Rental Property Owner & Real Estate Investor Podcast

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!

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

If you're a buyer or seller of apartment communities in the Michigan and Ohio area, chances are you've talked to Al Beachum, an associate broker with Income Property Organization.

Al was recently named a 2016 Costar Power Broker with 47 commercial apartment transactions in 2016. Since 2007 Al has brokered over 230 multifamily properties worth over a half-billion dollars.

Today Al and I discuss his legal background and how it gives him an edge in working through the complex legal challenges that often happen during acquisitions. We also talk about the differences in scale and efficiencies between single family and apartment investing, and how to strategically deploy funds to improve apartment values.

Al works with a lot of first-time apartment investors and shares how he vets potential buyers to determine where their capital is coming from, whether they're properly funded, and what qualifications and track record they bring to the table.

We also discuss the Michigan market and Al's outlook on the changes he sees happening in the next several years.

If you're interested in investing in apartment communities, then this is a 'must-listen' episode!

You can contact Al through Income Property Organization's website:

http://incomepo.com/

When it comes to Real Estate Investing, Marty Green has had a wild ride. He made millions of dollars Rehabbing and Flipping Houses, and then lost it all during the Great Recession. After licking his wounds for about a week, he decided to start his own property management company, and in the process has flipped the traditional property management style upside down.

Today Marty discusses how he took everything he dislikes about traditional property management and created a company that does things very differently. Marty discusses the philosophy and strategies that align his companies' goals and profit with those of the owners they manage for.

Marty also shares some colorful stories of his early days managing rough properties and the confrontations he's had with past tenants. He also shares the story of how he was recruited by the Grand Rapids Vice Squad to become an undercover informant in order to rid his properties of criminal characters.

We're also thrilled that Marty's company, Green Property Management, will now be an official sponsor of this podcast! You can get in touch with Marty, or Green Property Management by website, phone, or email:

http://greenpropertymgt.com/

1-866-954-7336

[email protected]

Because you Demanded it! Justin Workman & Rob Minch are back in the studio today to answer more questions from our listeners:

How much money should you set aside for maintenance & capital expenses?

What repairs should you know how to do yourself v.s. what should you hire someone to do?

How do you avoid evictions?

Who do you need on your team to make the lender happy?

Resources for improving your Negotiation Skills.

How do you quit your job and live of of rents?

Justin, Rob & Brian also discuss the signs they're seeing in the marketplace and economy that are affecting their decisions & investments.

Enjoy the show!

In 2012 Lonnie Shields and his wife were driving down the Beltline when their lives changed forever in an auto accident. Today Lonnie & I talk about that accident, and the role real estate investing has played on their road to recovery.

Lonnie shares his thought process in determining to sell off his small Multifamilies in Grand Rapids and invest in Single-Family Homes in a new, less expensive market. We discuss the 1031 exchange he's currently doing by selling a 5-unit and purchasing 8 to 10 Single Families in Muskegon, Michigan.

We also talk about Self-Directed IRA's, and how Lonnie prefers using his SDIRA as a way to invest in two SFHs instead of the stock market, where he was losing money every year. Lonnie also talks about reconciling his Christian faith with the realities of being an investor and landlord, and the effect it has on his trust in sellers, contractors and tenants.

Lonnie is also a big believer in the benefits of being an RPOA member. If you'd like to learn more about the RPOA, go to www.rpoaonline.org And please be sure to give this podcast a review & rating on itunes.

Enjoy!

Benjamin Mcclellan grew up with eight brothers & sisters, few material possessions, and even less money. Many of his meals consisted of rice, beans, and popcorn. But his parents instilled in him a strong work ethic and a lifelong passion for learning.

That passion has led Benjamin to invest in 14 Buy & Hold Rentals, as well as 3 Flips in the Grand Rapids area. He's also done what I'd call "Extreme House Hacking" by buying foreclosed properties with no running water, gas or heat, and living there while he does the rehab. This strategy has led to interesting encounters with homeless squatters, thieving neighbors, and frozen pipes, but its also set Benjamin on the path to financial independence.

Benjamin also has a knack for creating relationships with sellers and note holders that has helped him acquire his properties for very little money down with unique deal structures. He shares the nuts and bolts of those deals in today's conversation.

If you want to know what it takes to start with very little and build it into a strong portfolio of real estate assets, then I know you're going to enjoy today's conversation.

Should you be forced to allow residents to smoke medical marijuana in your properties? Are you concerned about Rent Control Laws affecting your bottom line? Who should pay the cost of getting rid of Bed Bugs? Is it your responsibility to make sure your residents are registered to vote?

Who is helping to shape the legislation that answers these questions?

The Rental Property Owners Association ("RPOA") is, that's who.

And today, we talk with Clay Powell, the Director of the RPOA, about a little understood, yet vital function of the RPOA, which is to work with local and state legislators to prevent laws that could make owning rental property more expensive and cumbersome for Landlords and Investors.

Clay and I discuss recent successes in preventing mandated inspections for Lead Paint, requiring landlords to register their residents to vote, expensive requirements for new smoke detector technology, and many other issues that affect our bottom line.

The RPOA is protecting your rights as a Landlord and Investor, whether you're a member or not. You can help out by becoming a member:

www.rpoaonline.org

You can also contribute to the Political Action Committee ("PAC") by calling 616-454-3385 with your donation.

Enjoy the show!

A year ago Cameron & Emily Walker, in their own words, 'knew nothing' about buying rental property and real estate investing.

Cut to today's conversation where they share how they came across the concept of House Hacking, located & purchased a duplex, and are now living in one unit and using the rent from the other unit to pay their bills.

It wasn't an easy learning experience, and Cameron & Emily are going to tell us how they raised money for their down payment from their wedding registry, evicted their tenant while on their honeymoon, and how they're using their extra house hacking income to pay off their student loans.

We also debate whether or not they should pay off their Private Mortgage Insurance (PMI) immediately, or apply those payments to their next house hack.

I know you'll enjoy today's episode. Cameron & Emily never thought they'd be home owners so soon, let alone rental property owners. If you're already an investor this conversation will remind you what it was like when you began. If you're not yet an investor, this episode will inspire you to get started!

And if you like what you hear, do me a favor and go to to itunes to give us a review & rating.

Enjoy!

As a syndicator in large apartment investments, I've certainly spent a lot of time and effort raising money from private investors.

"Magnetic Capital: How to Raise All the Money You Need for ANY Worthy Venture" is a book that I wish I'd had when I was just starting out.

Victor J. Menasce, the author, joins me today to share the secrets he's learned about raising Other People's Money. We'll discuss the five fundamental elements to raising money: Relationship, Trust, Results, Compelling Opportunity, and Allignment, and how they apply to Real Estate Opportunities.

Victor will also provide insight into the Psychology of raising money, how to avoid being 'creepy', The Art of the Pitch, Rookie Mistakes to Avoid, and whether or not you need a business plan.

Victor has also appeared on "Dragon's Den", which is the Canadian equivalent of "Shark Tank", and he'll share that interesting experience with us.

You can purchase "Magnetic Capital" by going to Victor's website:

http://www.victorjm.com/

There's a lot of great actionable content in today's episode that I know you'll enjoy. One action you can take right now is to give us a review & rating on itunes!