My guest today is a really interesting guy with a lot of great stories to tell.  Damion Lupo has a 5th degree black belt in real estate investing, and he's a financial transformation architect.  You'll have to listen to this episode to understand what both of those mean.  You'll also want to listen and learn how Damion built up a portfolio worth $20 million, and then lost much of it in the Great Recession. Damion shares many of his crazy stories about losing money, dealing with tenants, and why his investment career can be compared to the tv shows "Breaking Bad" and "Dexter".  Damion talks about spending over $1 million on seminars, gurus, and mentors, and what he's gained from those experiences.  He explains why he won't do business with anyone in their 20's, and discusses his thoughts on where we are in the current real estate cycle and what might happen during the next recession. Damion is also an expert on "QRPs", or Qualified Retirement Plans.  He'll explain what they are and the power they give investors over their retirement accounts.  He'll also compare them to Self Directed IRAs and explain why he believes QRPs are preferable. I know you're going to enjoy this conversation with Damion.  You can download a free copy of his book by going to www.qrpbook.com You can also visit Damion's website: https://www.totalcontrolfinancial.com/  

James Kandasamy has built an impressive portfolio of Value-Add Multifamily and Apartment Properties in San Antonio Texas.  He currently controls over 1,000 units worth $65 Million and oversees the management and construction through his company Achieve Investment Group. Today James tells us how he did it:  why & how he transitioned from purchasing single-family homes through the BRRR strategy to investing in multifamily, how he identified and acquired value-add properties, and how he bypassed the brokers by going to the sellers directly through direct marketing. James also discusses the thought process he went through before quitting his full-time job.  He and his wife didn't just want to replace their income with cash flow, they wanted to 2X or 3X their income. James is also the author of a soon-to-be released book for passive investors - "Passive Investing in Commercial Real Estate: An Insider's Secret to Financial Independence" which will be available on amazon.com This is a great episode for anyone willing to think 'bigger' and take their financial destiny into their own hands.  You can contact James through his website or email: https://achieveinvestmentgroup.com/ [email protected]  

Kyle Zimpleman has a really great story to tell about his roller-coaster ride through the Great Recession - how he began investing in single & multifamily properties, why he got rid of them too soon, and the emotions he experienced during the ups and down's of the recessionary market cycle. Today Kyle is the President & CEO of Expand Capital Group which purchases discounted mortgages throughout the U.S.  On this episode Kyle is going to share his stories of the great investments he made in single and multifamily properties, and why he had to let them go during the Great Recession.  What you'll find particularly interesting is Kyle's take on the emotions he encountered as he rode the market cycle, from Optimism to Euphoria as the market reached it's height, to Anxiety and Despondence as it crashed to it's lows.  Kyle has been through all of it and come out much stronger as a result. Kyle is also investing in performing and non-performing notes.  We discuss the discounts he's finding on these mortgages and the ways he's profiting from them.  Kyle explains how discounted mortgages work and shares stories from his conversations with home-owners who he's helped stay in their homes by renegotiating their mortgages. Kyle has a lot of great experience to share and I know you're going to enjoy hearing his story.  You can contact Kyle by email, phone or website: [email protected] http://expandcap.com/will-the-housing-market-crash-soon/ 248-955-8222

Powell Chee bought his first Single Family Rental in Kansas City by using his Credit Cards to pay All Cash.  His next purchase was a 40-Unit Multi-Family in Indianapolis, and Powell has been asset managing and improving this property while living and working in Los Angeles, California. Today Powell and I have a fun conversation discussing the process he went through to find, fund, and improve these investments, and the mistakes he's made along the way.  Powell will share his thoughts on the importance of using financial analysis software, budgeting enough money for improvements, finding out-of-state properties, and doing it all while working a full-time job. Powell also hosts one of the largest multifamily meetup groups in Los Angeles - "Out-of-State Multifamily Apartment Investors Meetup" - and he's going to share how building this network has improved his fund-raising capabilities and created new opportunities.  We also discuss Powell's daily routines, including the benefits he's enjoyed from doing Hal Elrod's "Miracle Morning". I know you're going to enjoy this episode.  Powell has a lot of interesting experiences & wisdom to share.  You can contact Powell through his website or email: https://www.platinumequitypartners.com/ [email protected] Enjoy!

Today we're going to talk about an item that every Rental Property Owner has, but many of us don't think about or understand until something Bad Happens.  I'm talking about Your Rental Property Insurance Policy. There are many ways that you can use Insurance to protect your wealth and property, and there are many ways to make mistakes that will cost you money if and when the time ever comes that you need to make a claim against that insurance policy. So I've invited my Insurance Broker, Mike Murphy from J.B. Harrison Insurance, to talk about the common mistakes he sees investors making on their insurance coverage and policies.  Mike will also share his suggestions on how to make sure you have the proper coverage that will manage your risk, save you money, and add value to your portfolio. I also want to thank Mike Murphy for being a new sponsor to this show.  I've been working with him for five years now, and he's my "go-to" insurance broker for all my residential properties. You can contact Mike by phone or email: 616-868-0050 [email protected]

Quite often real estate investors start out by managing their own properties and once they acquire a certain number of units they decide to hire a Third-Party Professional Property Management Company to looks after their portfolio.  My guest today decided to go in the opposite direction. After working with several property management companies, Ben Blake figured that he could save himself money and headaches by taking control of the property management on his 12-unit portfolio in Grand Rapids, Michigan.  Today we talk about how he went about doing that and the improvement in his cashflow as a result. Ben also shares how one of his celebrity teammates from his College Football days helped him get started in real estate investing, and the influence he had on his early career.  Ben also shares some of the early mistakes he made in screening tenants and the problems he encountered because of those mistakes. If you're going to manage your own properties you need to make sure you have the right team and technology in place.  Ben shares how he uses Buildium, Rently, and Quickbooks to keep his business running smoothly.  He also shares how he works with his tenants and handles maintenance to control expenses. I know you're going to enjoy this episode.  Ben has a lot of great wisdom and experience to share, as well as tools that can save you time and money.  You can contact Ben through email at:  [email protected] Enjoy!

