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

My guest today played goalkeeper for a Big 12 Championship-winning women’s soccer team, spent years touring the world as the lead guitar player in a punk rock band, and became a millionaire by the age of 31 by strategically investing in short term and vacation rental properties. Avery Carl owns a portfolio of 30 properties and is the CEO and founder of the Short Term Shop, a real estate team that helps investors acquire short term rental properties in the most recession resistant markets, and trains them on the methods that led her out of the corporate rat race and into financial freedom. Today, Avery is going to help us understand the right markets to invest in, the difference between buying an Airbnb and vacation rental investing, how you can self-manage a short-term rental remotely from anywhere, and how to analyze a potential vacation rental for optimal ROI and cash-on-cash return.  Avery will also share the type of loan she uses to finance her vacation home acquisitions. There is a huge amount of valuable information packed into this conversation.  You can contact Avery through her website or email: https://theshorttermshop.com info@theshorttermshop.com

16 Nov 202035min

Today we’re going to talk about the dirty and gritty side of investing in real estate and the unglamorous aspects that most rental owners have to deal with, such as septic clean ups, eviction clean-outs, pre-1920’s construction and investing in C & D, and even F properties.  These are the parts of our business that people rarely think about that can actually be quite profitable. And here to share his experience in this area is Mike Bonadies, a landlord and co-owner of a New Jersey-based property management company called TerraVestra, as well as a maintenance, preservation, and construction company called Side By Side MRO. Mike owns 25 units of small multi-family and mixed-use, and he manages 225 units.  His maintenance and preservation company has worked on over 600 units and foreclosures, and they specialize in pre-1940 Multi-family construction. Today Mike is going to share his knowledge on the different types of electrical wiring and plumbing materials to look for during an inspection, septic and fuel infrastructure issues that can create expensive toxic waste clean-up problems, as well as his experiences getting rid of tenants who were selling drugs or prostitution at his properties. I know you’re going to get a lot of great information that will help you make better decisions when investing in rental property.  You can contact Mike by going to: https://www.terravestrapropertymanagement.com https://www.sidebysidemro.com

9 Nov 20201h

One of the reasons people are reluctant to start investing in real estate is that they don’t want to deal with tenants, toilets & trash.  And anyone who manages residential real estate will tell you that it can be very stressful and time consuming. My guest today is going to help us tackle those reservations head on.  He believes that property managers can take their real estate investments to the next level through simple tweaks to their mindset and tactics, especially when it comes to working with tenants. Gary Spencer-Smith has over 20 years of experience in real estate and is an active investor with more than $10 Million in single family homes, commercial real estate and resort properties.  He also just completed his new book called “The Property Manager Mindset: Reduce Stress, Save Time, Earn More Money” and he’s the co-owner of RevNYou, a growing real estate education platform. Today Gary is going to share Property Manager Mindset Shifts that will help you become immune to emotional manipulation, think like a tenant to reduce stress, and solve the 3 most common tenant problems managers encounter.  We’ll also discuss the ad copy that attracts your ideal renters, Gary’s 4-level system for ranking tenants and property to ensure rents get paid, worst-cast analysis to prepare you for anything, and Gary’s systems and checklists that build confidence for tenant walk throughs, move outs, and repair requests. I know you’re going to get a lot of great advice and ideas from this episode.  You can learn more about Gary by going to https://www.revnyou.com by email: gary@revnyou.com Youtube: Rev N You with Real Estate

2 Nov 202057min

Spend the Night with me in a Haunted House! Welcome to Part 2 of our Halloween Series on Haunted Houses, Apparitions, Paranormal Experiences, and the Roommates who don’t pay rent & can’t be evicted. In part one (episode #251) you were introduced to a retired reverend who has been experiencing paranormal activity and communicating with the dead since his near-death experience at the age of 5. You also met several of his paranormal research assistants and heard their stories as well. Today, we’re going to take you on a ghost hunting adventure to a haunted house in the historic district of Bay City Michigan.  You'll find out the strange reasons we were brought there in the first place, how the homeowner was almost pushed off a ladder by a ghost, and what happened that night after 2 A.M. that is so strange, and so hard to explain, that I can't wait to share it with you. If you're experiencing paranormal activity in your home, rental property, or place of business, you can contact Reverend Hunter through his publisher at https://thunderbaypressmichigan.com

