When it comes to Real Estate Investing, Marty Green has had a wild ride. He made millions of dollars Rehabbing and Flipping Houses, and then lost it all during the Great Recession. After licking his wounds for about a week, he decided to start his own property management company, and in the process has flipped the traditional property management style upside down.
Today Marty discusses how he took everything he dislikes about traditional property management and created a company that does things very differently. Marty discusses the philosophy and strategies that align his companies' goals and profit with those of the owners they manage for.
Marty also shares some colorful stories of his early days managing rough properties and the confrontations he's had with past tenants. He also shares the story of how he was recruited by the Grand Rapids Vice Squad to become an undercover informant in order to rid his properties of criminal characters.
We're also thrilled that Marty's company, Green Property Management, will now be an official sponsor of this podcast! You can get in touch with Marty, or Green Property Management by website, phone, or email:
Because you Demanded it! Justin Workman & Rob Minch are back in the studio today to answer more questions from our listeners:
How much money should you set aside for maintenance & capital expenses?
What repairs should you know how to do yourself v.s. what should you hire someone to do?
How do you avoid evictions?
Who do you need on your team to make the lender happy?
Resources for improving your Negotiation Skills.
How do you quit your job and live of of rents?
Justin, Rob & Brian also discuss the signs they're seeing in the marketplace and economy that are affecting their decisions & investments.
Enjoy the show!
In 2012 Lonnie Shields and his wife were driving down the Beltline when their lives changed forever in an auto accident. Today Lonnie & I talk about that accident, and the role real estate investing has played on their road to recovery.
Lonnie shares his thought process in determining to sell off his small Multifamilies in Grand Rapids and invest in Single-Family Homes in a new, less expensive market. We discuss the 1031 exchange he's currently doing by selling a 5-unit and purchasing 8 to 10 Single Families in Muskegon, Michigan.
We also talk about Self-Directed IRA's, and how Lonnie prefers using his SDIRA as a way to invest in two SFHs instead of the stock market, where he was losing money every year. Lonnie also talks about reconciling his Christian faith with the realities of being an investor and landlord, and the effect it has on his trust in sellers, contractors and tenants.
Lonnie is also a big believer in the benefits of being an RPOA member. If you'd like to learn more about the RPOA, go to www.rpoaonline.org And please be sure to give this podcast a review & rating on itunes.
Benjamin Mcclellan grew up with eight brothers & sisters, few material possessions, and even less money. Many of his meals consisted of rice, beans, and popcorn. But his parents instilled in him a strong work ethic and a lifelong passion for learning.
That passion has led Benjamin to invest in 14 Buy & Hold Rentals, as well as 3 Flips in the Grand Rapids area. He's also done what I'd call "Extreme House Hacking" by buying foreclosed properties with no running water, gas or heat, and living there while he does the rehab. This strategy has led to interesting encounters with homeless squatters, thieving neighbors, and frozen pipes, but its also set Benjamin on the path to financial independence.
Benjamin also has a knack for creating relationships with sellers and note holders that has helped him acquire his properties for very little money down with unique deal structures. He shares the nuts and bolts of those deals in today's conversation.
If you want to know what it takes to start with very little and build it into a strong portfolio of real estate assets, then I know you're going to enjoy today's conversation.
Should you be forced to allow residents to smoke medical marijuana in your properties? Are you concerned about Rent Control Laws affecting your bottom line? Who should pay the cost of getting rid of Bed Bugs? Is it your responsibility to make sure your residents are registered to vote?
Who is helping to shape the legislation that answers these questions?
The Rental Property Owners Association ("RPOA") is, that's who.
And today, we talk with Clay Powell, the Director of the RPOA, about a little understood, yet vital function of the RPOA, which is to work with local and state legislators to prevent laws that could make owning rental property more expensive and cumbersome for Landlords and Investors.
Clay and I discuss recent successes in preventing mandated inspections for Lead Paint, requiring landlords to register their residents to vote, expensive requirements for new smoke detector technology, and many other issues that affect our bottom line.
The RPOA is protecting your rights as a Landlord and Investor, whether you're a member or not. You can help out by becoming a member:
You can also contribute to the Political Action Committee ("PAC") by calling 616-454-3385 with your donation.
Enjoy the show!
A year ago Cameron & Emily Walker, in their own words, 'knew nothing' about buying rental property and real estate investing.
Cut to today's conversation where they share how they came across the concept of House Hacking, located & purchased a duplex, and are now living in one unit and using the rent from the other unit to pay their bills.