Sooner or Later, every one of us will be faced with the challenges of providing safe and comfortable housing for our aging population.  Whether you're looking for a housing solution for yourself or a family member, or you're an investor interested in profiting from this need while doing good for others, there is a lot of information you need to know before going down this road. Gene Guarino is a CFP, Founder of The Residential Assisted Living Academy, and is regarded as an expert in the residential senior housing space.  Gene has taught many investors how to profit from Residential Assisted Living while helping others at the same time.  Today he's going to share how you can participate as a real estate investor, business owner, or simply a passive investor in this fast growing field. Gene will also be one of our featured speakers at the RPOA's Annual Michigan Landlord & Real Estate Investor FREE Conference & Expo which is happening in Grand Rapids, Michigan from February 21 through 23, 2019.  This is the largest Landlord & Real Estate Investor Conference in the Midwest, and you can register for free at: https://rpoaonline.org/training-events-annual-conference-expo/ I know you're going to enjoy listening to my conversation with Gene.  Senior Assisted Housing is a fast growing investment opportunity that is, and will continue to be, very much in demand. Enjoy!

Many Savvy Real Estate Investors are making a lot of money by renting out their property as short term rentals through sites like Airbnb.com.  Some are getting 3 to 4 times what they would be making from a long-term rental.  But for every investor who's making a killing with their short-term rental, there's another investor who either hasn't gotten started or is losing money because they're doing it wrong. Today we talk about the nuts & bolts techniques involved in successful short-term rental investing with Frederick Kidd, who has been managing and operating short-term rentals for the past eight years.  Frederick owns and operates his own short-term rentals in the West Michigan area and the Chicago metro market.  he also provides full-service management of short-term rentals and rental properties through his company, Silver Lakes Property Management, which currently manages short-term rentals for clients located in Benton Harbor, Grand Haven, Spring Lake and Manistee, Michigan. Frederick is going to share his best practices for managing short-term rentals remotely, finding the right team members, understanding the expenses, getting the 5-star ratings from guests, communicating effectively when problems occur, and the top things you must do to be successful. When it comes to short-term rentals the details really do make the difference, and Frederick is going to get specific about what thread count his sheets must have, whether or not he leaves condiments in the fridge, where he buys his mattresses, and the top five things you must stock up on to make your guest feel at home. This episode is a 'must-listen' for anyone interested in making more money from their rental property.  Frederick can be contacted through his websites or email: http://www.silverlakespm.com/ https://www.silverlakesvacationrentals.com/ [email protected]

On the morning of August 6th an associate of mine received an email from me requesting that he wire a vendor payment of $3,470.  Because of our relationship, it was not unusual that I would make this request.  Luckily, he texted me to ask what the payment was for, and that's when we realized that someone was impersonating me and attempting to commit Cyber Fraud! In the words of Tom Cronkright, my guest today, Cyber Fraud is "unhinged and has reached an epic level in real estate transactions."  This affects everyone who is buying or selling real estate. Tom is an expert on Cyber Fraud and started a company called CertifID to prevent fraud in the real estate, lending, and title industries.  You might also recognize Tom as the CEO of Sun Title, a Title Agency serving the Greater Grand Rapids, Michigan area. Tom has some Mind-Blowing content to share with us today, including clues to look for that indicate you're being scammed, ways to protect yourself, and Real-Time examples of Fraud that Tom has seen over the past year. You definitely want to listen to this episode, because its not a matter of 'if', but rather 'when' Cyber Fraud will happen to you! You can contact Tom by email at:  [email protected] And find out more about CertifID by going to https://certifid.com/

This is one of my All-Time Favorite Episodes, and since Halloween is coming up I wanted to Scare our listeners one more time. My apologies to "This American Life" - who's format I shamelessly ripped off!... Get Ready to Get Scared by this Special Halloween Episode with Real Ghost Stories from the perspective of Rental Property Owners, Homeowners, and Tenants. Whether you believe in Ghosts or not, sometimes strange and inexplicable things happen that make the hairs on the back of your neck stand up. Our guests today talk about the creaking doors, the footsteps, the feeling of being watched, and the sensation of seeing an apparition of someone long dead. With stories from old and new guests: Ann Finkler, Gary Hall, Steve DeKoster, Brandon Krieg, John Potter, and Sue Dejonge. I know you'll enjoy this episode and I'd appreciate it if you'd share that enjoyment by giving us a review and rating in itunes. Happy Halloween!

Matt Theriault is a Marine Corps Desert Storm Veteran who built a hugely successful career in the Music Business and then watched it all Disappear seemingly overnight.  Eventually to the point where Matt found himself bagging groceries for $7 dollars an hour just to survive. It was while working this minimum wage job that Matt received advice from an unlikely mentor that would change his life and allow him to retire young.  Matt is now an accomplished Real Estate Investor and Mentor with a cash flowing portfolio of over 100 units that have made him financially independent. Today, you're going to learn what advice Matt's mentor gave him, and how it lead to his first deal where he turned a Single Family Home into a Four-Unit.  Matt will also discuss his Wholesaling experiences, the markets he invests in, how he finds good team members and avoids the bad ones, and what he says at REI meetings to attract investors and deals. Matt discusses many creative ways that investors can use to create passive income and I know they will be of great interest to our listeners.  Matt is also the host of the "The Epic Real Estate Podcast" and you can contact him through his website https://freerealestateinvestingcourse.com/your-first-deal20025535

Kenny Wolfe started his Multifamily and Apartment portfolio with a 76-Unit deal, and he's built that up to over 2,400 units in multiple markets.  Kenny also invests in Triple and Double Net Commercial "Dollar" Stores, and has created a fund to do Hard Money Loans. Kenny is the President of Wolfe Investments, and today he shares his wealth of experience and information as we discuss how he was able to build his portfolio remotely, how he had to fire several management companies along the way, and the value-add strategies he employed to increase the value of his properties. We also discuss his recent acquisition of a property management company and how he's using it to position himself for the next market downturn.  Kenny also talks about the systems and software he's employed in his business, the strategy behind investing in NN and NNN Commercial Dollar Stores, and the trouble he's been noticing in the Hard Money Lending space. I know you're going to get a lot of great information from this episode.  Kenny is also the author of "Investing In The Dream: How to Acquire Multi-Family Real Estate and Attain Total Financial Freedom" available at amazon.com, and you can contact him through his website: http://wolfe-investments.com/

