A lot of our listeners in Grand Rapids might know Bruce Vander Vennen as the President of Jack's Lawn Service and Snowplowing. But what you may not know is that Bruce is also a successful rental property owner with 108 units in single-family, multi-family and condos in Kentwood, Grand Rapids, and Muskegon, Michigan.
Today on our show, Bruce shares how he began his portfolio, the problems he faced along the way, and the new market he started investing in six months ago.
Bruce also shares his story of a condo he picked up at tax auction that was not what he expected it to be, the Memorial Day Weekend he spent cleaning a sewage backup in the basement of one of his properties, and how that experience lead to his decision to hire professional 3rd party management.
There's a lot of great content in today's conversation. Please take a moment to go to itunes to 'subscribe, rate & review'!
You can contact Bruce through his website. If you're an RPOA member you can receive 20% off of your lawn care & snow plowing services.
My guest today is Joe Pohlen, a successful investor and entrepreneur who started buying single family student rentals while he was still in college.
Joe has grown his portfolio to include Multifamily and Apartments in Grand Rapids, Kalamazoo, Lansing and Battle Creek, Michigan, which he oversees through his management company; Ancora Management.
Joe will also be discussing his recent acquisition of several independent and assisted living facilities, and the extensive turnaround and receivership experience he gained during the great recession.
You'll also learn the steps Joe went through to turn around a distressed 52-unit apartment community in Lansing, how he raises money from investors, and his management philosophy which helps him find the best residents.
There's a lot of great information in today's episode. Please take the time to go to itunes to 'subscribe, rate & review'!
You can contact Joe & find out more at:
You may have seen or heard my guest on CNN, CNBC, NPR, Fox News, CBS Marketwatch and the Wall Street Journal. However, a 3 minute news blurb is not enough to learn all the knowledge and wisdom Kathy Fettke has to share. That's why I know you're going to get a lot of value out of our podcast conversation today.
Kathy Fettke is passionate about helping people create real wealth - which she defines as the freedom and money to live life on your own terms. She's the CEO and founder of "Real Wealth Network", which is a California based real estate investment group with over 16,000 members.
Kathy also hosts two extremely popular podcasts - "The Real Wealth Show", and "Real Estate News for Investors with Kathy Fettke". She's also the author of the popular book "Retire Rich with Rentals" which is available on amazon.com.
During our conversation, Kathy and I discuss areas of opportunity around the country, as well as 'bubble areas' that Kathy is helping her investors move their money out of. Kathy shares how she and her husband overcame a major life obstacle to begin investing in real estate, and whether or not the market is heading for another downturn.
There's a lot of great information packed into the episode that will make you look at real estate investing in a new light. Enjoy!
Today I sit down to talk with the Top-Selling Multi-Family Broker in the Greater Grand Rapids area.
Allison Koetsier is an Associate Broker with Compass Realty Services. She's also a successful investor in Single-Family and Multi-Family Rental Properties.
Allison shares her stories about her first investment in a four-unit rental property, the challenges she faced in learning how to manage her growing portfolio, and the reasons why she became a broker.
Allison and I also discuss the advice she offers new clients who are starting or building their investment portfolio, the mistakes she's made along the way, and a recent investment she made using a 1031 Exchange.
I'm excited to share this conversation with you. If you like what you hear, please be sure to go to itunes and subscribe, rate & review!
You can find out more about Allison online at:
Whether you're a Buy & Hold Investor, Wholesaler, Landlord, Property Manager or you do Fix & Flips, you most likely have some form of real estate business. Whether you realize it or not, your business has a credit footprint that can be used to your advantage, especially when it comes to obtaining alternate financing.
In today's conversation with Ty Crandall, we discuss Business Credit: What it is, how to build it, and what it mean to you specifically as a rental property owner & real estate investor. If you build your business credit the right way, you can access funds without using your personal information and social security number.
Ty Crandall is a leading expert on building business credit and is the CEO of Credit Suite, one of the biggest and most credible business coaching operations in the United States. He's also the author of two popular books: "Perfect Credit" and "Business Credit Decoded". Ty also hosts an excellent podcast called "The Business Credit and Finance Show".
You can contact Ty through his website:
And download a free report on "How to build credit for your EIN that is not linked to your SSN"
Mark Troy is the owner and founder of Compass Property Services, a full-service property management company that also does remodeling and helps investors and home owners buy and sell properties.
Today we sit down to talk about Mark's early career as an investor and landlord, and the decisions that led him to start his own management company. Mark shares his tips on leasing, evictions, and managing your property, and discusses the mistakes that he's seen many landlords make.
We also talk about Mark's bigger goal to build massive wealth in order to give it away to important causes that he believes in.
Mark is also the President of the Rental Property Owner's Association, and we discuss the importance of the RPOA in protecting the rights of investors and landlords at the city, state and federal levels.
I know you're going to get a lot of great information from this interview. Enjoy!
