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

By the time you listen to this episode, Justin Richards and Aaron Lenartz will have closed on a 144-unit Class C Apartment Building in Memphis Tennessee.  And they'll have raised $1.3 Million from investors to do so.  I thought it would be interesting to sit down & talk with them about what they went through to find, inspect, and acquire this property while its fresh in their minds. What you're about to hear is the nuts & bolts process from two investors and syndicators who have learned a great deal from the experience of closing their first large apartment syndication.  We'll talk about the importance of broker relationships, Best & Final offers, what it means to be a lifestyle investor, working with attorneys, and securing a bridge loan to complete necessary repairs. You'll also learn how Justin and Aaron were able to be taken seriously as investors even though they'd never closed a deal this large.  They also share the process they went through to raise $1.3 Million from qualified investors, as well as the amount of their own money they had to put up along the way. Justin and Aaron host a meetup group every third Wednesday of the month at the Buffalo Wild Wings in Wyoming, MI on 44th Street.  Their next meetup is this Wednesday, September 19th, 2018 at 5:45.  You can find out more information by going to https://www.meetup.com/Think-Multifamily-Real-Estate-Investing/events/253982654/ And you can contact Justin and Aaron through their website: https://www.greysoncapitalgroup.com/ Enjoy!

17 Sep 20181h 21min

Like many of us, Daniel Breslin started investing in real estate after reading "Rich Dad, Poor Dad".  The only difference is that he read it while serving time in prison. Daniel was able to scrape together $5,000 to do his first deal, and 12 years later he's now the Founder & President of Diamond Equity Investments, a real estate investment company specializing in Fix & Flips and Wholesaling. Daniel talks about the first deal he did after getting out of jail and how it changed his life, his philosophy on the Velocity of Money and how he likes to get in & out of a deal as quickly as possible, how he funds his deals and vets his partners, techniques on negotiating for the best sales price, tips on marketing to find good leads, and the historical biographies that inspire him. Theres a lot of great info packed into this episode that I know you're going to enjoy.  Daniel is also the author of the book "Become a Wholesale Real Estate Master: Buy & Sell Houses With No Money Down" and he can be contacted through his website:  www.REIDiamonds.com

10 Sep 201850min

Gino Barbaro is an experienced investor in multifamily and apartments with over 900 units under his control, and he's built that portfolio without syndicating through his Refi & Roll strategy. Today Gino is going to share his unique perspective with us on many areas of investing and life skills:  multi-faceted multifamily and creating multiple streams of income, how Life Coaching helped get him to where he wanted to be, the challenges he faced in building his portfolio, and the partnership that accelerated his success. Gino is also the co-host of the "Jake & Gino Wheelbarrow Profits Podcast", and the co-author of "Wheelbarrow Profits:  How to Create Passive Income, Build Wealth, and Take Control of your Destiny Through Multifamily Real Estate Investing". Gino is a super successful and motivated investor with a lot of experience and helpful techniques.  I know you're going to enjoy this conversation as much as I did. You can contact Gino through email or his website: Gino@jakeandgino.com https://jakeandgino.com/

3 Sep 201844min

Five years ago I transitioned from being a full-time employee investing in Real Estate on the side, to being a full-time Real Estate Investor and Syndicator.  My greatest consideration before doing so was finding Affordable Health Care coverage for myself and my family. Any investor who has dreamed of quitting their job and investing in Real Estate full time must consider this.  Health care costs can be one of the largest line item expenses for any business.  But understanding your options and plans available can be confusing and frustrating. So I thought it would be helpful to bring in my health insurance broker, Chad Creasey from RCB & Associates, to break it all down for us:  What options are available to real estate investors, what are the pitfalls of choosing your own insurance, how to project whether you'll qualify for Obamacare subsidies, and who you can turn to for help. Open enrollment season is also coming up starting November 1st and running through December 15th.  If you're going through a change in employment and need advice on finding your own health insurance, then you definitely need to have someone like Chad on your team.  Best of all, when you go through an agent or broker for health insurance, there is no additional cost to you. I'd also like to welcome Chad and RCB & Associates as new sponsors to this show.  They're a strong supporter of the RPOA and I've been benefiting from Chad's advice for the past five years. Chad can be reached by cell, email, or his website: 616-822-9286 ccreasey@rcbassociatesllc.com https://www.rcbassociatesllc.com/