If you own and manage rental property, then keeping track of your income and expenses is something you've had to deal with.  And having the right systems and software in place can help you make more money, save time, and ultimately achieve a higher value when it comes time to sell. Today we're going to talk about what you should look for in accounting software, the information you should be tracking, and how you should set up your books for proper accounting and tax purposes. Steve Bjorkman is the CEO and Founder of Rental Hero, a simple and easy-to-use rental accounting software built for rental owners and landlords.  Steve and I discuss the pro's and con's of using excel and quickbooks, why you should always have a separate business account for your rental, the value of hiring a CPA, how to set up your books and categorize income and expenses, and how to keep track of your receipts. Keeping track of your income and expenses is just as important as taking care of your property.  Those who get it right are better positioned to make higher profits.  Steve shares a lot of excellent tips and best practices in this episode that will help you do just that. You can find out more about Steve and Rental Hero by going to https://www.rentalhero.io Plus, Rental Hero offers an RPOA discount to members - Enjoy!

Scott Pollmann read the Purple Book, played the Cash Flow Board Game, paid for the Rich Dad Training, and set off to buy his first Real Estate Investment.  Most people would start with a Single Family or Duplex, but Scott managed to find, negotiate and acquire a 16-unit for his first deal. Today Scott tells us how he made this happen and the lessons he's learned along the way.  We'll talk about the value of the training he paid for, how it helped him pinpoint his offer price on the 16-unit, and how it prepared him to add value once he closed. Scott is also a High School Science teacher and has begun sharing his knowledge of Real Estate Investing with his students.  He's also learning from them.  One of his students used Robert Kiyosaki's lessons to invest in pigs!  Scott also has a strong belief in the value of mentoring and the changes it can bring into people's lives. This is a great episode for new and experienced investors to enjoy.  You can contact Scott by email: [email protected] I'd also like to ask for a favor - please go to itunes and give us a 5-star rating & review.  This will help drive more listeners to the show.  Thanks!  

The "BRRR" strategy works great for many investors.  Buy it, Rehab it, Rent it out, and Refinance (BRRR) can be a great way to build your portfolio and build cash flow.  But sooner or later, many of us realize that this is a very slow way to become financially independent. Chandler Spence reached this Pivot Point while investing in Single Family Rentals in Nashville, Indianapolis, Baltimore, and Chicago.  That's what led him to look into investing in airbnb properties, starting with renting out his own basement. Today we discuss Chandler's ability to build teams remotely, the red flags to look for with your rehab team, and why you should always check out the property before you buy. We'll also discuss his experience with airbnb investing: how he's automated his business, the technology and tools that simplify the process, and the new frontiers in airbnb investing he sees happening around the country. There's a ton of great information in this episode.  You can get in touch with Chandler through email or his website: [email protected] https://www.spencelegacyholdings.com/contact    

By the time you listen to this episode, Justin Richards and Aaron Lenartz will have closed on a 144-unit Class C Apartment Building in Memphis Tennessee.  And they'll have raised $1.3 Million from investors to do so.  I thought it would be interesting to sit down & talk with them about what they went through to find, inspect, and acquire this property while its fresh in their minds. What you're about to hear is the nuts & bolts process from two investors and syndicators who have learned a great deal from the experience of closing their first large apartment syndication.  We'll talk about the importance of broker relationships, Best & Final offers, what it means to be a lifestyle investor, working with attorneys, and securing a bridge loan to complete necessary repairs. You'll also learn how Justin and Aaron were able to be taken seriously as investors even though they'd never closed a deal this large.  They also share the process they went through to raise $1.3 Million from qualified investors, as well as the amount of their own money they had to put up along the way. Justin and Aaron host a meetup group every third Wednesday of the month at the Buffalo Wild Wings in Wyoming, MI on 44th Street.  Their next meetup is this Wednesday, September 19th, 2018 at 5:45.  You can find out more information by going to https://www.meetup.com/Think-Multifamily-Real-Estate-Investing/events/253982654/ And you can contact Justin and Aaron through their website: https://www.greysoncapitalgroup.com/ Enjoy!  

Like many of us, Daniel Breslin started investing in real estate after reading "Rich Dad, Poor Dad".  The only difference is that he read it while serving time in prison. Daniel was able to scrape together $5,000 to do his first deal, and 12 years later he's now the Founder & President of Diamond Equity Investments, a real estate investment company specializing in Fix & Flips and Wholesaling. Daniel talks about the first deal he did after getting out of jail and how it changed his life, his philosophy on the Velocity of Money and how he likes to get in & out of a deal as quickly as possible, how he funds his deals and vets his partners, techniques on negotiating for the best sales price, tips on marketing to find good leads, and the historical biographies that inspire him. Theres a lot of great info packed into this episode that I know you're going to enjoy.  Daniel is also the author of the book "Become a Wholesale Real Estate Master: Buy & Sell Houses With No Money Down" and he can be contacted through his website:  www.REIDiamonds.com  

Gino Barbaro is an experienced investor in multifamily and apartments with over 900 units under his control, and he's built that portfolio without syndicating through his Refi & Roll strategy. Today Gino is going to share his unique perspective with us on many areas of investing and life skills:  multi-faceted multifamily and creating multiple streams of income, how Life Coaching helped get him to where he wanted to be, the challenges he faced in building his portfolio, and the partnership that accelerated his success. Gino is also the co-host of the "Jake & Gino Wheelbarrow Profits Podcast", and the co-author of "Wheelbarrow Profits:  How to Create Passive Income, Build Wealth, and Take Control of your Destiny Through Multifamily Real Estate Investing". Gino is a super successful and motivated investor with a lot of experience and helpful techniques.  I know you're going to enjoy this conversation as much as I did. You can contact Gino through email or his website: [email protected] https://jakeandgino.com/    