It wasn't an easy learning experience, and Cameron & Emily are going to tell us how they raised money for their down payment from their wedding registry, evicted their tenant while on their honeymoon, and how they're using their extra house hacking income to pay off their student loans.
We also debate whether or not they should pay off their Private Mortgage Insurance (PMI) immediately, or apply those payments to their next house hack.
I know you'll enjoy today's episode. Cameron & Emily never thought they'd be home owners so soon, let alone rental property owners. If you're already an investor this conversation will remind you what it was like when you began. If you're not yet an investor, this episode will inspire you to get started!
And if you like what you hear, do me a favor and go to to itunes to give us a review & rating.
As a syndicator in large apartment investments, I've certainly spent a lot of time and effort raising money from private investors.
"Magnetic Capital: How to Raise All the Money You Need for ANY Worthy Venture" is a book that I wish I'd had when I was just starting out.
Victor J. Menasce, the author, joins me today to share the secrets he's learned about raising Other People's Money. We'll discuss the five fundamental elements to raising money: Relationship, Trust, Results, Compelling Opportunity, and Allignment, and how they apply to Real Estate Opportunities.
Victor will also provide insight into the Psychology of raising money, how to avoid being 'creepy', The Art of the Pitch, Rookie Mistakes to Avoid, and whether or not you need a business plan.
Victor has also appeared on "Dragon's Den", which is the Canadian equivalent of "Shark Tank", and he'll share that interesting experience with us.
You can purchase "Magnetic Capital" by going to Victor's website:
There's a lot of great actionable content in today's episode that I know you'll enjoy. One action you can take right now is to give us a review & rating on itunes!
Brad Tacia and Mark Yuschak both come from a successful background in the corporate world, and they've each had their share of real estate success. So it made a lot of sense for them to partner up, and doing so has had enormous benefits.
Today Brad and Mark discuss the two deals they've done together - a 23 unit community in Fowlerville, and a 63 unit Senior Housing Property in Lansing, Michigan.
We'll discuss how they found these deals, the negotiations they had with the sellers, and the efficiencies they were able to bring that provided a huge upside in their Net Operating Income. We also discuss a busted condo community that Brad purchased during the recession, and how Brad and Mark analyze their deals.
Brad and Mark are also laying the groundwork for their first syndication, and we discuss the type of deal they're looking for, the types of returns they hope to project, and how they share their information with potential investors.
I know you'll enjoy this show. Please go to itunes to subscribe, rate & review!
You can get in touch with Brad and Mark through email & facebook:
facebook: Apartment Investors of Michigan
I first met today's guest, Jordan Anderson, at a Multi-Family Bootcamp several years ago when he had just purchased two-four units in Philadelphia.
Today we discuss what Jordan learned at that bootcamp about multi-family, his successful flipping business, and a triplex he purchased recently with vacant commercial space.
Jordan also shares what happens when you don't listen to your mentor, the contractor who took advantage of him, and the out-of-town investors who might be overpaying in the Philadelphia market.
We also talk about the mindset difference between flipping and multi-family, nurturing relationships with prospective sellers, and using private money.
There's a lot of great information in this episode that I know you'll enjoy. Please take a moment to give us a review & rating on itunes.
For the first time ever on the podcast we answer questions posed by our listeners.
I've invited Rob Minch and Justin Workman back into the studio to help me answer many important questions...
"Should I pay $25,000 for Coaching and Training?"
"I hired a new property management company and my occupancy dropped to 83%. Did I make a mistake?"
"Should I do a cash-out refinance and pull out over $200,000, or is setting up a line-of-credit a better option?"
We answer these questions and more, including the podcasts, books, and people that inspire and educate us. This is an episode you don't want to miss!
If you have questions you'd like to have considered for a future episode, please give us a rating and review on itunes, then email me at firstname.lastname@example.org
In the span of three years, Mike Cowper has grown his wholesaling business to become one of the largest in the Eastern Michigan Tri-State area. Mike and his partner do 20 deals a month by marketing to homeowner/sellers and assigning the contracts to investors of all specialties.
Mike did not achieve this success by accident, and he's happy to share how he systematically and deliberately went about building his multi-million dollar business. From defining his team and their duties, to instituting systems and processes, and creating a killer website that is addictive and fun.
Mike and I also discuss the mastermind group he joined that was instrumental in his growth, how solving other people's problems is a key component of his success, and why you can't always believe what the wholesaling gurus tell you.
