Is it possible to buy a house that no one else wants for $5,000 and then turn that house into a successful money maker?
My guest today, Larry Goins, says that not only is that possible, but you can earn more than the average investor makes on a house worth 10 to 20 times that amount. And he has real-life examples to back that up.
Larry has been investing in Real Estate for over twenty years, and has developed strategies that allow him to buy 10 to 15 properties per month without ever leaving his office.
Today Larry shares his "Filthy Rich" techniques using Seller Financing and Lease Options. Larry also gives examples of how he uses facebook, craigslist, and ebay to find leads and buyers.
You can also hear Larry speak live at the RPOA's Annual Real Estate Investor and Landlord Conference & Expo, which is happening in Grand Rapids, Michigan February 22-24, 2018.
This is an event you Don't Want to Miss!
You can register for FREE at www.rpoaonline.org
Chris McClatchey initially built his Real Estate Portfolio the Traditional Way - by using Bank Financing. But then it struck him; the majority of his cash flow was going back to the bank to pay off his mortgage. Not only that, but the first seven to fifteen years of mortgage payments were primarily paying off the interest on his loan rather than paying down the principal.
Chris knew that there had to be a better way, and that's when he came up with "The Power of Zero". By using seller financing with zero percent interest, Chris was able to outbid other investors by overpaying for the property, but he was still paying much less in interest over the duration of the loan.
Today, Chris shares "The Power of Zero" with us, and explains why its so important to listen to the seller to figure out what they really want, why the terms of the loan are much more important than the price you're willing to pay, the three elements to a great deal, and how to present an offer and understand the psychology of the seller.
And you don't want to miss Chris when he appears as a featured speaker at the 2018 Annual Real Estate Investor & Landlord FREE Conference & Expo, here in Grand Rapids, Michigan from February 22 thru 24.
You can go to www.rpoaonline.org to register for FREE!
Twenty years ago, Donna Bauer was making $1 an hour babysitting as a stay-at-home Mom. Then she learned about Buying Notes and made over $5,000 on her first deal. Since then, she's taught over 100,000 people how to profit from buying notes using her tried & true methods.
Today Donna shares with us why she prefers Seller-Financed Performing Notes, and how she profits from them without using any of her own money. We also compare the risks of buying Performing v.s. Non-Performing Notes and learn the best sources for finding Sellers.
Donna also discusses the Return On Investment she expects, and how you can accelerate and increase your profit by helping the buyer refinance the note.
Donna's experience and tactics can help you take your real estate investing to the next level. You can also be there when she speaks at the Michigan Landlord & Real Estate Investor FREE Conference, February 22-24 in Grand Rapids, Michigan.
Goto www.rpoaonline.org to register for FREE
Anytime we talk about Investing in Apartments and Multi-Family on this show, there is always a huge response from our listeners. So I know you're going to enjoy today's conversation with National Expert Anthony Chara, the President of Apartment Mentors out of the Greater Denver area.
Anthony has invested in over 1,700 units worth over $45 Million in value, and he's ready to share his experiences with our listeners. You're going to find out how his apartment investments weathered the great recession, how he finds and funds his opportunities, the types of due diligence he does on the property and the market, and why its so important to know whether the city & state is tenant or landlord friendly.
Anthony also shares the challenges he's faced when taking over a struggling property, the details of a completely vacant 96-unit he acquired for $311k, the seller who committed fraud by cooking his books, and his current market perspective and how its shaped by local cycles.
I know you're going to learn a lot from today's conversation. You'll also be able to see Anthony in person when he comes to Grand Rapids for the 2018 Michigan Landlord & Real Estate Investor FREE Conference and Expo, which is happening February 22-24, 2018.
You can register for FREE at www.rpoaonline.org
** My apologies to Jacques and Paul. When I uploaded their episode there was a technical issue that only allowed the first 20 minutes to be heard. Now that the issue has been fixed, you can enjoy the full episode! **
Not too long ago, Paul Leason and Jacques Cyr left the corporate world to become full-time real estate investors and real estate agents. Today they share their experiences with us, as well as the up's & down's they've encountered along the way.
We'll be talking about thieving contractors, renting to prostitutes, getting raided for corndogs (yes, we'll explain), red flags to look for when screening tenants, and watching your property go up in flames! Through all their challenges, Paul and Jacques have managed to find success by watching the numbers and following the data.