Five years ago I transitioned from being a full-time employee investing in Real Estate on the side, to being a full-time Real Estate Investor and Syndicator.  My greatest consideration before doing so was finding Affordable Health Care coverage for myself and my family. Any investor who has dreamed of quitting their job and investing in Real Estate full time must consider this.  Health care costs can be one of the largest line item expenses for any business.  But understanding your options and plans available can be confusing and frustrating. So I thought it would be helpful to bring in my health insurance broker, Chad Creasey from RCB & Associates, to break it all down for us:  What options are available to real estate investors, what are the pitfalls of choosing your own insurance, how to project whether you'll qualify for Obamacare subsidies, and who you can turn to for help. Open enrollment season is also coming up starting November 1st and running through December 15th.  If you're going through a change in employment and need advice on finding your own health insurance, then you definitely need to have someone like Chad on your team.  Best of all, when you go through an agent or broker for health insurance, there is no additional cost to you. I'd also like to welcome Chad and RCB & Associates as new sponsors to this show.  They're a strong supporter of the RPOA and I've been benefiting from Chad's advice for the past five years. Chad can be reached by cell, email, or his website: 616-822-9286 [email protected] https://www.rcbassociatesllc.com/

In today's tight housing market, landlords can be much more selective in who they rent their properties to.  Because of this, there are certain groups of tenants that are finding it more and more difficult to find affordable housing. Today we're going to talk about one of these groups and the efforts by the state and West Michigan community to help them. We're going to take a look at Returning Citizens, those who have been incarcerated, served their time, and are looking to re-enter society and find stable housing - which is an important part of preventing recidivism.   This episode will definitely be of interest to landlords who are willing to consider the benefits of renting to returning citizens, as well as anyone interested in understanding the difficulty they face in finding a place to live. This is a round-table discussion, and we've gathered a great group of guests to share their perspectives: Angie Sprank is the Community Coordinator for Region 4 Offender Success Program and helps returning citizens remain successful in their transition back to society.  Shellie Cole-Mickens is the Founder and Director of House of Blessings, providing housing and support for women with mental health and substance abuse challenges as well as extensive criminal histories.  She is also a returned citizen since 1996. JoNathan Martin is a returned citizen since 2015, and works closely with other returning citizens to offer them support and guidance. Ruth Walters is an officer with the Grand Rapids Police Department and runs a program called "CLEAR" for returning citizens to assist them in staying in the community. For more information on the Offender Success Program in the West Michigan area you can contact Angie Sprank at: [email protected] 616-902-5994 For those outside of Michigan, you can contact your state's Department of Corrections.

Despite the higher turnover and maintenance costs, as well as the additional tenant headaches, investing in C & D rental properties can be more lucrative if you have a plan and know what you're doing. Dan Essink owns and invests in Lower Income properties in the Muskegon, Michigan area.  He also manages them through his company, DICE Property Management.  Today, Dan is going to share his experiences and perspective with us:  How he got started by house-hacking his first duplex, the true cost of evictions and how he manages to avoid losing additional money on turnovers, and setting your boundaries with residents so they don't consume all of your time and effort. Dan also talks about the property he's buying on Land contract through both his Self-Directed IRA (SDIRA) and his Health Savings Account (HSA) with only $15,000 down. We'll also learn Dan's conservative thought process when it comes to investing in 401k's, running APODs, and understanding Amortization Tables and loan terms. Dan shares a lot of great info in this episode that I know you're going to appreciate.  Please take a moment to give us a rating and review on itunes. Enjoy!

Recently I received the following email from RPOA member and podcast listener Maureen Weick: I have 1.5 acres of vacant land in northern Allegan County. I have been trying to decide what to do with it and would love to hear some opinions. These are my questions/thoughts - 1) Do I just sell outright as vacant land? ---Not a fan of this one - I will have capital gains to pay, unless I can manage the sale under a 1031 Exchange 2) Should I put a used double wide trailer there (this is rural lot) and rent it out? If I did that, should I put on a slab or a full basement? 3) Should I build a small home there and rent it out? Again, basement or slab? I hear it is quite expensive to build right now --but will that ever get any better.....? If this was your property what would you do? In order to answer these questions I asked Justin Workman to sit down with us and go over Maureen's options.  What followed was a lively discussion about 1031 Exchanges, building spec homes, buying mobile homes, and other possible options that will be of interest to any real estate investor. Enjoy the show.  If you have a question you'd like us to consider for the podcast, please send me an email:  [email protected]  

Mark Podolsky began investing in Raw Land with only $3,000.  Seventeen years later, he's completed over 5,200 land deals with an average Return-on-Investment of 300%.  Today Mark is going to share his Raw Land Investing techniques, and how he teaches other to make huge returns without putting any of their own money at risk. Mark is the owner of Frontier Properties, a very successful and reputable land investing company.  He's also the host of several podcasts, including "The Art of Passive Income Podcast".  And he's the author of the recently released book "Dirt Rich: How One Ambitiously Lazy Geek Created Passive Income in Real Estate Without Renters, Renovations, and Rehabs". Mark will share why you don't need money to get started investing in Raw Land, how he's able to do all of his due diligence on his computer, the ways he's systematized his business, and how he's confronted his fear of death. There's a lot of great info in this episode, and you can learn more about Mark and investing in raw land by going to his website:  www.thelandgeek.com Also, if you send an email to [email protected] and mention this podcast, Mark will send you a free Passive Income Launch Kit.

