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.