Jacques also explains the meaning of BRRRR (Buy, Rehab, Rent, Refi, Repeat) and how he's applied those methods in order to force appreciation on his investment properties.
Paul shares his experiences with the Grand Rapids Rental Rehab and "Get the Lead Out" programs, and how he's used them to pay for his rehabs.
I know you'll enjoy this episode. Both Paul & Jacques are Berkshire Hathaway Real Estate Agents, and work with all types of investors, including out-of-town buyers, to find rental property. You can contact them through email or their websites:
Jacques phone # 617-775-9352
Many Successful Real Estate Investors tend to have one thing in common; They've developed systems and processes that have exponentially increased their deal flow and ability to get deals done.
Today we explore that topic with Brittany Calloway, a real estate investor, consultant, and CEO of Top Notch Property Solutions. Brittany describes how she accidentally became a real estate investor while helping a family sell their distressed property.
Brittany quickly realized that in order to increase her acquisitions and deals, she could use technology that's already available to investors. Brittany shares her experiences with Virtual Assistants and outsourcing her tasks.
Brittany has also systematized how she raises Private Money, and has utilized Linkedin to net over $500,000 in investor funds. We'll also learn her favorite software application, as well as how she's managed to duplicate her business and move into New Markets.
This episode is a "must listen" for all serious investors. Brittany will also be a featured speaker at the Michigan Landlord & Real Estate Investor FREE Conference & Expo, which is happening February 22-24, 2018 in Grand Rapids, Michigan.
You can register for FREE at www.rpoaonline.org
Many Real Estate Investors have heard that they can save big money on taxes and increase the value of their retirement funds by investing in real estate using a Self-Directed IRA, but they still haven't taken the steps necessary to make it happen.
On today's episode we talk with Edwin Kelly, one of the nation's top experts on Self-Directed Retirement accounts to learn why they're such a great tool & vehicle for building legacy wealth. Edwin also share's his Triple-D, three-step process: DECIDE that you want one and set it up properly, DEPOSIT the money you'll need to work with, and DIRECT that money into the investment vehicle of your choice.
Edwin does a great job of simplifying the process in a way that might finally get you to take action. He also shares stories of his clients who have used SDIRA's to eliminate their credit card debt, shield their wholesaling income from earned income tax, and created thousands of dollars in monthly retirement income off of an initial $4,000 investment.
We also bring the conversation to a higher level when Edwin answers my questions about investing in syndications through SDIRA's and the consequences of UBIT and UDFI taxation on leveraged investments.
I know you'll get a lot of great, action-able information from this conversation. Edwin will also be a featured speaker at the RPOA's Annual Real Estate Investors FREE Conference and Expo, which is taking place February 22 - 24, 2018 in Grand Rapids, Michigan.
You can go to rpoaonline.org to register for FREE!
Today we are taking a deep dive into buying properties at Huge Discounts through Sheriff Sales and Tax Auctions.
My guest today is Stephen Benedict, an investor in the West Michigan/Muskegon area with over 120 units in his portfolio. Stephen knows all the in's & out's of buying properties at Sheriff Sales and Tax Auctions, and he has agreed to walk us through the process.
Stephen talks about his first Sheriff Sale property, how the process works, why you should buy the first mortgage and not the second, the best & worst deals he's done, mistakes he sees other investors make, and understanding the TRUE costs of acquiring and rehabbing a property.
Stephen will also explain the differences between Sheriff Sales and Tax Auctions, and how Tax Auctions changed with the advent of the Land Bank and money laundering rules.
Stephen makes it clear that Sheriff's Sales and Tax Auctions are a high risk type of investment, but if you do your proper due diligence the rewards can be extraordinary.
Enjoy the show, and please take a moment to give us a review and rating on itunes.
If you'd like to contact Stephen, his email is:
For the 100th Episode we decided to shake things up a little. Charlie Kao is back in the studio and turning the table on host Brian Hamrick, making him answer the questions this time.
Charlie gets Brian to discuss the new asset classes he been investing in this past year, including office, self-storage, and notes. They also discuss the different members of Brian's team, and what he looks for in successful partnerships.
Brian shares his outlook on the market and whether or not he believes there will be another real estate bubble, and how he's positioning his real estate assets to protect his portfolio in a downturn.
This is a fun and informative conversation marking our 100th episode. If you've been enjoying our show over the past two years, please let us know by giving us a rating and review on itunes.