As the host of this podcast, I enjoy getting questions from our listeners.  As a member of the RPOA, I love having experts on hand to help me answer those questions.  Today Mark Troy joins me to answer listener questions and share his wisdom and experience gained over 18 years in the business.  Mark is the Managing Broker at Compass Realty Services and the Director of Real Estate Investment at Compass Property Management, both of which he is the original founder and co-owner. Mark and I discuss whether one of our listeners should raise their tenant's rent, and under what conditions they shouldn't.  We also help a listener decide whether they should replace their roof for $12,000, or just patch it for the next 3 to 5 years for $1,500. We also discuss the "End Game", and common exit strategies investors use to maximize their gains and take their chips off the table. Mark also talks about 'Managing the Manager', and what he's noticing in today's market in terms of rent increases and sales volume. Mark manages and has been involved in the acquisition of thousands of rental properties, so I know you're going to learn a lot from his unique perspective. You can contact Mark through Compass Properties or his email: https://compass101.com/ [email protected]    

Should Rental Application Fees be Banned?  Today we're going to discuss an issue that's happening right here in Grand Rapids, but it affects landlords and rental property owners everywhere.  It has to do with the affordable housing challenge communities are facing as rents rise and neighborhoods gentrify.  As tenants find it increasingly difficult to locate and afford housing, those communities and their elected representatives are pointing the finger of blame at landlords, investors and property management companies, and looking for ways to legislate our behavior in order to solve this problem. Just this week the Grand Rapids Mayor and City Commission voted to approve a rental application fee ordinance, which will be very consequential to all of us who provide rental housing.  In order to help explain and understand this ordinance, I'm joined by the RPOA's Director, Clay Powell.  Clay has been involved in this issue on the RPOA's behalf since its inception, and is going to break it down for us in order to understand how it will impact the way we screen tenants, collect application fees, and advocate for our rights as rental property owners. You can learn more about the RPOA and become a member by going to www.rpoaonline.org

In today's tight real estate market its very difficult for investors and home buyers to find good investment deals.  Believe it or not, there are still plenty of opportunities in Distressed, Foreclosure, and Bank-Owned Properties.  One of the ways to find these deals is through Auction.com. Today I sit down with Casey O'Neill to discuss the transparency Auction.com is bringing to the distressed market, and the emphasis they place on helping potential investors with due diligence. Casey also warns of the pitfalls and risks in investing in distressed properties that you may not get to inspect fully before purchasing.  We'll also talk about the bid process as well as the timeline and costs associated with purchasing.  And Casey shares his thoughts on Michigan's Foreclosure laws and how they could be improved. If you've never used Auction.com, this episode is a great introduction to a potential source of opportunities.  If you've ever bid on Auction.com then you'll definitely find some useful tips on how the system works. I hope you enjoy this episode and ask that you take a moment to give us a review and rating on itunes.

Ratan Khatri is a strong believer in the power of leveraging other people's money through syndication.  He's recently completed his first syndication with the purchase of 50 single family homes in Muskegon, Michigan, and he'll be investing in Senior Assisted Living, Mobile Home Parks, Self-Storage, and Multi-Family through syndication as well. Today Ratan & I discuss his philosophy of investing, and why he believes its better to own 10% of ten things rather than 100% of one thing.  Ratan also shares his thoughts on the economy and why he's investing in different asset classes.  You'll also learn how Ratan has added additional value to his real estate through simple upgrades and improvements. Ratan is also the owner of RKP Management, which manages over 200 homes in Muskegon, Michigan, with an emphasis on helping veterans and low-income families.  Ratan has been active in improving tenant screening in the Muskegon area, and those efforts have been paying off with decreased turnover for his & other's properties. Ratan also discusses the immigrant experience, and why certain immigrants are so successful after moving to the United States.  You'll learn what separates America from the rest of the world, and why our streets are 'truly paved with Gold'. I know you'll enjoy this episode and the wisdom Ratan has to share.  You can contact Ratan through his property management company, linkedin, or phone: http://www.rkpmgt.com/ 231-206-1181

Vinney Chopra came to America with $7 dollars in his pocket and a dream.  Today he Asset Manages a $172 Million dollar portfolio of Multi-Family Properties.  He's done over 26 syndications and has over 3,100 apartments under management.  The great thing about Vinney is that he can raise $6 to $10 Million dollars without breaking a sweat, but he remains humble and friendly and willing to share how he does it. In today's conversation Vinney will tell us how he went from being a failure at door-to-door sales to buying thousands of doors through syndication.  You'll learn how Vinney talks with potential investors and the techniques he uses to raise millions of dollars.  We'll also discuss the importance of salesmanship and the marketing tips Vinney has learned along the way. Vinney also shares the return-on-investment he shoots for with his investors, why he started his own property management company, and the people and books who have influenced his thinking in a positive way. Vinney is one of the most positive and inspiring people you'll ever meet, and I know you're going to enjoy this conversation.  You can learn more about Vinney by checking out his website: http://vinneychopra.com/

Calvin Beeke left college to become a full-time entrepreneur, found success with a business he created, and then decided to become a full-time real estate investor. Within a short span of time, Calvin has dived right in.  He likes to have three flips going in any given period: one that he's just purchased, one that is being rehabbed, and one that is being sold.  At the same time, Calvin is building his Buy & Hold portfolio of value-add investments with a focus on mid-sized Multi-family.  He owns 17 units on his own, and over 50 units with his investment partners, ranging from a duplex up to a 24 unit Multi-family. Today Calvin and I discuss how he gets his leads and finds his deals, how he's increased his Net Operating Income by increasing rents and lowering expenses, and the value of purchasing your own laundry machines. Calvin also takes us through the numbers on a 12-unit he purchased in Lowell Michigan and the mystery of his extraordinarily high water bill.  We also discuss the pro's and con's of Freddie Mac and Fannie Mae loans and the different terms to pay attention to. Calvin has built a profitable portfolio quickly, and I know you're going to enjoy learning how he did it.  Enjoy the episode and please take a moment to give us a review & rating on itunes.

