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:
Listeners to this show know that I'm a big fan of house hacking as a great way to get into real estate investing. Many of our guests have begun their investment career by purchasing a multifamily property and living in one of the units while letting the rent income from the other unit(s) pay for their mortgage and expenses. In fact, I believe house hacking is one of the most sensible and lucrative ways to build a real estate portfolio, and have spoken with many guests who have proven this to be so.
Apparently, Financial Advice Guru Dave Ramsey does not agree.
In a recent advice column, Dave seems to advise one of his readers against purchasing a three unit and living in one side, while letting the income from the other two units pay for his mortgage and expenses.
Dave goes on to suggest the reader would be better off purchasing a nice, single-family home instead.
Does Dave's advice really make sense? In order to answer this question, I've invited several of my past guests into the studio to debate the pro's & con's of his answer.
Justin Workman (Episode 3) and Rob Minch (Episode 9) help me get to the bottom of Dave Ramsey's House Hacking advice, and the result is not what you would expect.
In today's tight and competitive Real Estate Market how do you find those hidden gems, and can you still profit from foreclosures?
Tony Youngs will address those questions and more. During our conversation today, Tony shares his 30 years of experience, systems, and strategies in acquiring foreclosures and hidden market properties.
Tony also discusses wholesaling, rehabbing, and the mistakes he's made along the way.
I know you'll enjoy listening to Tony's techniques, and I also encourage you to come hear Tony speak live 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.
If you plan on getting serious about real estate investing and rental property ownership in 2017, this is the 'can't miss' event of the year.
For more information & your free registration go to: https://rpoaonline.org/
Two-Thirds of the way through my conversation today, Nick Watkins drops a huge bombshell: He's managed to generate as much money in rental profits as he makes in his full-time job - and he's done it with only two duplexes and three single-family properties!
Nick takes me step-by-step through his process, how his desire to help others solve their problems led him to purchase rental property, how he's used creative financing to help him achieve 'infinite returns', and how he's learned to manage his properties and his tenants.
Nick also shares stories about the tenant who threatened him and his family, the subsequent eviction, and the consequences of not doing thorough background checks and tenant screening.
Nick & I also discuss the pro's & con's of hiring a professional third party management company, and whether or not the additional expenses are justified.
Nick shares a lot of great information, stories and tips. You can contact him through email at NickWatkinsHouses@yahoo.com
I know you'll enjoy today's conversation. Please take a moment to subscribe, rate & review on itunes.
John Potter has built an investment career on buying, rehabbing and leasing historic homes in Grand Rapids, Michigan. Sometimes while working on these homes he's discovered treasures left behind by the former occupants.
John has also discovered something surprising and unexpected about his childhood home that helps explain why he's so passionate about these historic homes.
John & I discuss his passion for homes that are more than 100 years old, what makes them better than the homes built today, and John's strategies to keep them filled with the best tenants.
John is also the owner of Tanglewood Properties and a realtor with Pro Real Estate Services. You can contact John through his website:
I know you'll enjoy today's conversation. Please take a moment to go to itunes to subscribe, rate & review!
Seven years ago Justin Herrema was in a bad snowmobiling accident that made him question everything about his real estate investing business model. This questioning led him to become the founder & CEO of Land Contract Realty and Land Contract Notes.
Today Justin shares his over 10 years of Real Estate Investing experience with us, and how he acquires a property, rehabs it, and then sells it on land contract to buyers who aren't able to acquire traditional bank financing. Justin then takes it a step further by selling the note to a private investor or hedge fund.
There's a lot of great information packed into this conversation. Justin talks about buying from banks & auctions, renovating, flipping, acquiring lines of credit, working with private investors and getting private money, as well as buying foreclosures from motivated sellers.
You can contact Justin through his websites:
I'd also encourage you to subscribe, rate & review this podcast on itunes.
What is it about Real Estate Investing that would cause a successful business owner in a completely different field to buy three 8-Units and a duplex and start his own Management Company?
Today we'll find out during my conversation with Matt Martyn, the Co-Owner & Co-Founder of Cobertyn Group and Ahptic Film & Digital.
Matt shares how he and his business partners acquired a duplex eight years ago and the difficulties they encountered in managing it while running a successful film production business.
Then Matt talks about their latest acquisitions, three 8-Units in the Lansing, Michigan area that they're currently rehabbing. Matt and his partners have formed a new management company and we'll be discussing the start-up challenges they've encountered so far. Matt & I also talk numbers and how they were able to acquire bank financing and negotiate their acquisition.
You can find out more about Matt & his company by visiting http://www.cobertyn.com/
I'm sure you'll enjoy today's episode. If you enjoy listening to this show, please do me a favor and go to itunes to SUBSCRIBE, RATE & REVIEW!
Fifteen Years ago Tom Zeeb was broke and looking for a way to raise money quickly.
Today he's going to share his Rapid Cash Generation system that allowed him to leave his job and pursue Real Estate full-time through Wholesaling, Flipping and Buy & Hold investing. Tom is going to tell us how he Finds the Deal, Makes the Deal, & Gets Paid.
Tom Zeeb is an active investor, President of Traction Real Estate Investors Association and Founder of Traction Real Estate Mentors, where he's helped hundreds of average people replace their income, quit their jobs, and turn full-time to real estate investing.
I know you'll enjoy listening to Tom's techniques, and I also encourage you to come hear Tom speak live 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.
For more information & your free registration go to: https://rpoaonline.org/
Sometimes a simple conversation can create big changes. Andy Wierda, my guest today, had that experience when he stopped to buy a beer at a convenience store. What the woman behind the counter said to him has made a huge difference in his real estate investing career ever since.
Andy is a local investor in Grand Rapids, Michigan and in our conversation today he shares many fun stories about owning and managing single family rentals, buying & flipping foreclosures, problematic tenants, evictions, and the hits & misses along the way.
Andy's also talks about being a hard money lender, how to prevent tenants from ruining your credit, single family rental inspections, affordable housing, and dealing with insurance companies when tragedy strikes.
I know you're going to enjoy today's conversation. Be sure to go to itunes to subscribe, rate & review!