Mike's contact info:
Whether you love or hate those HGTV shows on Rehabbing and Flipping, you're going to really enjoy today's conversation.
Ramon Huerta and Jeremy Cole host a 'Property Krawl' every month in Kalamazoo, Michigan, where they invite all levels of investors to accompany them on a tour of properties that are ripe for rehabbing, flipping, and buy & hold investing.
Ramon is a realtor/investor, and he chooses the homes to view, while Jeremy uses his contractor skills to help others understand the costs involved in rehabbing the properties. Together, they strive to help beginning investors understand the complexities of acquiring, rehabbing, and owning rental property, while sharing creative strategies with the more experienced investors who also join in.
We also discuss the economic dynamics of Kalamazoo, a city where you can still buy houses for under $10,000.
I highly recommend visiting the facebook page for 'Property Krawl', where you can see videos and photos of the events. You should also take a moment to go to itunes where you can rate and review this podcast!
Joe Delia is the Lead Agent & Owner of The Delia Group, a Keller Williams agency ranked in the top 10 in the state of Michigan with over $65 million in sales last year.
Joe comes from an entrepreneurial background that helped him thrive during the Great Recession. Joe shares his many adventures in real estate; His experience with Trump University, Flipping & Rehabbing homes in Las Vegas & Phoenix, the frustrations of high-end flips, and the reasons why he avoids cheaper properties in 'D' neighborhoods.
Joe's wife, Renee, is a Six-Sigma Blackbelt, and he discusses how she was able to bring operations & lean processes to The Delia Group that helped them land a huge corporate account with Quicken Loans and complete over $65 Million in transactions in 2016.
If you're struggling with building your team and finding 'A' players, then you'll benefit greatly from this episode. Joe describes the process he uses to find, hire & promote the best talent and build the strongest team possible.
You can contact Joe through his email at: email@example.com
I'd also like you to take a moment and give this podcast a rating & review on itunes.
The RPOA's House Hacking Expert Panel from the Annual Conference was so popular that we decided to record it and make it into a podcast episode.
If you've ever wondered what House Hacking is all about, or why it makes sense, this is the episode you don't want to miss. Our expert panel will talk you through every step: how to find the right property, how to secure financing & renovation loans, and how to find the right tenants.
Courtney Sorrell & her husband completed their first house hack last year. Courtney is the Assistant Director of Annual Giving at Davenport University and is the founder of Pika Properties.
Courtney was also a guest on the podcast – episode #30
Kevin Murphy also completed his first house hack last year and used a little know loan to acquire the property and roll in $30k for rehab expenses. Kevin is a Strategic Pricing Analyst for Meijer, as well as a crossfit trainer & public speaker.
You can hear Kevin on Episode #31 of the podcast.
Allison Koetsier is the Rock Star Realtor who helped Courtney find her first house hack. Allison works for Compass Realty Services & is the #1 multi-family broker in West Michigan. She’s a board member of the RPOA and runs the millionaire mastermind group.
You can hear Allison on Episode #38 of the podcast.
Josh Smith was instrumental in helping Kevin remodel his first house hack using an FHA 203k mortgage. Josh was the owner of Front Porch Group, which focused on the niche of remodeling homes using 203k loans, and he’s currently the sales manager at Treadstone Mortgage, which specializes in residential home mortgages including FHA renovation loans.
I know you're going to enjoy this special podcast episode. Please take a moment to go to itunes to subscribe, rate & review!
With over 20 years of experience buying, managing, and profiting from Single Family and Apartment rentals, Steve Ferris has certainly had his share of up's & downs.
Today Steve shares the lessons he's learned about hiring professional management, flipping his first house, creative financing and lines of credit, and why buying a bargain does not always lead to big profits.
Steve is a Single Family and Apartment investor in Grand Rapids and Muskegon, Michigan. His first acquisition was in 1995, and his portfolio grew quickly enough to allow him to quit his day job. Steve is still actively acquiring rentals in Muskegon, and during our conversation he shares the numbers and returns he's been able to achieve.
I know you'll enjoy our conversation today. Please show us how much by going to itunes to rate & review the show!
Real Estate Investing offers one of the greatest paths to long-term wealth. However, one of the most important components of building that long-term wealth is often overlooked, or approached with dread & fear. Of course, I'm talking about taxes.
Today, in an effort to get past that fear & confusion, we delve into the tax benefits and reporting methods of real estate investing with Duane Culver, CPA and President of Culver CPA Group.
