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 is an experienced buyer of Non-Performing Notes who got his start investing in Multifamily and Syndicating Apartment opportunities.  Adam Adams' first deal was an 11-unit apartment complex, and he has bought and sold over 500 units.  Currently he's a net-seller. Adam jumped into buying Non-Performing Notes by buying a pool (multiple notes) for just under $1 Million.  We're going to discuss that pool today, and Adam will share how he was able to profit while helping home-owners stay in their homes. There's a lot of pitfalls and mistakes that you can encounter when purchasing notes, and Adam has some very helpful advice and warnings on what to avoid, as well as the dangers he sees in today's market.  We also discuss the unintended consequences of the Dodd Frank Act, and how its impacting people's ability to purchase a home. Adam has a lot of great wisdom to share, and listening to this episode will help you avoid the Crying Game - which is what happens when you purchase notes the wrong way.  Adam is also a pipedrive CRM software expert, and you can watch his tutorials and learn more about his business at his website: http://www.ajarealtyinvestments.com

31 Dec 201847min

My guest today is a really interesting guy with a lot of great stories to tell.  Damion Lupo has a 5th degree black belt in real estate investing, and he's a financial transformation architect.  You'll have to listen to this episode to understand what both of those mean.  You'll also want to listen and learn how Damion built up a portfolio worth $20 million, and then lost much of it in the Great Recession. Damion shares many of his crazy stories about losing money, dealing with tenants, and why his investment career can be compared to the tv shows "Breaking Bad" and "Dexter".  Damion talks about spending over $1 million on seminars, gurus, and mentors, and what he's gained from those experiences.  He explains why he won't do business with anyone in their 20's, and discusses his thoughts on where we are in the current real estate cycle and what might happen during the next recession. Damion is also an expert on "QRPs", or Qualified Retirement Plans.  He'll explain what they are and the power they give investors over their retirement accounts.  He'll also compare them to Self Directed IRAs and explain why he believes QRPs are preferable. I know you're going to enjoy this conversation with Damion.  You can download a free copy of his book by going to www.qrpbook.com You can also visit Damion's website: https://www.totalcontrolfinancial.com/

24 Dec 201846min

James Kandasamy has built an impressive portfolio of Value-Add Multifamily and Apartment Properties in San Antonio Texas.  He currently controls over 1,000 units worth $65 Million and oversees the management and construction through his company Achieve Investment Group. Today James tells us how he did it:  why & how he transitioned from purchasing single-family homes through the BRRR strategy to investing in multifamily, how he identified and acquired value-add properties, and how he bypassed the brokers by going to the sellers directly through direct marketing. James also discusses the thought process he went through before quitting his full-time job.  He and his wife didn't just want to replace their income with cash flow, they wanted to 2X or 3X their income. James is also the author of a soon-to-be released book for passive investors - "Passive Investing in Commercial Real Estate: An Insider's Secret to Financial Independence" which will be available on amazon.com This is a great episode for anyone willing to think 'bigger' and take their financial destiny into their own hands.  You can contact James through his website or email: https://achieveinvestmentgroup.com/ james@achieveinvestmentgroup.com

17 Dec 201846min

Kyle Zimpleman has a really great story to tell about his roller-coaster ride through the Great Recession - how he began investing in single & multifamily properties, why he got rid of them too soon, and the emotions he experienced during the ups and down's of the recessionary market cycle. Today Kyle is the President & CEO of Expand Capital Group which purchases discounted mortgages throughout the U.S.  On this episode Kyle is going to share his stories of the great investments he made in single and multifamily properties, and why he had to let them go during the Great Recession.  What you'll find particularly interesting is Kyle's take on the emotions he encountered as he rode the market cycle, from Optimism to Euphoria as the market reached it's height, to Anxiety and Despondence as it crashed to it's lows.  Kyle has been through all of it and come out much stronger as a result. Kyle is also investing in performing and non-performing notes.  We discuss the discounts he's finding on these mortgages and the ways he's profiting from them.  Kyle explains how discounted mortgages work and shares stories from his conversations with home-owners who he's helped stay in their homes by renegotiating their mortgages. Kyle has a lot of great experience to share and I know you're going to enjoy hearing his story.  You can contact Kyle by email, phone or website: kyle@expandcap.com http://expandcap.com/will-the-housing-market-crash-soon/ 248-955-8222

