and we’ve certainly talked about it on this show.  But what kind of opportunities are really available to investors right now, and how has the increased competition from institutional buyers and effects of the pandemic affected the opportunities in this space? My guest today is here to give us an update on the state of Mobile Home Park Investing.  Brian Spear is a founder of Sunrise Capital Investors which specializes in acquiring deals in off-market, direct-to-owner transactions.  He’s also the co-host of the Mobile Home Park Investing podcast. Today Brian is going to share with us the trajectory that led him to investing in real estate, and the systems and tools he’s using to not only build a world-class mobile home park portfolio, but to manage it as well.  You’ll learn the meaning of “Prep-ortunity”, and how Brian moved across the country to work with his mentor Kevin Bupp for free.  We’ll also discuss some new investments he’s making in parking lots and parking garages, and why he finds this such an exciting asset class. I know you’re going to enjoy this conversation with Brian and benefit from the knowledge he brings today.  You can contact him through https://sunrisecapitalinvestors.com/funds/fund-iii/ Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

7 Juni 202143min

One of the reasons people never pull the trigger to invest in real estate is that they believe they won’t qualify for a loan.  But what if there were a way to acquire property without ever stepping into a bank or passing a credit check? Today’s guest bought his first 400 units using techniques that allowed him to sidestep the banks and work directly with the seller.  He now has over $100 Million in assets under management and he’s sharing his secrets with us today. Bill Ham is the author of “Creative Cash: The Complete Guide to Master Lease Options and Seller Financing for Investing in Real Estate”.  Today, Bill is going to explain the Master Lease Option process and how he’s employed it in his investing to yield enormous profits.  Bill will share his “SPY” process, which puts the Seller first, Property second, and then takes into account how You will Profit.  Bill also shares his outlook on the market and the looming distress he expects in certain sectors that will make Master Lease Options and Seller Financing important tools in your investor toolkit.  If you’re looking for creative ways to get deals done and reduce the amount of capital you need to employ to acquire new assets, then you’ll definitely enjoy this episode.  You can contact Bill through his website at https://creativeapartmentdeals.com Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

31 Maj 202154min

My guest today believes that Holding Forever is the best way to become Financially Free. Jonathan Barr grew up in a real estate family and started investing after the Great Recession.  He’s completed Higher-End Single Family Flips, Ground Up Developments, and Multi-Family Repositions with his brother through their company JB2 Investments. Today we’re also going to talk about Fix & Flipping V.S. Multi-Family and Jonathan’s investment strategy that has generated over 22 Million in profits with an average yearly return of 38%.  We’re also going to discuss the tax ramifications of both strategies, including cost segregation reports, depreciation, and the “Real Estate Professional” status. Jonathan will also share details on the townhome development project he initiated in Los Angeles, and how it’s taken over five years to break ground.  We’ll discuss the 1031 exchange he completed by selling a Los Angeles duplex in order to buy a 14-Unit in Kansas City, and another recent 1031 exchange where he acquired a 72-Unit during the Pandemic. We cover a lot of ground in this episode, and I know you’re going to benefit from the experiences Jonathan has had along the way.  You can contact Jonathan on twitter: JB2Investments, website: https://www.jb2investments.com and ebook “The Tax Stack Strategy”, which is available for free at https://www.jb2investments.com/lower Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

24 Maj 202135min

My guest today has developed a program that is designed to increase rents by 3 to 5% without costing you a huge capital investment.  He accomplishes this by optimizing your rental space. Jim Monk is the President of CLOZZITS and believes space optimization is a game-changer for existing properties as well as new construction.  Creating more space for residents is a bigger issue that most owners think, and Jim is here to tell us why. Today we’re going to discuss the value proposition of maximizing your closet space, what potential residents look for when assessing unit storage, the types of systems that work best, the preferred lighting for your space, and the ways our “do-it-yourself” listeners can maximize space on their own.  We’ll also discuss the costs and ROI generated by installing these systems, as well as the tax benefits and strategies to pay for them. Talking about closet space may not seem like the sexiest topic, but I guarantee you’ll find what Jim has to say eye opening and thought provoking.  You can find out more about Jim and CLOZZITS through their website:  https://clozzits.com Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

17 Maj 202150min

What I admire about today’s guest is that she is extremely strategic in her approach to real estate investing, fearless in the type of projects she takes on, and creative in the way she structures her deals and works with her clients. Allison Koetsier is also a Top-Selling and Award-Winning Multi-Family broker with Compass Realty Services and a previous guest on this show.  Today we discuss why it's important to have a clear investment strategy & goal, the biggest mistake she sees first-time investors make, and why you need to build a great team.  We also discuss Exit Strategy and taking a holistic view of your portfolio to position it for your heirs and Legacy Wealth. Allison also goes into detail on a 48-unit in Southern Michigan that everyone told her not to buy, and why she did it anyway and made an Infinite Return.  We’ll discuss why she was able to make such great returns in a tertiary market by spending $10,000 a door in improvements, and the factors that convinced her this was a project worth pursuing. We’ll also talk about the conversations Allison is having with her clients in this incredibly hot market, as well as her advice to still turn a profit when pricing is so competitive.  We’ll also talk about her Father, Tom Koetsier, who passed away recently, and the impact his advice had on her future as well as his importance to the Rental Property Owners Association. I know you’re going to love this conversation with Allison, and there’s a lot of great advice and investing wisdom packed into this episode.  You can contact Allison through her website:  https://www.teamkoetsier.com or email:  akoetsier@compass101.com Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

10 Maj 202138min

When you look at all of the disruption, vacancies, and permanent closures in the office, hospitality, and retail space, it’s clear that we need to start thinking differently about Adaptive Reuse of these buildings.  And since one of the greatest needs we have in this country is for middle-income housing, I believe we’re going to see a lot more conversion projects designed to expand our middle-income housing inventory. Recently I saw an article in Costar News about a permanently closed Ramada Inn located in Sheffield, Alabama that was being converted into apartments for middle income workers.  I thought this would be a great topic to discuss on the show, so I contacted the developer, Richard Rubin with Los Angeles-based firm Repvblik (pronounced “Republic”), and he agreed to a conversation. Originally from South Africa, Richard brings a unique and creative perspective to obsolete and vacant buildings, as well as solutions for increasing inventory of workforce housing.  Today he’s going to explain the need for workforce housing, the types of adaptive reuse projects he prefers, the economics of adaptive reuse, and how the government can help facilitate this type of project. We’ll also go into detail on the Ramada Inn conversion in Alabama. It pays to think differently from everyone else when it comes to real estate investing and development.  I know you’re going to benefit from hearing Richard’s perspective.  You can contact Richard through email: richard@therepvblik.com or on linkedin. Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

3 Maj 202146min