Duane is going to talk us through year-end tax reporting and what you should know if your are a wholesaler, flipper, rehab-er, or buy & hold investor. Duane explains terms like 'depreciation' & 'basis', the difference between investment & business income, what is a balance sheet and profit & loss statement, retirement planning & IRA's, as well as common mistakes different types of investors typically make when they fill out their tax forms.
If you're about to sit down & do your own taxes, or you have a professional prepare them, it pays to learn as much as possible about tax rules & how they apply to real estate investing. The more you understand, the more you'll be able to use tax law to your advantage, avoid mistakes, and prevent IRS audits.
Duane can be contacted by email, his website, or phone:
Enjoy the show, and please take a moment to go to itunes to subscribe, rate & review.
Twenty years ago, Jeff Wilson attended a free Robert Allen Seminar and shortly after purchased his first Single Family Rental Property for $10,000. That successful investment was the beginning of a portfolio that would take him from Cleveland to Grand Rapids, through boom and bust, and ultimately to a point where he is preparing his properties to see him through retirement.
Jeff and I discuss the up's and down's of his investing career, buying HUD properties, selling on Land Contract, working with Section 8 tenants, and his philosophy of improving his properties by putting the cash flow back into capital expenses.
Jeff is also a successful entrepreneur, and I know you'll enjoy listening to his straight-forward advice on owning, managing, and profiting from rental property.
And if you like what you hear, do me a favor and go to to itunes to give us a review & rating.
If you've ever wondered what it takes to acquire a 40-unit apartment community, then you don't want to miss hearing Josh Sterling take you through the process step-by-step.
You might recognize Josh from Episodes 33 & 34 where he discussed his Buy & Hold portfolio in Single Family, Multifamily & Apartment rentals. Josh is also the owner of Epic Property Management near Detroit, Michigan.
Josh recently acquired this 40-unit in Newport, Michigan, and he's going to walk us through the entire process. Josh discusses the broker relationship that gained him access to this deal, how he ran his initial numbers, the site visit, the Letter of Intent, negotiating the purchase price, the purchase agreement, due diligence, the physical inspection, working with the lender, committing his own money toward earnest funds and bank fees, raising other people's money through syndication, pro-rating property taxes, closing the deal, and managing the property after acquisition.
If you're looking for actionable information that will help you do your next deal, then you owe it to yourself to hear what Josh has to say.
And if you like what you hear, do me a favor and go to to itunes to give us a review & rating.
Brad Sumrok is the #1 nationally known educator and mentor for multifamily investing in the country, and today he's going to tell us how he helps people retire in just 3-8 short years by investing in Apartment Complexes.
Brad spent 17 years in the corporate world and he shares with us how his first several multi-families allowed him to leave that world for good. Brad and I discuss Robert Kiyosaki's cash flow quadrants, ESBI, and the difference between being a W-2 employee, self-employed, business owner & investor.
We also talk about Apartment Syndication and real, achievable returns that investment sponsors and passive investors strive for.
Brad's personal mission is to help as many people as possible obtain more income, freedom, and security, by transferring his 15-plus years of apartment investing experience to those who attend his training.
And you have a chance to hear him speak on Saturday, February 25th, 2017 in Grand Rapids, Michigan, at the RPOA's Annual Conference at Devos Place Convention Center. Registration is FREE at www.rpoaonline.org
35 years ago, Jeffrey Taylor and his wife became accidental landlords. But they had no way of knowing that long ago, that the mistakes they were making and the challenges they were facing, would someday go on to inspire tens-of-thousands of real estate investors and landlords across the country.
Today you will find out how Jeffrey Taylor transitioned from being a full-time school teacher into Mr. Landlord, a highly sought-after speaker, trainer and author who has spent the past 32 years teaching landlords how to treat rental property as a business, increase their cash flow, and reduce their headaches along the way.
Jeffrey is going to share actionable tips from his "Take Total Control Program" that includes his non-traditional ideas on how to increase your tenant's satisfaction and create more freedom for you as a rental property owner.
But wait, there's more... Because Jeffrey will be speaking at the RPOA's Annual Conference on February 25th, 2017 at the Devos Place in Downtown Grand Rapids, Michigan. I highly recommend that you go to www.rpoaonline.org to register for your FREE admission.
Often times in Real Estate, it can be the little things that differentiate your property from the competition. For Joshua Schaub, it was being located on the right bus line that fueled his early investment success.
In our conversation today, Joshua and I discuss his portfolio of High-End Student Housing, and his criteria and strategies for locating, acquiring, rehabbing and managing them for maximum profit. Joshua also takes us through a case study of his most recent Single-Family purchase.