You can contact Mark and Compass Property Services through their website:
If you're an active investor in commercial multi-family and apartments, or you're interested in getting into this space, I know you're going to get a lot out of today's conversation.
I'm excited to sit down with Craig Black and Scott Nurski, who are both Multi-Family Investment Advisors with NAI Wisinski of West Michigan.
We have definitely packed a lot of great information into today's conversation: What you need to do to get brokers to take you seriously, the economy of scale with Multi-Family and Apartments compared to Single Family Investing, and factors & expenses to consider when you begin investing in larger units.
Craig and Scott also go into detail on the Michigan and West Michigan market, including where you might still be able to find deals.
You can also check out Scott Nurski's NAIWWM Mid-Year West Michigan Multifamily Market Forecast:
Craig and Scott are also quoted in the following Grand Rapids Business Journal Article:
Last week I spoke with Josh Sterling about his Single Family Rental Investments and the plateaus he's overcome while building his portfolio from 1 to 160 units.
This week, in part two of our conversation, Josh and I discuss the 24 Unit Apartment Community he purchased on Land Contract that had a 42% occupancy rate and how he managed to turn that around. Josh shares how he improved the occupancy to near 100%, and cash-out refinanced all of the money he originally invested.
We discuss the "Infinite Return" he's created by no longer having any of his own money in the investment, while still cash-flowing $5,400 a month. This is the Holy Grail of real estate investing, and Josh is going to tell us how he did it.
We'll also talk about the 53-unit Josh purchased next, how he built his team at Epic Property Management, the systems and property management software he put in place to help build his portfolio, as well as new construction projects he's undertaken recently.
This episode is bursting with great information for novice & seasoned investors. Be ready to take lots of notes!
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!
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!
Today I'm excited to sit down and talk with Brandon Krieg, an experienced wholesaler who also does fix & flips. Brandon is the owner of Honeybee Homes, and has a lot of great knowledge and experience to share with our audience.
If you've ever considered wholesaling as an investment strategy, or are looking for better techniques to ensure your success, then you won't want to miss Part One of this interview!
Many of our listeners will recognize Brandon as the co-founder of the West Michigan REI Club. You may have also listened to one of his interviews on other podcasts, including Bigger Pockets.
You can contact Brandon through his website at:
Today I'm thrilled to be talking with Rod Khleif, the host of the "Lifetime Cash Flow through Real Estate" Podcast.
As one of America's top real estate professionals, Rod has personally owned more than 2,000 single family homes and multiple apartment communities.
Rod shares his rags-to-riches-to-rags-to-riches story, from his humble beginnings as a young, impoverished Dutch immigrant to incredible success. Rod also discusses his remarkable triumphs, and spectacular failures, which he affectionately calls 'seminars'.
We'll talk about the 800 Single Family Home Portfolio he lost in 2008, and how he's now rebuilding his fortunes through multi-family investing. Rod also tells us why he prefers multi-family to single-family and how multi-family can help protect you during the next economic downturn.
As a bonus, you can listen to this week's episode of Rod's podcast "Lifetime Cash Flow through Real Estate" to hear Rod interview me, Brian Hamrick, about my career in Real Estate Investing.
Be sure to check out both podcast episodes - they're required listening to podcast fans & real estate investors!
And find out more about Rod Khleif at his website: http://lifetimecashflowpodcast.com/
If you are a new investor who is looking to buy rental property, or you're a current owner looking for ways to improve your methods, I believe you'll get a lot out of my conversation today with Tina & Wes Emert from City Wide Real Estate Services.
Tina & Wes offer services ranging from Real Estate Brokerage, Rehabbing, Property Management and Asset Management. They take a 'Success-Based' Approach rather than a 'Property-Based' approach, and we'll discuss exactly what that means during our wide-ranging discussion that contains a lot of valuable tips for every level of Rental Property Owner & Real Estate Investor.
Find out more:
If you've ever wondered about investing in Self Storage Facilities, then this is an episode you don't want to miss. Michael Laragy built a rental property portfolio over 30 years, and then decided to sell it off in order to invest in Self Storage. Today Michael will walk us through his journey: why he decided self storage was the way to go, how he found his facility, and what he's done to make it successful.
We'll also talk about the rental properties he used to own, and how he was able to purchase many of them for 'Nothing Down', using techniques he learned from Real Estate Guru Robert Allen.
No matter what type of real estate investing you're interested in, our conversation contains decades of wisdom and experience from someone who's managed to invest successfully, transition from a full-time job to full-time investor/business owner, and has a ton of knowledge to share.
The Good, The Bad, and The Ugly: Last week successful investor Steve Whitteberry shared his stories of 'The Bad & The Ugly' with us. Today we get to discuss 'The Good'.
Steve will discuss his use of Self Directed IRA's and how they're helping him prepare for retirement. We'll also discuss 'Alligators' and how they can eat up all your Cash Flow.
And we'll also compare our experiences purchasing two separate 4-units, both of which were bought for a great price at the bottom of the market, but had two very different outcomes for each of us.
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!