Real Estate investors are quite often focused on acquiring assets and building their portfolios.  But how often do we stop to think about our 'end game', and when and how we'd like to wind down our investments? Transition Planning is an important part of every investor's game plan, and having a team that consists of a real estate attorney, CPA, and financial planner can be very helpful in putting this plan in place. Bobbi S. Hines is an attorney, and a member of Kreis Enderle's Estate Planning and Elder Law Practice Group, and she's in the studio today to discuss transition planning for real estate investors. We'll be talking about the different transition options investors and business owners consider, how you should be planning your transition plan now, and the mistakes people make in laying the groundwork for their transition plans that can have disastrous consequences for their business and their heirs. Bobbi will also be teaching the RPOA's "Transition Planning for Real Estate Wealth" course at the RPOA's Grand Rapids office on Tuesday, June 19th @ 10am.  You can register for this class by going to www.rpoaonline.org. You can also contact Bobbi directly by email or phone: [email protected] 616-254-8419 There's a lot of great information packed into this episode that every investor and business owner should be considering and planning for.  Enjoy!

Jeremy Garcia and Melanie Hall's path to real estate investing is very different than what you might expect from two successful entrepreneurs. Both have had to overcome the self-doubt and lack of confidence that many of us experience when starting down this road, but Melanie also faced tragedy and bankruptcy along the way. Today they share their stories of working through that initial bankruptcy with the help of credit restoration companies and the RPOA, the House-Hack that made a $70,000 profit, and the house from hell that the city told them was on fire. Jeremy also runs us through the numbers he looks for when making an investment and tells us about the police report he just filed on a contractor who was making unauthorized charges on his Home Depot credit card. Melanie explains why color is so important to making their homes feel inviting, and we discuss the purchasing power of women and why all rehabs should be done with them in mind. This is a great episode to get to know two very interesting RPOA members and hear their true story. Jeremy also owns a landscaping company, and if you'd like to learn more about his services you can contact him through email: [email protected]

Statistics tell us that one-in-four Americans will be sued in their lifetime, and Real Estate Investors are targeted even more frequently.  So what can we do as investors to protect ourselves and our investments? Our guest today, Scott Smith, is an Asset Protection Specialist and owner of Royal Legal Solutions, which provides business, tax and legal solutions geared exclusively toward real estate investors.  Scott is going share his asset protection strategies, as well as stories from the front-lines of the legal system. Scott will share his advice on why you shouldn't hold your property in your personal name, using trusts to shield your assets, traditional v.s. series LLCs, the importance of accurate accounting and how to avoid piercing the corporate veil. Scott will also tell us why insurance is not a substitute for asset protection and has a $4 million dollar horror story to prove it. If you own rental property you need to protect yourself and your investment.  This conversation is a great place to start. Scott can be contacted through his website, email & phone #: https://royallegalsolutions.com/ [email protected] 512-757-3994

Ric Conkey is a true "Do-It-Yourself" Landlord and Multi-Family Investor who grew up helping his father manage their family's rental properties. Today Ric shares the secrets he's learned over the years on maximizing rent, decreasing turnover time, and marketing to tenants.  He also shares the frustrations of being on call for maintenance and repairs, waiting for cleaning crews, and sorting through multiple keys for his 14 units.  We also talk about laundry income and the pro's and con's of owning your own machines. Ric is also a home appraiser for Real Value Group and will give you the inside scoop on how to maximize your properties' appraised value.  Ric and I also discuss his epiphany on retirement and how it relates to his passive income from owning real estate. There are many great nuggets of wisdom in this conversation that will definitely add value and real estate knowledge.  If you'd like to contact Ric, his phone # is 616-813-8952, and his email is [email protected]

Lane Kawaoka is an engineer by day, but whenever he's not on the job, he's full-on into Real Estate Investing as the owner of MPFE Investments which is focused on value-add multifamily apartments. Lane and his partners own over 626 units and he's raised over $2 Million from private investors. Today we're going to discuss the steps Lane is taking to break the "Golden Handcuffs" of his high paying job, why its important to get started investing, even if you're buying a mediocre single-family, the reasons he doesn't like 1031 exchanges, and the three ways a deal can fail. Lane also lives in Hawaii, and explains how he's able to invest in other states.  He also describes his transition into commercial real estate investing and how he learned to talk with brokers and find strategic partners in new areas.  You'll definitely pick up a lot of great information from this episode that will help you in whatever type of investing you're interested in. You can contact Lane through his website or email: http://simplepassivecashflow.com/ [email protected] Enjoy the show!

Tyler Lyons has acquired and rehabbed three houses in the Grand Rapids, Michigan area, and in the process he's added substantial value to each one. Tyler's goal has been to "BRRRR" - Buy, Rehab, Rent, Refinance, and Repeat. But when it came time to put financing on those properties, he wanted to make sure he avoided the pitfalls that led many investors to lose everything during the Great Recession. How much debt on your rental properties is safe? Should you keep a good amount of equity in your property, or pull out the maximum in order to buy more? What's better, a 15-year mortgage or a 30-year? And are investors making the same mistakes in financing that were being made leading up to the last recession? These are questions that need to be taken seriously, so who better to help answer them than "Friends of the Show" Justin Workman and Rob Minch. Justin and Rob join Tyler and me in the studio to perform a bit of Real Estate Therapy and Counseling. Rob calls on his lending background to compare today's loan environment to the one ten years ago. Justin breaks down just how much money Tyler needs to keep in Capital Reserves for his rentals, and what that means to his ROI. And Tyler shares the process he went through in building his portfolio. This is a great episode that I know you're going to enjoy. And I guarantee that Justin's CapEx breakdown will make you rethink how much money you should be keeping in reserves for your properties. And if I may ask a favor, please take a moment and go to itunes to give us a rating and review. This will help us increase our listener-ship and continue getting great guests.

