Rental Property Owner & Real Estate Investor Podcast

Latest Episodes:

EP087 Fifty Dollars to Change a Toilet Paper Holder! - Is Professional Property Management Worth It? With James Loftus & Patrick Spitzley Sep 11, 2017

Show notes

This episode is dedicated to anyone who's ever owned rental property and has had to decide whether they should self-manage or hire a professional 3rd party property management company.

James Loftus and Patrick Spitzley are back in the studio to discuss their experiences managing their rental properties and then handing over their babies to someone else to take care of them.

We discuss the pro's & con's of professional management v.s. self-managing, getting rid of intrusive and demanding tenants, and whether or not your bottom-line numbers will improve with professional management.

James and Patrick also discuss why they chose not to start their own management companies, the lifestyle they've created with their free time, and whether or not $50 for changing a toilet paper holder is too expensive.

I know you're going to enjoy our conversation. Stick around until the end to hear some bonus 'off-mic' content!

EP086 Control Your Destiny by Investing in Lease Options, Land Auctions and Apartments with Whitney Nicely Sep 04, 2017

Show notes

Whitney Nicely believes everyone should control their destiny by investing in real estate as soon and as much as possible. Today she joins me in the studio to talk about the many types of deals she's done, the techniques she's used, and the lessons she's learned along the way.

Whitney LOVES investing in Lease Options, and she tells some great stories of the money she's made, and the headaches she's encountered.

You'll also learn the three profit points Whitney focuses on when doing a lease option: The non-refundable lease fee, monthly cash flow, and profit at sale.

Whitney also buys vacant land at auctions and tells the story of two purchases that had surprisingly lucrative outcomes. You'll also find out how she and her boyfriend (now husband) were able to purchase their apartment units with no money down.

This is a fun, informational episode that I know you're going to enjoy.

You can contact Whitney through her facebook page by going to:

www.whitneynicely.com/group

EP085 The Art of Buying and Selling in a Hot Real Estate Market with Joshua Schaub Aug 28, 2017

Show notes

In this red-hot real estate market you need every possible edge to separate yourself from all of the other buyers and investors you're competing with. There are also tricks and tips sellers need to be aware of to get the best price for their property.

Today Joshua Schaub from Icon Realty Group is back in the studio to share up-to-date actionable techniques for buyers, sellers and investors that will give you the edge in today's real estate market.

Joshua has 7 tips for buyers that will help them get more offers accepted, 5 tips for sellers that will help them price and market their home effectively, and real-life stories from the trenches that every investor can learn from.

We discuss the vacant land he purchased where his development plans were literally 'sunk', why buyers should do a final walk-through before closing, and how he helped sell a house that hadn't received any offers for more money than the seller had been asking through a previous broker.

There's a lot of fantastic information packed into this episode. I'm also thrilled to welcome Icon Realty Group as the newest sponsor for this show. You can contact Joshua and Icon Realty Group by phone or website:

616-216-2000

http://www.joshuaschaub.com/

http://theiconrealtygroup.com/

EP084 Meet the Couple from England who Built a 57-Unit Portfolio in Kalamazoo with Bill and Jackie Howson Aug 21, 2017

Show notes

Bill and Jackie Howson have achieved what many Real Estate Investors dream of - They've built a 57 Unit portfolio, weathered the loss of his job, and achieved financial security through Real Estate Investing. But best of all, they've done it together.

Today we discuss how their unique talents and skills compliment each other, and share some funny stories of the arguments they've had along the way. Bill is the researcher and constant learner, who enjoys the due diligence and acquisition phase. Jackie is the designer and rehabber, who has earned her respect in a male-dominated industry.

Bill and Jackie also share their management philosophies, and tell why they no longer accept residents who have evictions in their past. They also talk language differences, and how they've had to learn the American meaning of 'yard', 'electrical socket', 'tub', and 'faucet'.

I know you'll enjoy this fun and informative conversation. Please take a moment to go to itunes to give us a 5 star rating and review!

EP083 Buying a Dollar General Store V.S. Buying a Multifamily: Differences in Investing in Commercial Office, Retail and Industrial with Marcus & Millichap Senior Associate Michael Cagen Aug 14, 2017

Show notes

When it comes to buying Commercial Retail, Office or Industrial Investment Property, there's a lot of differences from the Commercial Multifamily and Apartment World. Here to discuss and compare those differences with us today is Michael Cagen, a Senior Associate with Marcus & Millichap. Michael and I talk about Single Tenant Net Leases in the Retail space, such as those you might find with a Dollar General store or a Walgreens. We also discuss the different types of leases you might find in an office building such as Gross, Modified Gross, Single Net, Double Net, Triple Net and Absolute Net, and who pays what expenses under each. Michael shares the factors used in valuing these types of commercial properties, such as price and cost per square foot, cap rate, tenant strength, lease duration, and tenant improvements ("TI"). He also shares real-world examples from investments he's brokered. You'll also get an inside look at how Marcus & Millichap position their client's commercial properties in the market to attract the greatest number of buyers and how that translates to higher purchase prices. Michael will take us step-by-step through the process of working with sellers and buyers, and what makes a purchase offer stronger than others. This episode offers an in-depth and fascinating look at the different types of commercial investments. You can contact Michael by email or phone:

mcagen@marcusmillichap.com 616-291-6222

EP082 How He built a $160 Million Apartment Portfolio with 'Best Ever' Superstar Joe Fairless Aug 07, 2017

Show notes

Joe Fairless is the host of "The Best Real Estate Investing Advice Ever" Podcast and today he's in the studio to tell us how he grew his portfolio from Four Single-Family Rentals to an apartment portfolio worth over $160 Million within the span of three years.