29 Okt 202033min

Welcome to our Special Halloween Edition with all new stories about Haunted Houses, Apparitions, Paranormal Experiences, and the Roommates Who Don't Pay Rent, and Can't Be Evicted. We did something similar 3 years ago on EP#94 and it was one of my favorite all-time episodes.  Today we go even deeper into paranormal phenomenon and I know you're going to love this incredibly thrilling episode! I recorded so many great stories that I had to break them up into two episodes:  In Part One you'll meet a group of Paranormal Researchers and the Retired Reverend who has brought them together.  In Part 2 you'll get to accompany me to a Real-Life Haunted House in Bay City Michigan. I want to warn you that some of these stories will frighten you, and some may even terrify you.  If you're easily scared or prone to nightmares, then this is not the episode for you.  Aside from the sound effects I've added in, everything you're about to hear is the actual professed experiences of the people involved.  These are real people, with real stories of paranormal events that can't be explained, and are even harder to understand. If you own a home, rental property, or business that is haunted or experiencing paranormal activity, then Reverend Hunter would like to hear from you.  You can contact him through his publisher at Thunder Bay Press: https://thunderbaypressmichigan.com/contact

26 Okt 202053min

Hello & welcome to episode 250.  We’ve reached the quarter-century mark and I thought I'd do things a little differently to celebrate this milestone.  We’re not going to have a guest today, I’m just going to spend a little time talking with you about the show: giving you a behind-the-scenes peek at how we put it together, answering some of your questions and feedback, and sharing the systems, technology & lessons I’ve learned from hosting this show over the past 249 episodes. I'll also be discussing some of the deals I've done with people I've met through the show, as well as my outlook on the real estate market and the property I just closed on this week that we intend to develop. You'll also find out why one of my favorite all-time episodes is the one that will be going live next week. I hope you enjoy this behind the scenes tour.  I'm very grateful for the opportunity to share these past 250 episodes with you, and want to thank the incredible team at the Rental Property Association for making it possible.

19 Okt 202041min

When you live in a high cost area such as the San Francisco Bay community, you have to apply some serious out-of-the-box thinking to achieve profit in real estate investing.  Over the last six years, today’s guest has taken over 50 multifamily units from negative to high cash flow positions using the traditional BRRRR model as well as fix & flips.  She's also figured out a way to double her money in multifamily investing in under two years. Sri Latha has been investing in multifamily since 2014 and she brings her experience as a data scientist and researcher to the finding, analyzing and acquisition of commercial multifamily.  Sri and her husband are also under contract for several hotel-to-multifamily conversions. Today Sri is going to share how she’s able to double her investment within one to two years as well as her strategy for buying in high-cost, rent-controlled areas of California.  We’ll also be doing a deep dive into Sri’s three favorite techniques, which are Cash For Keys, ADU’s (Accessory Dwelling Units), and Layout Changes. We’ll also discuss her hotel rehab and conversion strategy that she’s about to employ, and learn how and why rezoning is one of the most profitable things you can do in real estate investing. I know you’re going to enjoy this conversation with Sri, and it’s very likely she will change the way you think about profiting from Real Estate.  You can get in touch with her through www.thesrilathagroup.com and Instagram or sri@thesrilathagroup.com

12 Okt 202054min

Today we’re going to talk to someone who has achieved huge success investing in commercial multifamily and apartments.  Recently he’s grown his company’s portfolio from 2,500 units owned & operated to over 6,200 units.  He’s raised money from both institutional and individual investors through syndications and closed-end asset funds. John Azar is an Executive Vice President and Managing Member of MACC Venture Partners where he directs acquisitions, strategic development, capital management and growth.  In his past roles, John has been a commercial banker in various financial institutions and understands inside & out debt and equity financing as well as deal structure and how to grow successful companies. Today John is going to explain how he structures his deals, sources his financing, and the types of investors he works with and the returns they expect.  John will also share how his experience as an immigrant to the U.S. has shaped his perspective on success. I know you’re going to score a wealth of information from today’s conversation.  You can contact John through email or website:  john@maccvp.com or https://maccvp.com

5 Okt 202045min