At the age of 44, Hunter Carlile lost his corporate job and had to figure out how he would support his wife and three kids. That was over four years ago, and in that time Hunter has bought/sold or rented over 200 houses! And he's done it primarily through tax lien investing.
Today Hunter shares his tax lien and investing strategies. We'll talk about how he finds distressed properties, fixes them up, and either sells or holds as rentals. We'll also discuss the in's & out's of tax lien investing and the pitfalls investors need to be aware of.
Hunter also talks about his experiences using direct mail to find motivated sellers of distressed properties, why you should always avoid lender escrows for taxes and insurance, and how he relates to & works with home owners who find themselves in foreclosure.
Hunter has also developed software that tax lien investors can use to simplify the process, and he's a coach and trainer as well. You can find out more by going to his website or contacting him through email:
Enjoy the show!
When many of us think of Smart Home Technology we picture Amazon Alexa or Google Home turning our lights on and off or telling us the temperature and time. These devices can be fun and addictive, but how useful are they to real estate investors and rental property owners, and can they improve our profits?
Sean Miller is the President of Point Central, a provider of Enterprise-Scale Home Automation Solutions, and today he's going to tell us how Smart Home Technology is revolutionizing the way Rental Property Owners and Managers do business.
We'll discuss the true meaning of "Smart Home Technology", and how the Analytics and Real Time Property Intelligence can help monitor your systems and utility usage, as well as identify potential problems before they happen.
We'll also discuss the day-to-day practical uses of this technology, such as remotely controlling vendor and tenant access to your units, eliminating the need for keys and re-keying when a tenant moves out, lowering your utility bills, and adding security and video surveillance.
Smart Homes can also benefit your tenants and Airbnb guests. Units with this technology command higher rents and increase tenant retention. And best of all, owners and investors can see a Return-On-Investment upwards of 25% of the cost of installing these systems.
I know you're going to enjoy this fascinating conversation. You can learn more about Enterprise-Scale Home Automation Solutions by visiting the Point Central website:
Tyler Sheff has figured out a way to build wealth by solving other people's problems, mainly by helping them invest in Buy & Hold Real Estate in order to realize tax benefits that will help them keep more of their income.
Today we discuss the difference between ordinary income and capital gains, how Flips and Rehabs are taxed differently from Buy & Holds, and things you need to consider before leaving your job and eliminating earned income.
Tyler also shares his experiences investing in Airbnbs and non-performing notes, working with the police department to improve his acquisitions, and how he doubled the value of his first Multi-Family Investment in two years.
Tyler is also the host of "Cashflow Guys Podcast" and you can learn more about him at www.cashflowguys.com
Charlie Kao negotiated a Commercial Land Lease for one of his father's properties when he was only 25 years old. But it wasn't until he had a medical scare that he began taking real estate investing seriously and created a mission statement that would guide him as a "Lifestyle Investor".
Today Charlie shares the many types of investments he's succeeded with, as well as the big loss he took on one of his flips. Charlie discusses the lessons he learned from his father, why he likes to live in his flips, his airbnb experiences, tools he uses to enhance his efficiency, returns he strives for, and why he under-prices his rentals.
You'll also learn Charlie's personal reasons for working with certain non-profit organizations as a way to give back to refugee youths, as well as his future plans to invest in self-storage, and the unique criteria he's using that will lead to bigger profits.
I know you'll find this episode to be highly informative. Please take a moment to leave a review & rating on itunes.
Charlie can be contacted by email or phone:
Pat Sandro is one of the original House Hack Babies. The duplex that he grew up in was owned by his father, and the rent from the other unit helped pay for his diapers. From an early age, Pat was paying attention to the way his father invested in real estate and self-managed the 36 units he'd acquired. But it wasn't until after Pat became a physical therapist that he realized the true benefits of Real Estate Investing.
On today's episode, Pat shares the good times & the bad times. From the huge profits he made flipping condos in Florida before the crash, to the money he lost after 2009. Pat talks about the multi-family properties he's acquired, the land contracts that provide 'mailbox money', and the 'do-it-yourself' management style he learned from his father.
Pat also tells us about the vacant home he purchased and the horrific discovery in the basement. You'll also learn about Fair Housing Laws regarding Emotional Support Animals, and how Pat found himself in trouble when he unknowingly violated these rules.
This is an excellent conversation about the realities of owning and managing your own investment properties, and Pat doesn't hold back from sharing the good and the bad. Enjoy!