Joshua & I also share the details on things we've found while walking through foreclosed homes, how Joshua house-hacked his first investment property, our take on the current market, and Joshua's advice to recent college graduates interested in earning a living through real estate investment.
Joshua is the owner of Icon Realty Group, representing buyers and seller in the Grand Rapids Home Market. He also owns Pro Properties, LLC to locate, purchase, renovate and manage his properties.
You can reach Joshua through his website at:
Would you agree that doing over 600 Wholesale Deals makes you an expert on the subject? Then you're going to love hearing from my guest today.
Vena Jones-Cox is known as 'The Real Estate Goddess', and she is also a self-described 'Real Estate Geek' who is knowledgeable on just about every aspect of real estate investing and believes it to be the best way to achieve financial independence.
Vena does all of her investing in the greater Cincinnati area and has bought/sold/managed over 700 deals employing many different creative strategies.
Vena also hosts the Public Radio Show called "Real Life Real Estate Investing", and she will be speaking at the RPOA's FREE Annual Conference in Grand Rapids, Michigan on Saturday, February 25th, 2017 from 10 a.m. until 12 p.m. at the Devos Place Convention Center.
Vena will be sharing her unique and up-to-date strategies on the Fastest & Easiest Way to Wholesale Properties for Big Money.
You don't want to miss what Vena has to share. Enjoy this episode and register for the FREE CONFERENCE at www.rpoaonline.org
When Justin Hentemann turned nine years old his father started a property management company. Justin literally learned the business from the ground up - by cleaning hallways and landscaping, to becoming a property manager and team supervisor, to working his way up to Vice President of MTH Management Company.
Today, Justin and I have a very high-level conversation that anyone interested in Commercial Apartment Investing will want to listen to. Justin explains why the success of a property is determined on the day you close, how to find efficiencies and lower expenses, and how to turn around a cash-flow negative property.
You're also going to learn about the different accounting methods and the difference between cash-based accounting and the accrual method. Justin also manages Low Income Tax Credit (LITC) properties, as well as HUD, Rural Development (RD) and MSHDA housing. We'll discuss what these terms mean, as well as what it takes to comply with these types of loans.
MTH Management is based in Lansing, Michigan and manages over 2,000 units of large apartment communities, as well as some smaller multi families throughout Michigan and parts of Ohio & Indiana. You can contact Justin in the following ways:
I know you're going to learn an incredible amount from today's episode. Please take a moment to give us a rating & review on itunes.
What is the best way to determine whether you should be a Buy & Hold investor or a Fix & Flipper? Why not be both?
Robyn Thompson is known as the 'Queen of Rehab'. She is the nation's leading expert in buying, renovating and selling single and multifamily homes for huge profits. Robyn has renovated and sold well over 300 homes.
Robyn has also taught thousands of students how to achieve Financial Independence by investing in distressed properties, and will be sharing her secrets and strategies at Michigan's Largest FREE Real Estate Investor & Landlord Conference & Expo which is happening February 23-25, 2017 at the DeVos Place in Downtown Grand Rapids, Michigan.
Robyn will be speaking at both the morning and afternoon sessions on Thursday, February 23rd and will be bringing along her valuable BONUS materials to hand out to everyone who registers in advance.
For more information & your free registration go to: https://rpoaonline.org/
A lot of listeners have asked me to share more about my investing strategies and experiences in Multifamily and Apartment Syndication. The best way to accomplish this is to bring in my business partner, Marty Green, to discuss three of the deals we've done together.
Marty Green is the owner of Green Property Management here in the West Michigan area. Marty & I have partnered on three separate apartment investments, and we will discuss the many aspects of those deals during our conversation today.
Both of us believe strongly in strategically partnering with the right people to get past plateaus, overcome challenges, and achieve exponential growth in real estate investing.
Marty also explains why your expenses should go up, and your income should go down when you first acquire a turnaround investment property. We discuss what to do when you've inherited bad tenants, alternatives to capital calls, lowering expenses to increase your Net Operating Income, and the number one thing we do at all of our communities to prevent tenant problems and attract the best residents.
I also share how we syndicated these investments: the SEC rules we followed, the types of investors we worked with, the money we raised, and our communications with our current investors.
I know you'll enjoy today's show. Please take a moment to give us a rating and review on itunes.
If you'd like to learn more about Marty Green, you can reach him through his website:
To learn more about Hamrick Investment Group: