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!
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:
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:
Instead of posting an interview on this Holiday Monday, I thought I'd take this opportunity to talk about a key financial ratio that you'll hear a lot from brokers and investors, but may not completely understand. I'm referring to the Capitalization Rate, or Cap Rate as its commonly called.
This won't be a technical discussion that will make your eyes glaze over. Instead I'll share with you my simple explanation that I teach in my advanced financial analysis course through the RPOA.
Happy 4th of July!