Get Ready to Get Scared by this Special Halloween Episode with Real Ghost Stories from the perspective of Rental Property Owners, Homeowners, and Tenants.
Whether you believe in Ghosts or not, sometimes strange and inexplicable things happen that make the hairs on the back of your neck stand up. Our guests today talk about the creaking doors, the footsteps, the feeling of being watched, and the sensation of seeing an apparition of someone long dead.
With stories from old and new guests: Ann Finkler, Gary Hall, Steve DeKoster, Brandon Krieg, John Potter, and Sue Dejonge.
I know you'll enjoy this episode and I'd appreciate it if you'd share that enjoyment by giving us a review and rating in itunes.
Sooner or later every investor must ask the question "Where can I get the money to do my next deal?" Today James Eerdmans from American Realty Property Management and Finance of America Mortgage will help answer that question.
James is a prolific investor who has bought and sold hundreds of properties in the past 20 years. He's also well versed in the different loan products available to home buyers and investors.
In this episode we'll discuss the standard types of loans available to home buyers such as FHA and VA, credit score requirements, Private Mortgage Insurance, and the amount of money you'll need to put down (anywhere from 0% to 25%).
We also discuss FHA 203k loans, which allow homeowners the opportunity to roll their rehab costs into the amount borrowed.
James also discusses the differences between Conventional, Commercial, and Private Lending, and how they apply to investors. You'll also learn how to protect yourself from having your loan 'called in' during the next downturn, the meaning of 'portfolio loan', the number of residential loans you can have, and the different ways banks value your property.
If you're unsure of the different loan options available for your investments, or are looking for updated information on the lending industry, I know you'll enjoy today's conversation. You can contact James by email or phone:
Todd Warstler learned he was losing his job while attending a Lou Brown Real Estate Seminar. The news couldn't have been better received, as Todd had already decided that he could make a better living using Lou's techniques.
Today Todd and I discuss the "Rent-to-Own" system that has helped him replace his job income, and how he's used this training to provide affordable housing to residents who were not able to acquire traditional financing. Todd took Lou Brown's lessons a step further by providing Credit Restoration Services that help his residents fix their credit report and improve their credit scores.
Todd also shares the returns he shoots for when working with investors, the contractor nightmare he encountered, ways to save money on rehabs, and his opinion on the 'Fix & Flip' Shows made popular on HGTV.
There's a lot of great information in this episode for every type of investor. If you'd like to get a hold of Todd, you can contact him by email, website or phone:
Ann Finkler describes herself as an Explorer, Entrepreneur, Investor, and High Risk Taker. Whether she's Buying an empty Industrial or Office Building, turning a Historic House into a Successful Bed & Breakfast, or Restoring Damaged Homes, she has learned to look at everything with a Creative Eye in order to find Profit and Cash Flow in areas other people would avoid.
Today on the show, Ann tells us how she looks for properties that she can fit businesses into, and how that led her to purchase an industrial building that was only 30% occupied. She also shares why she is cautious about taking on commercial debt and how she funds her deals using private money.
Ann also shares tips and advice on how to protect your home after a disaster, and why getting to know your insurance agent is so important. Ann also looks for strategic partnerships, and shares the qualities she likes to see in potential partners. You'll also learn how Ann was able to retire early, but changed her mind after the events of 9/11.
There's a lot of great experience and information packed into this conversation. Please take a moment to let us know how much you enjoy the show by going to itunes to subscribe, rate & review!
True Passive Income is the Holy Grail for most Real Estate Investors. However, its not always easy to separate ourselves from the Day-to-Day Realities of Investing and figure out ways to create a team, systems and processes that will free up more time and energy for other pursuits. In this episode we're going to discuss why a good plan violently executed today is better than a perfect plan executed next week.
Gary Hall is an Entrepreneur, Passive Income Strategist, and the Operations Manager of Westshore Property Management in Muskegon, Michigan. Gary's going to share concrete examples of the systems he's put in place throughout his career to create passive income while building his real estate portfolio.
We also go into detail on a low income 11 unit that he's turning into an Airbnb cash cow, as well as his first 'blind pool' syndication and the lessons he learned while raising over $400,000.
Gary also discusses the Financial Business he started while in College, Whether Dave Ramsay's advice applies to Commercial Investors, and his outlook on the West Michigan Market.
If you're serious about treating your Real Estate Investing as a Business, then I know you're going to get a lot out of this episode.