Jack Gibson knew early on that having a job and working for someone else just wasn't in his destiny, so he sought out alternative paths to creating wealth. By the age of 21 Jack was running a successful multi-million dollar business coaching clients on effective nutrition and fitness strategies.  Then he realized how profitable real estate investing could be.  Now he's the Co-Owner of High Return Real Estate, LLC out of St. Joseph, Michigan, and he's passionate about helping other investor find high-yield cash-flowing properties and investing in them passively. Today Jack and I discuss his early beginnings as an entrepreneur, Multi-Level Marketing businesses and the important lessons they thought him in sales and marketing, and the effects reading Robert Kiyosaki's "Rich Dad, Poor Dad" had on him. Jack also shares the types of returns he strives for in his turn-key properties, the importance of finding the right team, and the $60,000 mistake he made on one of his early investments. I know you'll enjoy this episode.  You can contact Jack through his website: https://highreturnrealestate.com/

When it comes to Finding the Money for your purchase of a home or investment property, Seller Financing can help you avoid traditional lenders while setting terms that work for both the buyer and seller. From a seller's standpoint, seller financing can help you maintain a steady income, while spreading out the tax consequences of a sale. But with the passage of the Dodd-Frank Consumer Protection Act, a lot of investors are unsure whether Seller Financing is still a viable strategy. Luckily, the RPOA held, and recorded, an expert panel at it's annual conference where we discussed how Seller Financing works, the legalities to be aware of, and how to do it right.  Here are the experts you will hear from: David Hill, a Real Estate Attorney with Barnes & Thornburg LLP.  His specialties are Real Estate and Finance Law.  David was also a guest on the podcast – episode #12 Justin Workman, a Residential Redevelopment Specialist, landlord, investor and home buyer.  His company is Work’n It Properties LLC, and Justin has experience with various types of seller financing.  Justin was also a guest on the podcast – episode #3, 51 & 67 Javier Rodriguez, a real estate broker at Lake Michigan Realty Management who has sold over 500 properties in Kent County.  He’s also a former loan originator with experience providing his clients with seller financing options. Steve Whitteberry has 10 years experience as a real estate investor in West Michigan.  He’s done fix & flips, buy/repair & holds, and he’s purchased properties using seller financing and has sold four properties using Seller Financing out of his Self-Directed IRA.  Steve has been on the podcast several times, Ep #19 & 20 There is a lot of great information packed into this episode that I know you're going to enjoy and profit from.  Please take a moment to go to itunes to give us a five-star rating and review.  

If you've ever wondered what it would be like to star in one of those Fix & Flip Reality TV shows, then you're going to love this episode. Last year Jeremy Cole and Ramon Huerta shot a pilot episode for a new series called "Gritty To Pretty".  Last month it debuted on the DIY Network, and today they'll share their 'behind-the-scenes' stories and secrets. You're going to learn how Jeremy and Ramon got comfortable being in front of the camera, how they chose the property to rehab, and why the producers asked them to clean the bathroom before filming began.  You'll also find out what its like working with a real Hollywood tv crew, how it affected their rehab schedule, and what a 'clapper' actually does. Jeremy and Ramon have been on the show before (Episode #65) and they always provide a fun and interesting conversation.  Soon they'll be learning whether or not their show will get picked up by HGTV, and you can stay informed by checking out their "Property Krawl" facebook page, or Jeremy's website:  www.kzoorestored.com Enjoy the show!

When it comes to politics, everyone has their reasons for voting for a certain candidate or backing certain issues.  And as real estate investors, we need to be aware of which candidates are best suited to support our ability to provide housing for our residents while still making a profit. Today we're going to talk about the places where politics and Real Estate Investing connect, and how we as real estate investors and landlords can support the candidates and legislation that in turn supports us as investors. Here to have that conversation is Tom Koetsier, award-winning realtor with Compass Realty Services.  Tom also sits on the Grand Rapids Planning Commission, he's the current president of the RPOA, and is also a successful real estate investor as well. Tom also volunteers on the RPOA Government Affairs Commission, as well as the RPOA Political Action Committee (PAC). You can support the PAC by following the link below: https://rpoaonline.org/rpoa-political-action-committee/  

Vacation Rentals & airbnb's can be a great way to exponentially increase the returns on your real estate investments.  But there are also many pitfalls that investors must avoid and be aware of in order to be successful. On February 23, 2018, the RPOA hosted an expert panel to discuss short-term vacation rentals - how they work, why they're such a great strategy for real estate investors, tips on being successful, and how to avoid the pitfalls that can cost you extra money. Here are the four investors & experts you'll be hearing from: Gary Hall is in the process of converting a low-income 11 unit into an airbnb.  Gary is an entrepreneur, passive income strategist, and the operations manager of Westshore Property Management in Muskegon. Gary was also a guest on the podcast – episode #89 and the Halloween episode Frederick Kidd  is a licensed realtor in Illinois, and has been managing and operating short-term rentals for the past eight years. He personally owns and operates  five short-term rentals in the West Michigan area and the Chicago metro market. He also provides full-service management of short-term rentals and rental properties through his company, Silver Lakes Property Management – which is currently managing 20 short-term rentals for clients located in Benton Harbor, Grand Haven, Spring Lake and Manistee, Mi.  Kim Post  has 10 Units in Cadillac Michigan that she’s in the process of converting to short-term vacation rentals.  Kim’s been a real estate investor for over 30 years and is the owner of Post & Associates Appraisals and Next Door Properties, LLC You can hear Kim on Episode #28 of the podcast. Clay Powell is going to give us the perspective of someone who rents and stays in airbnb’s – so he’ll be representing the end-user – what they expect and what they respond to.  Clay is also the Director of the RPOA. Clay has been on the podcast several times, including Ep #6 & 72 Enjoy the show!

Raising Other People's Money to invest in real estate is a time honored tradition.  But did you know that once you have more than two investors in an investment that you technically have a syndication?  Are you also aware that the Security and Exchange Commission (The "SEC") has rules regulating how you go about raising that money and the types of investors you can allow in your deals, and that if you don't follow those rules you can get into serious trouble? Now that I've made syndications sound scary, its a good time to make them more understandable and accessible with Amy Wan, the Founder & CEO of Bootstrap Legal.  Amy is an attorney who specializes in real estate syndication and crowdfunding for entrepreneurs and real estate investors across the globe.  Her mission is to democratize access to legal counsel and capital. Amy will help us understand what we can, and can't, say to investors, the types of investors we can allow in our deal (accredited or sophisticated), SEC rules regarding Regulation D and exceptions 506B & 506C, the types of documents needed for syndicators, and how to avoid getting into trouble with the SEC. We'll also discuss the pro's & con's of Regulation Crowdfunding and the ways it has changed raising money. If you've ever considered using Other People's Money to accelerate your investment strategy, or you're already using OPM, you'll definitely want to listen to this episode. Amy can be contacted at www.bootstraplegal.com

