The Good, The Bad, and The Ugly: Sometimes we come across deals that are too good to be true but we suspend our better judgement because the person selling those deals is so persuasive and says all the right things.
Steve Whitteberry is our guest today. Steve is a successful real estate investor who will share his stories of making investments and working with certain investors that he later came to regret. Steve will share the valuable lessons he learned from these experiences that will hopefully prevent you from making the same mistakes.
In part one of our interview we will also discuss Robert Allen's 'No Money Down', the value of land, and helping people who are going through the foreclosure process.
Many experienced investors can share this story: the one about the deal they chased for months or years, spent countless hours and phone calls and emails and money on, invested all their energy and emotion into, and no matter how hard they tried, it just wouldn't close, it couldn't close, and eventually they had to admit defeat and walk away.
Dealing with these types of setbacks can be devastating. But learning to overcome them can be life changing.
Today we discuss what happens when 'failure is not an option' turns into 'failure is inevitable' with Keith Littlepage, a successful investor and business owner who is brave enough to share his story of the Florida land deal that almost broke him and the aftermath that no one could have expected.
Keith will also discuss his use of private money, and an unlikely funding source he's discovered that has been a 'game changer' for him.
To Contact Keith go to blueskiesfunding.com
Last week Ken Jenkins shared with us how he used direct marketing to find, negotiate and purchase an 8-unit multi-family and duplex in Plymouth, Michigan.
Today Ken & I discuss the 20-unit multi-family he was able to acquire in Belleville, Michigan when he discovered it through a Craigslist add.
Ken will take us through his negotiations with the seller who insisted on an all-cash purchase, and what happened when he was faced with multiple vacancies and had to fire his management company.
Once again Ken takes the time to share his methods, numbers, and every gritty detail - including stories of death, drugs and doing whatever it takes to be successful!
Discovering Off-Market Real Estate opportunities that cash flow and offer great upside potential is like finding the Holy Grail for Real Estate Investors. Today I talk with someone who's managed to do this twice since he began three years ago.
Ken Jenkins is an investor from the Plymouth/Canton area just outside of Detroit, Michigan, and he has had great success in finding multi-unit properties through direct marketing, negotiating for the best deal possible, and creating value by improving the property and raising rents.
We will discuss how he began as an investor, then he will take us step-by-step through his process of finding, negotiating and asset managing an 8-unit and duplex in Plymouth, Michigan. Be ready to take notes, because Ken will be delivering you a master class in Real Estate Investing!
We'll be discussing forced-air systems, hot water heat and air conditioning choices as well as energy saving tips and techniques that will save you money and help you avoid possible disaster.
Interview with Angela Hovermale from Banner Drywall
Patrick Spitzley Interview:
We've all seen those shows on HGTV where investors buy a house out of foreclosure or auction, fix it up, flip it, and make a killing. It all looks so sexy glamorous and fun. But is it really like that in real life?
Today I talk with someone who does rehabs & flips for real. Patrick Spitzley is the owner of the Spitzley group. He buys the worst of the worst and goes in with his crew to 'bulletproof' the home by completely rehabbing it top to bottom. We're going to talk about his philosophy on flipping, rehabbing, building spec homes, private money, and his recent trip to Nigeria and what he learned there that will help him in his investing going forward.
If you own, or are about to invest in rental property, then you need to have a good insurance agent on your team. Today I sit down to talk with Mike Murphy from J.B. Harrison Insurance Agency (http://www.jbhins.com/)
During our conversation we talk about the different types of insurance and coverage, what investors need to consider for their insurance policies, common mistakes investors make in choosing insurance, and how to find the best agent for your team.
No two insurance policies are the same, and this episode will help you make sure you have the right coverage at the best price.
James Loftus is a buy & hold investor who has been around long enough to have experienced the ups and downs of real estate investing. he not only weathered the great recession, he came out stronger and wiser because of it.
Today we sit down to talk about James' investing and property management techniques, his recent decision to switch some of his properties over to a professional management company, and the course he teaches for the RPOA on housing codes, rental inspections and property maintenance.
Whether you're a new investor who is wondering how to start your buy and hold portfolio, or a seasoned pro looking for tips on how to manage your property and get higher rents, you're going to enjoy my interview with Rob Minch.
Today Rob will share his journey with us from owning his own mortgage company to becoming a full-time buy & hold rental property owner. Rob will tell us how he built his portfolio, share his story about the flip that went wrong, and disclose techniques he uses to find the best tenants and get the highest rents possible.
(tags: Buy and Hold, Flipping, Rehabbing, Property Management, Getting high rents)
Historic Districts seem to be a hot button issue lately across the country. There are several states where legislation is being proposed that would effectively weaken or eliminate historic districts. Michigan is one of those states.
Investors will often find that owning rental property in a historic district can be a more expensive proposition, and getting approval for changes to the exterior of their property can be a time-consuming process as well.
But do the benefits outweigh the costs of owning property in a a historic district?
Today I talk with Suzanne Schulz, the Planning Director for the city of Grand Rapids, to discuss this question. We'll also learn more about historic districts, their purpose, and the proposed legislation in Michigan that could end them all together.
(tags: Historic District Modernization Act, Michigan, Property Rights, Rental Property)
Kathy Dennison Adrianse Interview: Kathy is the owner & broker of Lighthouse Property Management, a West Michigan startup company that has been in business for thirteen years.
Kathy has a passion for buying and selling real estate, and lately that passion has led her to a new market in West Michigan.
Today we will reveal that market and discuss the types of rental properties Kathy owns, her use of private money, and her philosophy on finding and maintaining success in real estate investing.
(tags: Apartment Investing, Commercial Office, Multi Family, Buy & Hold, Grand Rapids, Muskegan, Lansing, Michigan)
Clay Powell Interview: If you've been listening to this podcast then you know that there is a lot of experience and expertise in the RPOA community. What you may not know though, is what the RPOA is all about and how it can benefit you.
The Rental Property Owners Association does provide education, networking, tools, services and a great value for rental property owners and real estate investors. Today I sit down with Clay Powell to discuss how the RPOA can help you become a more confident and successful owner and investor.
Russ VandenToorn Interview: Russ is the owner of United Properties of West Michigan, a full service property management company in the Grand Rapids area. Russ teaches the course on APODs (Annual Property Operating Data) in which he helps potential investors learn to run their numbers, understand the true costs of investing in rental property, and ultimately negotiate a better price and deal on their real estate investment.
Tom Koetsier Interview: Tom is an award winning broker with Compass Realty Services and teaches two popular courses for the RPOA: Buying and Selling Rental Property and Successfully Appealing Your Property Tax Assessment.
Tom also sits on the Grand Rapids Planning Commission and is a successful real estate investor as well.
Justin Workman Interview: On the surface Justin Workman seems to be a rehabber, flipper, and buy & hold investor. But in reality he’s employing some very creative investing strategies that have allowed him to transition from a job to full-time real estate investor/owner.
Five years ago Justin and his wife lost everything in a devastating fire. Today you’ll find out how he was able to bounce back stronger and smarter than ever.
Emma Persons Interview: Today I sit down to talk with Emma Persons. Emma is a property manager with Qwest Property Management in Grand Rapids, Michigan. Emma is an expert in marketing and screening for good tenants, and managing your risk as a rental property owner.
Emma will share many of her tips for working with tenants, as well as incredible stories of her experiences managing some unbelievably difficult properties.
To inaugurate this podcast, I thought I'd take a few minutes to share the types of investing I do, and the strategies I employ. I'll also talk about my transition from a career of 20 years in an entirely different field to becoming a full-time real estate investor and syndicator.