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.
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.
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.
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:
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.
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!