27 Aug 201835min

In today's tight housing market, landlords can be much more selective in who they rent their properties to.  Because of this, there are certain groups of tenants that are finding it more and more difficult to find affordable housing. Today we're going to talk about one of these groups and the efforts by the state and West Michigan community to help them. We're going to take a look at Returning Citizens, those who have been incarcerated, served their time, and are looking to re-enter society and find stable housing - which is an important part of preventing recidivism.   This episode will definitely be of interest to landlords who are willing to consider the benefits of renting to returning citizens, as well as anyone interested in understanding the difficulty they face in finding a place to live. This is a round-table discussion, and we've gathered a great group of guests to share their perspectives: Angie Sprank is the Community Coordinator for Region 4 Offender Success Program and helps returning citizens remain successful in their transition back to society.  Shellie Cole-Mickens is the Founder and Director of House of Blessings, providing housing and support for women with mental health and substance abuse challenges as well as extensive criminal histories.  She is also a returned citizen since 1996. JoNathan Martin is a returned citizen since 2015, and works closely with other returning citizens to offer them support and guidance. Ruth Walters is an officer with the Grand Rapids Police Department and runs a program called "CLEAR" for returning citizens to assist them in staying in the community. For more information on the Offender Success Program in the West Michigan area you can contact Angie Sprank at: spranka@michigan.gov 616-902-5994 For those outside of Michigan, you can contact your state's Department of Corrections.

20 Aug 201848min

Despite the higher turnover and maintenance costs, as well as the additional tenant headaches, investing in C & D rental properties can be more lucrative if you have a plan and know what you're doing. Dan Essink owns and invests in Lower Income properties in the Muskegon, Michigan area.  He also manages them through his company, DICE Property Management.  Today, Dan is going to share his experiences and perspective with us:  How he got started by house-hacking his first duplex, the true cost of evictions and how he manages to avoid losing additional money on turnovers, and setting your boundaries with residents so they don't consume all of your time and effort. Dan also talks about the property he's buying on Land contract through both his Self-Directed IRA (SDIRA) and his Health Savings Account (HSA) with only $15,000 down. We'll also learn Dan's conservative thought process when it comes to investing in 401k's, running APODs, and understanding Amortization Tables and loan terms. Dan shares a lot of great info in this episode that I know you're going to appreciate.  Please take a moment to give us a rating and review on itunes. Enjoy!

13 Aug 201851min

Recently I received the following email from RPOA member and podcast listener Maureen Weick: I have 1.5 acres of vacant land in northern Allegan County. I have been trying to decide what to do with it and would love to hear some opinions. These are my questions/thoughts - 1) Do I just sell outright as vacant land? ---Not a fan of this one - I will have capital gains to pay, unless I can manage the sale under a 1031 Exchange 2) Should I put a used double wide trailer there (this is rural lot) and rent it out? If I did that, should I put on a slab or a full basement? 3) Should I build a small home there and rent it out? Again, basement or slab? I hear it is quite expensive to build right now --but will that ever get any better.....? If this was your property what would you do? In order to answer these questions I asked Justin Workman to sit down with us and go over Maureen's options.  What followed was a lively discussion about 1031 Exchanges, building spec homes, buying mobile homes, and other possible options that will be of interest to any real estate investor. Enjoy the show.  If you have a question you'd like us to consider for the podcast, please send me an email:  brian@higinvestor.com

6 Aug 201844min

Mark Podolsky began investing in Raw Land with only $3,000.  Seventeen years later, he's completed over 5,200 land deals with an average Return-on-Investment of 300%.  Today Mark is going to share his Raw Land Investing techniques, and how he teaches other to make huge returns without putting any of their own money at risk. Mark is the owner of Frontier Properties, a very successful and reputable land investing company.  He's also the host of several podcasts, including "The Art of Passive Income Podcast".  And he's the author of the recently released book "Dirt Rich: How One Ambitiously Lazy Geek Created Passive Income in Real Estate Without Renters, Renovations, and Rehabs". Mark will share why you don't need money to get started investing in Raw Land, how he's able to do all of his due diligence on his computer, the ways he's systematized his business, and how he's confronted his fear of death. There's a lot of great info in this episode, and you can learn more about Mark and investing in raw land by going to his website:  www.thelandgeek.com Also, if you send an email to support@thelandgeek.com and mention this podcast, Mark will send you a free Passive Income Launch Kit.

30 Juli 201841min