Joe Howard and Kevin Schultz were standing in the middle of a dumpster when they came up with a business idea that would change their lives.  As real estate investors, they knew there was a huge need for getting rid of all the junk that accumulates in the houses they were looking at for flipping or rehabbing.  So they became the owners of "Junk King of West Michigan". Through this business they've been able to find opportunities that most investors never get to see.  Today they tell us about those opportunities and share stories of the less-than-glamorous side of the junk removal business. Joe and Kevin discuss the traits that make for a good partner both in real estate and business, the first rehab they did together and the challenges they faced, an abandoned house full of cat litter, and how they donate a lot of their time and items to Family Promise, a local non-profit serving homeless families in West Michigan. You'll also learn tips on how to deal with bed bugs and fleas, and how to properly dispose of paint. Joe and Kevin can be contacted through Junk King by phone or their website: 1-888-888-JUNK https://www.junk-king.com/locations/grand-rapids/ Enjoy the show!

With the recent passage of the Trump Administration's Tax Cuts and Jobs Act, there have been a lot of questions from real estate investors and rental property owners about how the new tax changes will affect their tax preparation for 2017 and beyond. Here to explain the changes and their potential benefits to investors is Duane Culver, CPA and President of Culver CPA Group.  Duane will give us the low-down on the following topics: The Return of the Education Deduction, changes in 2017 regarding Depreciation & Bonus Depreciation, Section 179 and how it affects your ability to write off capital expenses, the drop in tax rates throughout the different tax brackets, changes to the Standard Deduction, ways in which congress is trying to simplify Tax Laws, how those tax laws affect LLCs, and ways in which Real Estate Investors save tax dollars from these changes. 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: [email protected] www.culvercpagroup.com 616-456-6464 Enjoy the show, and please take a moment to go to itunes to subscribe, rate & review.

This is a Special Re-Broadcast of last year's episode with Jeremy Cole and Ramon Huerta.  You can WATCH THEM This Saturday, March 3rd at 7 p.m. on the show "Gritty To Pretty" on the DIY Network.  HGTV has shown a strong interest in taking their show to series, so the more people who watch, the more likely we'll get to see more! 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! Enjoy!

When it comes to raising Other People's Money, syndication is both a science and an art.  There are specific and time-proven ways to do it right, and many ways to do it wrong. Today David Toupin, a Detroit-area investor and syndicator, will share his top-ten tips on Successful Syndication.  David's company, Borland and Toupin Holdings, owns and manages a $6 Million Dollar Portfolio of 120 units, as well as single-family fix & flips. David will discuss the tools he uses as an investor, he'll explain 'Preferred Returns' and 'Annual Returns', and why its important to make your investment opportunity as easy as possible for your investors to understand. This is a great episode to listen to if you're interested in Syndicating Multi-Family and Apartment investments, or if you're curious about raising Other People's Money. You can contact David through his website or facebook page: www.theborlandgroupllc.com facebook: @thedavidtoupin

From the outside looking in, Shaun McCloskey was a successful real estate investor and making a ton of money doing short sales and pre-foreclosure investing.  But deep down he know that he was working way too much and becoming consumed by his business.  He needed a better balance, and a better vision for his business. Today Shaun discusses the Lifeonaire strategy that he discovered, and how it helped him redefine his relationship with his family, with success, and with the debts he had taken on to build his business.  He also explains how anyone can design their own vision for what you want your life to look like, and then reverse engineer your business to make sure it serves your vision Shaun also tells us why the worst day of his life was the day he made $102,000 on a deal, and how he felt when he lost $87,000 on the first deal he ever did after losing his job.  He's since gone on to do over 300 deals and only lost money three times. Shaun is also a featured speaker at the RPOA's annual Real Estate Investor and Landlord Conference & Expo, which is happening February 22-24 in Grand Rapids, Michigan. You'll definitely want to hear him speak live, and you can register for FREE at www.rpoaonline.org For anyone who works too hard and wishes they had more time to spend with their family and friends, this episode is for you!

Is it possible to buy a house that no one else wants for $5,000 and then turn that house into a successful money maker? My guest today, Larry Goins, says that not only is that possible, but you can earn more than the average investor makes on a house worth 10 to 20 times that amount. And he has real-life examples to back that up. Larry has been investing in Real Estate for over twenty years, and has developed strategies that allow him to buy 10 to 15 properties per month without ever leaving his office. Today Larry shares his "Filthy Rich" techniques using Seller Financing and Lease Options. Larry also gives examples of how he uses facebook, craigslist, and ebay to find leads and buyers. You can also hear Larry speak live at the RPOA's Annual Real Estate Investor and Landlord Conference & Expo, which is happening in Grand Rapids, Michigan February 22-24, 2018. This is an event you Don't Want to Miss! You can register for FREE at www.rpoaonline.org

Chris McClatchey initially built his Real Estate Portfolio the Traditional Way - by using Bank Financing.  But then it struck him;  the majority of his cash flow was going back to the bank to pay off his mortgage.  Not only that, but the first seven to fifteen years of mortgage payments were primarily paying off the interest on his loan rather than paying down the principal. Chris knew that there had to be a better way, and that's when he came up with "The Power of Zero".  By using seller financing with zero percent interest, Chris was able to outbid other investors by overpaying for the property, but he was still paying much less in interest over the duration of the loan. Today, Chris shares "The Power of Zero" with us, and explains why its so important to listen to the seller to figure out what they really want, why the terms of the loan are much more important than the price you're willing to pay, the three elements to a great deal, and how to present an offer and understand the psychology of the seller. And you don't want to miss Chris when he appears as a featured speaker at the 2018 Annual Real Estate Investor & Landlord FREE Conference & Expo, here in Grand Rapids, Michigan from February 22 thru 24. You can go to www.rpoaonline.org to register for FREE!