Joe shares the details on his 'Best Ever' investment, a 250 Unit complex in Houston Texas, and how he increased it's value from $16.1 Million to $21.6 Million in two years.

Joe also discusses the types of apartment investments he buys, his Return on Investment goals, and the steps he takes to increase the Net Operating Income. He'll also take us through his 3-step approach to scaling his business through strategic partnerships, as well as what he looks for in potential partners and what skills he brings to the table.

Joe also has a marketing background, and we discuss how important marketing is to raising money and being a successful investor. Joe also tells the story of his brief career in stand-up comedy and how that's helped him get past the fear of talking with investors.

Whether you're familiar with Joe's podcast or not, I know you'll learn a lot of great information from this episode. You can contact Joe through his email or website, and by listening to his podcast:

info@joefairless.com

http://joefairless.com/

EP081 How He Started with a $30K Four-Unit Foreclosure and Built a Million Dollar Portfolio with Tim VandenToorn from United Properties of West Michigan Jul 31, 2017

Show notes

In 2011 Tim VandenToorn took a leap of faith and invested $30,000 from his savings and ROTH IRA into a four-unit foreclosure. That was his first step into real estate investing and he's been going strong ever since, building a portfolio worth over $1 Million dollars. In this episode, you'll find out how he did it.

Tim and I also discuss his previous career in law enforcement, and why he traded that in to work with his family in property management at United Properties of West Michigan. Tim started as a maintenance tech and has since worked his way up to Managing Partner, where he oversees over 500 properties in the West Michigan area. Tim also started United Realty, which assists investors with the acquisition of investment properties.

Tim shares a lot of the experience he's gained during this time, such as buying multiple properties from tax sales, understanding the true expenses of investment property, the power of using 'other people's money', budgeting for capital improvements, and the functional issues tenants look at when deciding whether they should rent your unit.

Tim also spends a lot of time working with first-time investors, and shares his tips on managing your expectations in this hot real estate market, defining your goals, and where he sees the opportunities going forward.

There's a lot of great information packed into this conversation. If you'd like to contact Tim or United Properties, you can do so by email or website:

tim@rentupm.com

https://www.rentupm.com/

Tim can also be found on Bigger Pockets.

EP080 Buying the Note and Taking Control of a Property for Pennies on the Dollar with Gene Chandler Jul 24, 2017

Show notes

Many investors are struggling to find deals in this tight real estate market, and ending up increasingly frustrated by the lack of inventory and high asking prices they're encountering in the Primary market in which these properties are traded.

But there is a Secondary market in which these properties can be acquired for a fraction of their value by purchasing the note, or underlying mortgage.

Gene Chandler, the Asset Manager for Chandler & Chandler Financial, LLC, is in the studio with me today to share his experiences over the past decade in buying one-off and small pools of distressed assets directly from banks, hedge funds, and private equity groups.

Gene will explain the differences between the primary and secondary markets, performing v.s. non-performing loans, and traditional rehabs and flips v.s. 'fixing' a note.

You'll also learn the lingo Gene uses when talking to the bank's special asset manager, the types of properties he prefers, and many examples of the notes he's purchased and the profits he's made.

There's a lot of great information packed into this episode. If you've ever wondered what it takes to purchase the note directly from the lender, you owe it to yourself to check out this episode.

Gene can be contacted through his website or email:

http://chandlerfin.com/

investor@chandlerfin.com

EP079 How He Turned a Teardown Two-Unit into a Cash Cow with Mike VanderWoude Jul 17, 2017

Show notes

Abandoned and Dilapidated for the past ten years, it was a two-unit property that no investor wanted anything to do with. I would drive by and wonder when the city would get around to tearing it down.

And then, Mike VanderWoude came along.

Mike is a broker at 616 Places, and he saw something that no one else did. He saw money.

Today, Mike takes us step-by-step through the acquisition and rehab of this two-unit property. How he negotiated the purchase price, acquired a construction loan, and checked with the city to make sure that it was indeed, a 2-unit property.

Mike also talks about the dynamics of Grand Rapids' West Side neighborhoods, how he researched what residents want in a home, whether they prefer a tub or shower, and the value of having great photos for marketing.

I know you'll enjoy learning from Mike's experience bringing a 2-unit back to life. You can find out more about Mike on the web:

http://www.grandrapidshomesforsale.com/mike-vanderwoude/

Enjoy the show!

EP078 The Most Evil Tenant on Earth, The Cat Woman, and Other Stories from the Property Management Trenches with Bert Heyboer Jul 10, 2017

Show notes

Bert Heyboer, President of S&G Property Management Company, has been investing in & managing rental properties since 2003. Today he shares his stories from the trenches, including the Most Evil Woman on Earth, the Cat Woman, and difficult conversations with tenants who can't pay their rent.

Bert also shares his expert advice on how to get started in owning rental property, managing your cashflow expectations, and making sacrifices now so that you can reap the rewards later.

Bert's also passionate about the legislation affecting rental property owners, and chairs the RPOA's government affairs committee where he works closely with local & state lawmakers to prevent bad bills from happening.

I know you'll enjoy today's conversation with Bert. You can contact Bert and S&G Property Management by web or phone:

www.rentsg.com

616-719-0819

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