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

Jonathan Twombly spent 12 years as a corporate attorney for some of the most prestigious law firms in New York, Boston, and London, before switching tracks and becoming a full-time real estate investor and syndicator. Now, Jonathan is the owner of Two Bridges Asset Management and his attention to detail, creative thinking, and tendency to notice overlooked connections has had a huge impact on his returns, as well as those of his investors. Today we'll discuss how Jonathan chooses his partners, and why you shouldn't treat your partnership like a marriage.  You'll also learn how Jonathan overcame some setbacks early on when his deals didn't pan out, and how he spent three years chasing opportunities before completing his first deal. Jonathan also shares tips on working with attorneys, how he presents his opportunities and tells the story of the deal, what it means to have a fiduciary responsibility to your investors, and his outlook on the multifamily and apartment market. Jonathan also hosts the Real Estate Launchpad podcast (I was a guest on episode #28), and can be reached through his website & Facebook page: https://realestatelaunchpad.net/booster/ Multifamily Investment Community (Facebook)

29 Juli 20191h 1min

Today we're going to talk about Raising Capital from a source that we typically don't consider when putting together the equity for our investment opportunities.  We've discussed syndication and raising funds from high net-worth accredited investors, but what about the Ultra-Wealthy - those with over $30 Million in net worth? My guest today is Richard Wilson, the Founder & CEO of Family Office Club, and he is going to help us understand what the Ultra-Wealthy look for when investing their capital, and the top 6 headaches of Family Offices worth over $100 Million.  He'll also reveal how you might be able to help them while funding your own opportunities. Richard also shares what he teaches investors about coming up with their 'one-line pitch', why its better to be 'long-term greedy' and create lasting relationships with family offices, what a typical deal structure might look like, and what not to do when pitching to the Ultra-Wealthy. Richard is also the author of "Centimillionaire Migraines", as well as other books on Family Offices.  He runs the largest community of family offices globally called "The Family Office Club", with over 1,750 registered family offices, and hosts the "Family Office Podcast". You can find out more about Richard by going to his websites: https://familyoffices.com http://capitalraising.com

22 Juli 201954min

Todd Dexheimer is a former teacher who has been investing in real estate since 2008.  He's accomplished over 200 flips and currently controls over $15 million in Apartments and Multifamily.  Today, Todd is going to share how he's managed to grow his portfolio so quickly, and what he's done to raise over $10 million in private equity. Todd is also the host of the "Pillars of Wealth Creation" Podcast where he interviews successful business leaders.  He's also the principal owner of Venture D Properties which syndicates Apartment Opportunities in emerging markets around the country. Todd and I will discuss how he scaled his business from Single-Family to Apartments, investing in markets outside your backyard, the importance of realistically budgeting for Cap Ex improvements, and the mentors and books that have helped him achieve his success. There's a lot of great insight and information packed into this episode.  You can contact Todd through the following websites: http://www.venturedproperties.com http://coachwithdex.com

15 Juli 201948min

Today we're going to talk about New Construction & what it takes to be a Real Estate Developer.  A lot of people think this is an exciting and rewarding career - but is it? My guest today is going to help us figure that out.  Bradley Hartwell is the Founder and Real Estate Strategist with North Town Real Estate, a West Michigan Real Estate firm specializing in acquisition, brokerage, consulting, and development of residential and commercial properties.  He's also a Professor of Real Estate at Central Michigan University. Bradley has been an instrumental player in developing several large commercial and residential projects in the Grand Rapids area, and today he is going to take us through the process - from identifying the site and other pre-development tasks, to the construction process and the eventual completion and leasing of the property. We'll also discuss the strategy of building apartments that can be converted to condos later on, and the role financing and fund raising plays in the process.  Bradley also has a lot of experience & stories that he'll be sharing with us. If you've ever considered developing your own real estate project, or are interested in the development and construction process, then this is a 'must-listen' episode with a seasoned expert.  You can contact Bradley through his linkedin or email: https://www.linkedin.com/in/bradley-hartwell-19074147/ bradley@northtownre.com