10 Dec 201855min

Powell Chee bought his first Single Family Rental in Kansas City by using his Credit Cards to pay All Cash.  His next purchase was a 40-Unit Multi-Family in Indianapolis, and Powell has been asset managing and improving this property while living and working in Los Angeles, California. Today Powell and I have a fun conversation discussing the process he went through to find, fund, and improve these investments, and the mistakes he's made along the way.  Powell will share his thoughts on the importance of using financial analysis software, budgeting enough money for improvements, finding out-of-state properties, and doing it all while working a full-time job. Powell also hosts one of the largest multifamily meetup groups in Los Angeles - "Out-of-State Multifamily Apartment Investors Meetup" - and he's going to share how building this network has improved his fund-raising capabilities and created new opportunities.  We also discuss Powell's daily routines, including the benefits he's enjoyed from doing Hal Elrod's "Miracle Morning". I know you're going to enjoy this episode.  Powell has a lot of interesting experiences & wisdom to share.  You can contact Powell through his website or email: https://www.platinumequitypartners.com/ powell@platinumequitypartners.com Enjoy!

3 Dec 20181h 6min

Today we're going to talk about an item that every Rental Property Owner has, but many of us don't think about or understand until something Bad Happens.  I'm talking about Your Rental Property Insurance Policy. There are many ways that you can use Insurance to protect your wealth and property, and there are many ways to make mistakes that will cost you money if and when the time ever comes that you need to make a claim against that insurance policy. So I've invited my Insurance Broker, Mike Murphy from J.B. Harrison Insurance, to talk about the common mistakes he sees investors making on their insurance coverage and policies.  Mike will also share his suggestions on how to make sure you have the proper coverage that will manage your risk, save you money, and add value to your portfolio. I also want to thank Mike Murphy for being a new sponsor to this show.  I've been working with him for five years now, and he's my "go-to" insurance broker for all my residential properties. You can contact Mike by phone or email: 616-868-0050 mikem@jbhins.com

26 Nov 201836min

Quite often real estate investors start out by managing their own properties and once they acquire a certain number of units they decide to hire a Third-Party Professional Property Management Company to looks after their portfolio.  My guest today decided to go in the opposite direction. After working with several property management companies, Ben Blake figured that he could save himself money and headaches by taking control of the property management on his 12-unit portfolio in Grand Rapids, Michigan.  Today we talk about how he went about doing that and the improvement in his cashflow as a result. Ben also shares how one of his celebrity teammates from his College Football days helped him get started in real estate investing, and the influence he had on his early career.  Ben also shares some of the early mistakes he made in screening tenants and the problems he encountered because of those mistakes. If you're going to manage your own properties you need to make sure you have the right team and technology in place.  Ben shares how he uses Buildium, Rently, and Quickbooks to keep his business running smoothly.  He also shares how he works with his tenants and handles maintenance to control expenses. I know you're going to enjoy this episode.  Ben has a lot of great wisdom and experience to share, as well as tools that can save you time and money.  You can contact Ben through email at:  ben@ivygr.com Enjoy!

19 Nov 201843min

Sooner or Later, every one of us will be faced with the challenges of providing safe and comfortable housing for our aging population.  Whether you're looking for a housing solution for yourself or a family member, or you're an investor interested in profiting from this need while doing good for others, there is a lot of information you need to know before going down this road. Gene Guarino is a CFP, Founder of The Residential Assisted Living Academy, and is regarded as an expert in the residential senior housing space.  Gene has taught many investors how to profit from Residential Assisted Living while helping others at the same time.  Today he's going to share how you can participate as a real estate investor, business owner, or simply a passive investor in this fast growing field. Gene will also be one of our featured speakers at the RPOA's Annual Michigan Landlord & Real Estate Investor FREE Conference & Expo which is happening in Grand Rapids, Michigan from February 21 through 23, 2019.  This is the largest Landlord & Real Estate Investor Conference in the Midwest, and you can register for free at: https://rpoaonline.org/training-events-annual-conference-expo/ I know you're going to enjoy listening to my conversation with Gene.  Senior Assisted Housing is a fast growing investment opportunity that is, and will continue to be, very much in demand. Enjoy!

12 Nov 201847min