Revolutionizing Luxury Real Estate and Short-Term Rentals with Stephen Petasky

Josh Sterling is a Buy & Hold Real Estate Investor from South-East Michigan.  He began buying Single Families in 2009, and since then has grown his SFH, Multi-Family and Apartment portfolio from 1 to 160 units. Today, in Part 1 of my interview with Josh, we discuss his trajectory from a novice investor and landlord making a lot of mistakes, to a seasoned professional who owns 160 units as well as his own management company called Epic Property Management. http://epicpropertymanagement.com/ Josh is happy to share his experiences and stories about learning how to evict tenants, rehabbing properties, raising investor money and overcoming the plateaus on his path from 1 to 160 units.  No matter what level of investor you are, you'll definitely find a lot of great wisdom in my conversation with Josh.

29 Aug 201658min

One of the tools that I use as an investor in multi-family and commercial apartment real estate is my subscription to CoStar.  This is an online tool that allows me access to information about properties I would have a difficult time finding elsewhere.  When it comes to researching off-market opportunities, CoStar gives me an edge that has been very helpful over the past five years. Today I talk with Grant Webster, the client relationship manager for CoStar Group in the West Michigan region.  CoStar Group also owns LoopNet and Apartments.com, and I've subscribed to those services as well.  Grant and I discuss how these subscription services can help investors research investment properties, gather information that's not readily available, and market their existing units to a targeted market. If you've ever thought about subscribing to these services, or wondered what benefits they might have for you as an investor, then this episode is one you'll want to hear.

22 Aug 201627min

I firmly believe that one of the best ways to get into real estate investing in order to create your own financial freedom is to purchase a multi-family property and live in one of the units.  This is called House Hacking, and its a fantastic way to build wealth while reducing your expenses by having your tenants pay your mortgage. Today I'm excited to take this concept to the next level with Kevin Murphy, who just completed his first House Hack.  The exciting part is that he discovered a little known way to finance the purchase and rehab costs using a HUD 203K loan in which he put down less than $4,000 for the purchase and rehab. Now Kevin's tenants are paying his mortgage and utility costs, he is living 'rent free', and pocketing several hundred dollars a month!  Not bad for a recent college grad! Today, Kevin walks us through the entire process:  His search for the right property, how he learned about this loan, and the challenges he faced making it come together. If you'd like to learn more about Kevin and his business, you can visit his website at: www.KCorey.com

15 Aug 201648min

Whether you're just beginning your Real Estate Investing Career, or you've been doing it for a while, I know you'll enjoy my interview today with Courtney Sorrell.  Courtney and her husband became Reluctant Landlords when they had to leave their new house in Portland, Oregon and move across the country to find jobs during the Great Recession.  We'll discuss the lessons she learned during this period and how Courtney is investing in Real Estate to provide for her retirement. Courtney & her husband are "House Hacking" their way to financial freedom, and we'll talk about their search for Multi-Family property, and how a duplex she recently purchased didn't turn out quite the way she planned. Courtney also talks about the 'Millennial' generation and her outlook on retirement, investing and self-sufficiency.

8 Aug 201643min

Today's episode is going to expand your financial IQ in ways that will help you make more money from your real estate investing. Many of us get so caught up in finding, buying and managing our properties, that we don't pay enough consideration to what happens next.  Every investor needs to have their exit strategy in mind in order to maximize the money we get to keep when we sell. Today's guest is Mark Andresky, and he is a Certified Exit Planner and Certified Business Intermediary with Performance Business Advisors, LLC.  Mark also teaches the "Exit Strategies" course for the RPOA. During our conversation Mark discusses how exit planning can work to avoid surprises when you sell, specifically when it comes to taxes on your profit.  Mark & I also discuss depreciation recapture, which is something you definitely want to be prepared for when you sell.  Other topics of discussion include leverage & risk, entity selection, tax-deferred savings plans, estate planning & leaving a legacy. Enjoy & Learn!

1 Aug 201641min

Today I talk with Kim Post from Post & Associates Appraisals and Next Door Properties, LLC.  Kim shares stories from her 30 + years of investing in rental property. We talk about her transition from being a full-time teacher to following her passion for construction, real estate & rental property.  Kim prefers to buy her investment property using Land Contracts &/or Seller Financing, and explains how she's able to make that work. We also discuss her recent Off-Market acquisition of 29 multi-units and the challenges she's faced in Rehabbing, Improving, and Managing a property with residents who would never have passed her screening criteria, including some with criminal backgrounds. Enjoy & Learn!

25 Juli 20161h 13min

I know you're going to enjoy my interview today with David Kirchgessner.  Dave is a successful investor and realtor, who also happens to be the lead singer of the popular ska punk band Mustard Plug.  It's Mustard Plug's song "Mr. Smiley" that you hear at the beginning & end of every podcast episode. Dave shares with us how he's been able to create and support his lifestyle through real estate investing, which he realized in his early 20's was the only way he'd be able to support himself while he pursued his music career. Dave also talks about the investments in Single Family and Two Family homes he's made and shares details on purchasing, rehabbing and managing them.  We also discuss a building development that Dave bought with some friends that didn't go as planned, and a new investment in Northern Michigan that he almost bought sight unseen. Dave is also a realtor with Greenridge Realty, and will give us his perspective on the current market and the trends he's seeing as a real estate 'insider'. You can contact Dave through his email at: davidkirchgessner@gmail.com

18 Juli 20161h 12min

Two episodes ago Brandon Krieg from Honeybee Homes shared his tips and techniques on Wholesaling for huge profits.  If you haven't heard that episode yet, I highly recommend you give it a listen. This week Brandon has returned to discuss his Fix & Flip secrets to success.  He'll talk about what type of property he looks for, how he runs his numbers, and share stories of deals that were highly profitable and a few that weren't. We also talk about Brandon's involvement with the West Michigan REI, as well as the Rental Property Owner's Association. You can contact Brandon through his website at: http://thehoneybeehomes.com/

11 Juli 201638min