Gary's contact info:Gary@deanarrow.com
To share your True Life Ghost Story contact Brian Hamrick @ email@example.com
Today we take a Deeper Dive into the Un-Sexy, yet Extremely Important, details that can make or break your rental property investments:
- why you should always have an Attorney review your Contracts
- the importance of Title Companies when you buy a Property
- how to avoid Adverse Possession - the Hostile Takeover of your Property
- How you can Profit from having a Cell Tower on your Property
- How to avoid Land Contract Disasters
Brian Durham is a Real Estate Agent and Office Manager for Precision Real Estate. He's also finished law school and is in the process of taking the bar exam. Brian has a background in Telecommunications, business management, and tenant law.
In this episode, Brian shares how his first home presented a unique and lucrative profit potential when a large grocery store chain made him an offer he couldn't refuse, what happened when a house he sold on land contract burned down, and why he sees the strong housing market continuing for another two to three years.
I know you'll gain a lot of in-depth real estate knowledge from today's conversation. Please take a moment to go to itunes to give us a review & rating.
To contact Brian:
facebook: Precision Real Estate llc
And share your Real Life Ghost Story by emailing Brian Hamrick @ firstname.lastname@example.org
This episode is dedicated to anyone who's ever owned rental property and has had to decide whether they should self-manage or hire a professional 3rd party property management company.
James Loftus and Patrick Spitzley are back in the studio to discuss their experiences managing their rental properties and then handing over their babies to someone else to take care of them.
We discuss the pro's & con's of professional management v.s. self-managing, getting rid of intrusive and demanding tenants, and whether or not your bottom-line numbers will improve with professional management.
James and Patrick also discuss why they chose not to start their own management companies, the lifestyle they've created with their free time, and whether or not $50 for changing a toilet paper holder is too expensive.
I know you're going to enjoy our conversation. Stick around until the end to hear some bonus 'off-mic' content!
Whitney Nicely believes everyone should control their destiny by investing in real estate as soon and as much as possible. Today she joins me in the studio to talk about the many types of deals she's done, the techniques she's used, and the lessons she's learned along the way.
Whitney LOVES investing in Lease Options, and she tells some great stories of the money she's made, and the headaches she's encountered.
You'll also learn the three profit points Whitney focuses on when doing a lease option: The non-refundable lease fee, monthly cash flow, and profit at sale.
Whitney also buys vacant land at auctions and tells the story of two purchases that had surprisingly lucrative outcomes. You'll also find out how she and her boyfriend (now husband) were able to purchase their apartment units with no money down.
This is a fun, informational episode that I know you're going to enjoy.
You can contact Whitney through her facebook page by going to:
In this red-hot real estate market you need every possible edge to separate yourself from all of the other buyers and investors you're competing with. There are also tricks and tips sellers need to be aware of to get the best price for their property.
Today Joshua Schaub from Icon Realty Group is back in the studio to share up-to-date actionable techniques for buyers, sellers and investors that will give you the edge in today's real estate market.
Joshua has 7 tips for buyers that will help them get more offers accepted, 5 tips for sellers that will help them price and market their home effectively, and real-life stories from the trenches that every investor can learn from.
We discuss the vacant land he purchased where his development plans were literally 'sunk', why buyers should do a final walk-through before closing, and how he helped sell a house that hadn't received any offers for more money than the seller had been asking through a previous broker.
There's a lot of fantastic information packed into this episode. I'm also thrilled to welcome Icon Realty Group as the newest sponsor for this show. You can contact Joshua and Icon Realty Group by phone or website:
Bill and Jackie Howson have achieved what many Real Estate Investors dream of - They've built a 57 Unit portfolio, weathered the loss of his job, and achieved financial security through Real Estate Investing. But best of all, they've done it together.
Today we discuss how their unique talents and skills compliment each other, and share some funny stories of the arguments they've had along the way. Bill is the researcher and constant learner, who enjoys the due diligence and acquisition phase. Jackie is the designer and rehabber, who has earned her respect in a male-dominated industry.
Bill and Jackie also share their management philosophies, and tell why they no longer accept residents who have evictions in their past. They also talk language differences, and how they've had to learn the American meaning of 'yard', 'electrical socket', 'tub', and 'faucet'.
I know you'll enjoy this fun and informative conversation. Please take a moment to go to itunes to give us a 5 star rating and review!