8 Juli 201955min

Today we're going to talk about Mobile Home Park Investing with a renowned expert on the subject.  Many of you know Kevin Bupp from his popular podcast "Real Estate Investing For Cashflow".  Kevin is a serial entrepreneur with over $100 Million in transactions, including apartments, single family homes, office buildings, raw land, condos, and his favorite, mobile home parks. Today Kevin is going to tell us how a lunch meeting turned him into a Mobile Home Park Investor, how this asset class compares to apartment investing, why cities and municipalities are zoning these parks out of existence, and what you're really investing in when you buy one of these communities. Kevin will also share his tips on working with the homeowners and residents of these parks, the criteria he uses when conducting due diligence on an investment opportunity, and how to avoid the pitfalls that can cost investors a lot of money.  Kevin shares a scary story about a very lucrative-seeming investment that went wrong because the utilities needed replacing. Kevin also teaches his methods to Mobile Home Park Investors across the country, and you can learn more by going to his websites: https://mobilehomeparkacademy.com http://dealfindersformula.com/home

1 Juli 201946min

One of the bonuses of attending the RPOA's Annual Conference this past February, is that everyone had the opportunity to enjoy a special Q&A session with Jeremy Cole & Ramon Huerta.  If you don't know who these guys are, you soon will. They're the stars of "Gritty To Pretty", an HGTV show that was just about to air its 2nd episode on the DIY Network, and has since been picked up for a full season by HGTV - which they are currently shooting. Jeremy & Ramon are both passionate about improving the Kalamazoo, Michigan neighborhoods they invest in, and Jeremy is on a mission to save homes that the city would prefer to tear down.  In this episode he goes into detail on the true cost of tearing down homes in terms of dollars, neighborhood impact, and the availability of affordable housing. This is a wide-ranging Q&A with a lot of great questions from the audience about investing, rehabbing, and being on a hit reality tv show.  It was a lot of fun to record, and I know you're going to enjoy this episode and everything Jeremy & Ramon have to share.

24 Juni 201954min

Anna Myers acquired her first 500 Multifamily units in 2018, and another 300 units in 2019 (so far).  Today we're going to find out how she's been able to grow her portfolio so quickly through her systematic approach to analyzing markets and opportunities, as well as her ability to create pivotal & strategic partnerships. From single-mother, to surviving the tech market crash of 2000, to becoming a small business owner and eventually the Vice President of Grocapitus, Anna has always relied on her analytical skills to improve her opportunities.  Today we're going to learn how she's seized certain opportunites along the way that have led to her success.  Whether it be volunteering to build an analysis tool for her mentor, Neil Bawa, or becoming an educator and trainer on commercial underwriting through MultifamilyU. Anna will share how she uses her systematic approach and knowledge of data science to find the best markets that will weather the next downturn, analyze potential multifamily opportunities, and improve the management and leasing of the apartments she owns.  And yes, Anna will name the markets that she finds most compelling. Anna's perspective is unique in this industry, and you'll definitely appreciate the wisdom & knowledge she's about to share.  You can find out more about Anna and the courses she teaches for MultifamilyU by going to https://multifamilyu.com

17 Juni 201949min

One of the biggest fears landlords and rental property owners have is nightmare residents.  I'm talking about tenants who seem okay at first, but then decide they're not going to pay rent, damage your property, and cost you thousands of dollars trying to evict them and clean up their mess. How can we avoid this problem?  Well, the best answer is proper tenant screening.  But not everyone understands what the best practices are, or even how to go about it. Today, I'm talking with DJ Newman, the owner of Grand Slam Investigations.  DJ is a licensed private investigator and an expert on running background, criminal & credit checks on potential tenants.  DJ is going to share his screening methods in order to help you find the very best residents for your property. Grand Slam Investigations is also affiliated with the RPOA, and DJ will discuss the benefits they provide to RPOA members.  He also has some great stories of the private investigation work he's done, including the survelliance work that led to having a shotgun pointed at his head, along with some other scary encounters. I know you'll enjoy this conversation with DJ, and you'll definitely get some tips that will help you find better residents.  You can contact DJ through Grand Slam Investigations' website or by phone. www.gsipi.com 231-359-1555

10 Juni 201927min